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Crypto

Bitcoin layer2 Citrea launches mainnet, also releases stablecoin

Zero-knowledge-based Bitcoin layer2 Citrea launched its mainnet on Jan. 28, it said. The launch allows users to access services using various on-chain assets on the Bitcoin network. Citrea said it will focus on implementing core technologies including Bitcoin-based collateral use and structured asset services. It also released the ctUSD stablecoin to support swaps in its ecosystem, backed 100 percent by short-term U.S. Treasuries and cash and issued with MoonPay.

Crypto

Citrea unveils U.S. Treasury-backed stablecoin targeting Bitcoin ecosystem

Bitcoin layer-2 blockchain Citrea has launched ctUSD, a U.S. dollar-linked stablecoin intended to serve as a liquidity standard within the Citrea ecosystem. A report said it connects to the Bitcoin network via zero-knowledge proofs and is the first stablecoin issued by MoonPay, backed 1:1 by U.S. Treasuries and cash. Citrea said native issuance can reduce bridge-driven liquidity fragmentation, slippage and system risk. ctUSD is available across 49 U.S. states and many other jurisdictions.