Citrea Launches Mainnet, Bringing Lending, Trading, and USD Settlement to Bitcoin
Citrea launched its mainnet, introducing lending, trading, and ctUSD stablecoin settlement directly on the Bitcoin network.Summary
Citrea, a Bitcoin application platform backed by Founders Fund and Galaxy Ventures, has launched its mainnet to enable lending, trading, and capital market activity directly on the Bitcoin network. Alongside the launch, Citrea introduced ctUSD, a U.S. dollar-denominated stablecoin issued by MoonPay and powered by M0, which is fully backed by short-term U.S. Treasury bills and cash, aiming to be a compliant settlement layer for Bitcoin finance. CEO Orkun Kilic stated the goal is to deploy capital within Bitcoin-native markets, addressing the fact that a large portion of BTC remains economically idle. Initial product offerings focus on BTC-backed lending, developed with Morpho and UltraYield, and BTC structured products with market makers like Keyrock. The platform anticipates over 30 Bitcoin-native applications launching soon. Investors believe this move can deepen institutional engagement and potentially sustain miner incentives as block subsidies decrease by anchoring real economic usage to the base layer.
(Source：Bitcoin Magazine)