Hyperliquid has launched a manual borrowing feature allowing users to borrow stablecoins (USDC and USDT) using HYPE and Bitcoin as collateral. The service runs through HyperCore, the network’s native trading infrastructure, rather than through a simple interface update. Users can unlock liquidity without closing existing positions, for example maintaining Bitcoin exposure while borrowing stablecoins. This functionality remains fully collateralized, implying liquidation risk if collateral value drops relative to the borrowed amount. Hyperliquid is gradually evolving from an on-chain derivatives platform toward an integrated crypto prime brokerage model.
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