Hyperliquid Launches HYPE and BTC Collateralized Loans with $269 Million in First Day

Hyperliquid has launched a manual loan service enabling users to borrow USDC and USDT using HYPE and BTC as collateral. The first-day loan assets totaled $269 million (approximately 3715 billion KRW).

Ublockchain shared on X that this feature utilizes HyperCore infrastructure, similar to portfolio margining. Borrowers pay interest, while asset providers earn a fixed rate based on utilization.

Jeff Yan, co-founder of Hyperliquid, explained that the protocol was first built as an independent lending solution before being integrated with portfolio margin for unlimited futures and spot trading.