Hyperliquid has added a manual borrowing tool, letting users take out USDC or USDT loans against HYPE or Bitcoin collateral. The move pushed HYPE past $90, and the platform now reports $269 million in assets borrowed across its underlying infrastructure.
Manual Borrowing Arrives
The new feature extends direct access to borrowing beyond Hyperliquid’s existing portfolio margin system. Users can now choose their own collateral and borrow USDC or USDT directly against it, rather than relying on the platform’s automated margin management.
Assets Borrowed Cross $269 Million
Hyperliquid reported the figure on Friday, showing the scale of activity since the feature launched.
The Payward Connection
Two days before the manual borrowing rollout, Payward — the parent company of cryptocurrency exchange Kraken — announced plans to deploy onchain perpetual futures markets for US clients. The launch starts with Hyperliquid’s HIP-3 markets.
Hyperliquid reported $269 million in assets borrowed across the underlying infrastructure on Friday.
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How It Works
Users select their collateral — HYPE or Bitcoin — and request a loan in USDC or USDT.
Why It Matters
The manual borrowing feature expands access to borrowing for users who previously relied on the portfolio margin system. The collateral choices — HYPE or Bitcoin — let borrowers pick what they hold, and the loans come in USDC or USDT.
What Comes Next
Hyperliquid has not announced further features. The manual borrowing rollout stands as the current addition to the platform’s borrowing suite.
The Bottom Line
Hyperliquid’s manual borrowing feature is a significant step for users who want direct control over their loans. With HYPE above $90 and $269 million in borrowed assets, the feature is clearly doing real work.
The Payward connection adds weight to the announcement, tying the borrowing expansion to broader moves in the space. For users, the practical takeaway is that the platform has given them one more way to borrow.
See the a run of 18 images at Cointelegraph.
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