Citrea, a Bitcoin application platform backed by Founders Fund and Galaxy Ventures, announced today the launch of its mainnet, in hopes to unlock lending, trading, and other capital market activity directly on the Bitcoin network.
Alongside the mainnet debut, Citrea introduced ctUSD, a U.S. dollar-denominated stablecoin issued by MoonPay and powered by M0.
The stablecoin is fully backed by short-term U.S. Treasury bills and cash and is designed to align with the forthcoming GENIUS Act, positioning it as a compliant settlement layer for Bitcoin-based financial activity.
Despite Bitcoin’s roughly $1.3 trillion market capitalization, on-chain data suggests a significant portion of…
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