Hyperdrive:– Stablecoins have become the established interest of Venture Capitalists in web3 now. With their total market cap surpassing $240 billion as of writing, they are continuing to gain widespread acceptance.
An increasing number of firms in web3 are making their bet on Stablecoins, receiving support from VCs. In a latest instance to this, Hyperdrive, a stablecoin infra based project on Hyperliquid blockchain, has received $6 million in Series A funding support.
The round was led by Hack VC and Arrington Capital with participation from Amber, Delphi Ventures, Proof, Calado among others.
Interestingly, the funding comes as the token of blockchain on which Hyperdrive is built – HYPE – surpasses Sui to rank 13th in terms of market cap. $HYPE is currently trading at $37.96 setting a new historic high.
Also Read: HYPE’s $13 trillion Rally
Hyperdrive Market To Allow Borrowing and Lending of Stablecoins
Hyperdrive is a decentralized money market protocol working to develop the yield infrastructure for Stablecoins. Launching this month on May 27, it is built on the vision of providing yield to users holding Stablecoins.
It will allow users to lend USDe to earn lending APY. Though it is mostly focused on Stablecoins, it will also allow users to borrow USDe against BTC, ETH, or HYPE.
The stablecoin project noted in a X post that with over $500M USDe in market supply, only 1% of it is earning. With its yeild infrastructure layer, Hyperdrive aims to bring this idle sitting supply of stablecoins in users’ wallets to use. This is going to benefit over $30 million users who are currrently holding stablecoins in their wallets.
Today, there’s over $500M USDe supplied to Ethereum money markets — most earning less than 1%. That’s not capital efficient.
That’s passive capital in an active market – Hyperdrive gives USDe more to do.
— Hyperdrive (@hyperdrivedefi) May 21, 2025
According to Dunes data, active stablecoin wallets have increased from 19.6 million in February 2024 to over 30 million in February 2025. This marks a 53% year-over-year growth with the other side i.e., stablecoin supply, increasing by 63% in just one year to ->245 billion.
The stablecoin deposits of Hyperdrive users will be managed by its native Automated Market Maker (AMM) – Hyperliquidity Provider (HLP) – Hyperliquid’s market making vault.
Interestingly, its launch is coming in a scenario where the broader crypto lending market is making a bounce back.
DeFi borrowing has surged by approximately 959% from its low in Q4 2022. It is reaching $19.1 billion across 20 protocols and 12 blockchains by the end of Q4 2024. This growth has surpassed the previous peak set during the 2020–2021 bull market.
The VC Trend of 2025
Hyperdrive’s funding that too Series A further bolsters the growing trend of VCs investing in stablecoin based projects.
In 2025 alone, stablecoin and payment-focused startups have collectively raised over $297 million, marking a 214% increase compared to the same period in 2024. This includes the key names such as Ethena Labs, BVNK, Plasma, Avalon Labs, among others.
Thus, with the stablecoin yield layer, Hyperdrive launch soon, the broader landscape is set to receive a boost.
Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
