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Circle to Bring USDC and CCTP v2 to Hyperliquid
In exciting news for the cryptocurrency community, Circle has announced that it will be bringing native USDC and Cross-Chain Transfer Protocol (CCTP) version 2 to Hyperliquid’s platform. This integration is set to unlock seamless USDC transfers into the ecosystem of Hyperliquid, including its decentralized exchange and smart contract layer.
With this development, users can expect a regulated, fully reserved digital dollar that can be redeemed 1:1 for US dollars. The native USDC implementation will provide institutional on- and off-ramps via Circle Mint, giving eligible users access to liquidity and further expanding the use cases within the Hyperliquid ecosystem.
Moreover, the CCTP v2 integration is expected to enable developers to create applications for onboarding, swapping, purchasing, and rebalancing the treasury with unparalleled capital efficiency. This functionality can be used in a variety of scenarios, such as perpetuals and spot trading where USDC serves as collateral or a quote asset.
According to Circle’s latest announcement, this development is set to open up new opportunities for decentralized finance (DeFi) applications within Hyperliquid. The native USDC and CCTP v2 integration will provide developers with the necessary tools to create innovative solutions that enhance liquidity sharing and expand on-chain utility.
In conclusion, this partnership between Circle and Hyperliquid is a significant step forward in furthering the adoption of digital assets and expanding their potential use cases.
Source: cryptobriefing.com
