Citrea Launches Mainnet - Enabling Bitcoin to Be Used for Lending, Trading, and USD Settlement
Citrea launched its mainnet, allowing Bitcoin to be used directly for financial activities like lending and trading, with a new USD-backed stablecoin.Summary
Citrea, a Bitcoin application platform backed by Founders Fund and Galaxy Ventures, has launched its mainnet, enabling capital market activity directly on the Bitcoin network. The launch includes ctUSD, a U.S. dollar-denominated stablecoin issued by MoonPay and powered by M0, designed to facilitate USD settlement and liquidity for Bitcoin-based financial activity. Citrea addresses the issue of significant Bitcoin capital remaining idle due to a lack of native application infrastructure, with over 61% of BTC having not moved in over a year.
According to Orkun Kilic, co-founder and CEO of Chainway Labs, Citrea’s mainnet allows capital to be deployed and settled directly within Bitcoin markets, bridging to fiat systems through ctUSD for use cases like BTC-backed lending. The platform’s lending infrastructure was developed in collaboration with DeFi participants like Morpho and UltraYield, and leverages strategies from institutions like Keyrock to deliver BTC yields.
Investors like Bridget Harris of Founders Fund and Will Nuelle of Galaxy Ventures highlight Citrea’s potential to make Bitcoin more programmable and deepen engagement with the asset. Citrea aims to strengthen Bitcoin’s role in global financial systems and expand opportunities for institutions and users, aligning network security with real economic usage.
(Source：Australian Associated Press)