What to know:
- MoonPay launches USDH and USDC support on Hypercore through its Gateway platform.
- Eligible US and UK users can now move fiat directly into the Hyperliquid ecosystem.
- Existing Gateway partners can add Hyperliquid access without new development work.
MoonPay has launched USDH and USDC stablecoin support on Hypercore, the blockchain infrastructure powered by Hyperliquid. The update is live through MoonPay Gateway and allows eligible users to move from fiat currencies into the Hyperliquid ecosystem directly.
The company said the integration expands its on-ramp services. It also gives users another way to access stablecoins through supported blockchain networks.
According to the announcement, the service is available in the United States, except New York. It is also offered to users in the United Kingdom.
Also Read: Hyperliquid ETFs Attract $53 million Inflows as Institutional Demand Rises
MoonPay Expands Gateway Support
The company said Gateway enables on-chain trading via decentralized exchange aggregators. The system is designed to provide the correlation between fiat payments and trading activity on the blockchain.
Hypercore is now included in the company’s live network support. The platform is already integrated with Solana, Ethereum, and Base.
The company said that there is no need for additional development work by existing Gateway partners. Existing users of the platform can simply integrate Hyperliquid access without needing to build a new integration.
The company also did not forget to add risk warnings to its announcement. The company warned that crypto investment is highly risky, particularly in the UK.
Hypercore is a part of the Hyperliquid blockchain ecosystem. It serves as the network’s trading infrastructure layer.
Perpetual futures and spot trading are available. It operates a centralized limit order book for high-volume order placement and settlement.
Decent Deal Supports MoonPay Trade
Hypercore also has its own HyperEVM. Other blockchain functions are supported in the Hyperliquid ecosystem through this setup.
The news follows comapny’s ongoing business growth via acquisitions. The company recently acquired Decent, a crypto infrastructure company that was backed by Y Combinator.
Decent offers transaction tools that work on multiple blockchains. The deal was worth in the high eight figures and was MoonPay’s fourth acquisition of the year.
Following the acquisition, the firm has introduced MoonPay Trade. The product is aimed at banks, fintech companies, asset managers, and other companies.
MoonPay Trade offers access to tokenized assets. It also provides stablecoin liquidity and decentralized finance services with a single integration point.
The product is based on Decent’s router system, bridges, and liquidity pools. It incorporates those tools with the services of MoonPay that encompass onboarding, off-boarding, KYC, and AML.
The company is yet to release data on the usage of the Hypercore launch. Additional information can reveal if the new support will boost their presence on Hypercore.
The update simply represents an additional network and token that the company can now support in its services. It does not signal a change in the company’s main crypto purchasing model.
Also Read: Grayscale Investments Highlights 4 Chains for Tokenized Asset Growth
Be the first to comment