Citrea Launches Groundbreaking Mainnet Allowing Bitcoin Utilization for Various Financial Activities
In a significant step towards integrating Bitcoin into traditional finance, Citrea has officially launched its mainnet. This platform, backed by Founders Fund and Galaxy Ventures, is designed to leverage Bitcoin for a variety of financial operations including lending, trading, and settlement in U.S. dollars. With Bitcoin's market capitalization reaching approximately $1.3 trillion, the timing of this launch addresses the frustration many users feel over Bitcoin’s underutilization. Currently, over 61% of Bitcoin remains unspent and inactive for more than a year due to a lack of native applications, highlighting the opportunity Citrea aims to tap into.
Orkun Kilic, co-founder and CEO of Chainway Labs, stated that while Bitcoin stands as the largest digital asset globally, its impact on financial markets has been limited. With increasing demand for Bitcoin exposure, many transactions occur off-chain, relying heavily on intermediaries. The new mainnet allows for state-of-the-art Bitcoin-secured financial applications to operate on-chain, enabling direct capital deployment and management in Bitcoin-native markets. The introduction of ctUSD, a stablecoin pegged to the U.S. dollar and developed in collaboration with MoonPay, facilitates fiat settlement and offers a robust liquidity layer for Bitcoin-based financial activities.
Citrea’s infrastructure was developed in partnership with leading decentralized finance (DeFi) participants, including Morpho and Edge Capital’s UltraYield. By utilizing both on-chain and off-chain strategies, Citrea aims to provide secure and transparent Bitcoin returns through partnerships with notable digital asset institutions like Keyrock. “We’re leveraging an enormous market opportunity to truly make Bitcoin programmable in a scalable manner,” noted Bridget Harris, a partner at Founders Fund. This dual focus on developer-centric and user-centric products aims to fundamentally enhance the Bitcoin economy.
Will Nuelle, Managing Partner at Galaxy Ventures, added that Citrea is making deeper, more native engagement with BTC possible by bringing capital markets, stablecoin liquidity, and application infrastructure directly onto the Bitcoin network. This transformation not only amplifies Bitcoin's role in global finance but also expands how users and institutions can construct secure applications atop its framework. The implications of Citrea’s approach reverberate through long-term demand for Bitcoin, miner incentives, and institutional interactions.
By aligning network security with real economic usage, Citrea enables institutions to adopt capital-efficient strategies that offer greater control and flexibility compared to off-chain implementations.
The mainnet and ctUSD are both live and available for use now. The Citrea platform aspires to extend the financial utility of Bitcoin, ensuring that its offerings remain anchored in the security model of the overall network.
For more information, interested parties can visit citrea.xyz to explore the platform further. Citrea is supported by prominent investors including Founders Fund, Galaxy, Maven 11, and Delphi Digital, showcasing the backing of industry leaders dedicated to enhancing the Bitcoin ecosystem. With its innovative features, Citrea is poised to not only reshape how Bitcoin is utilized in finance but also to unlock the vast potential inherent in the Bitcoin economic landscape.
Orkun Kilic, co-founder and CEO of Chainway Labs, stated that while Bitcoin stands as the largest digital asset globally, its impact on financial markets has been limited. With increasing demand for Bitcoin exposure, many transactions occur off-chain, relying heavily on intermediaries. The new mainnet allows for state-of-the-art Bitcoin-secured financial applications to operate on-chain, enabling direct capital deployment and management in Bitcoin-native markets. The introduction of ctUSD, a stablecoin pegged to the U.S. dollar and developed in collaboration with MoonPay, facilitates fiat settlement and offers a robust liquidity layer for Bitcoin-based financial activities.
Citrea’s infrastructure was developed in partnership with leading decentralized finance (DeFi) participants, including Morpho and Edge Capital’s UltraYield. By utilizing both on-chain and off-chain strategies, Citrea aims to provide secure and transparent Bitcoin returns through partnerships with notable digital asset institutions like Keyrock. “We’re leveraging an enormous market opportunity to truly make Bitcoin programmable in a scalable manner,” noted Bridget Harris, a partner at Founders Fund. This dual focus on developer-centric and user-centric products aims to fundamentally enhance the Bitcoin economy.
Will Nuelle, Managing Partner at Galaxy Ventures, added that Citrea is making deeper, more native engagement with BTC possible by bringing capital markets, stablecoin liquidity, and application infrastructure directly onto the Bitcoin network. This transformation not only amplifies Bitcoin's role in global finance but also expands how users and institutions can construct secure applications atop its framework. The implications of Citrea’s approach reverberate through long-term demand for Bitcoin, miner incentives, and institutional interactions.
By aligning network security with real economic usage, Citrea enables institutions to adopt capital-efficient strategies that offer greater control and flexibility compared to off-chain implementations.
The mainnet and ctUSD are both live and available for use now. The Citrea platform aspires to extend the financial utility of Bitcoin, ensuring that its offerings remain anchored in the security model of the overall network.
For more information, interested parties can visit citrea.xyz to explore the platform further. Citrea is supported by prominent investors including Founders Fund, Galaxy, Maven 11, and Delphi Digital, showcasing the backing of industry leaders dedicated to enhancing the Bitcoin ecosystem. With its innovative features, Citrea is poised to not only reshape how Bitcoin is utilized in finance but also to unlock the vast potential inherent in the Bitcoin economic landscape.
Topics Financial Services & Investing）
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