According to The Block, Citrea, a zero-knowledge proof-driven Bitcoin Layer 2 network, has officially launched its mainnet and native stablecoin, ctUSD. Citrea utilizes zero-knowledge Ethereum Virtual Machine (zkEVM) technology to batch thousands of off-chain transactions, generate proofs, and inscribe them on the Bitcoin base layer. The network primarily supports two core categories: Bitcoin-backed lending and structured products. Orkun Kilic, CEO of Chainway Labs (Citrea's development company), stated that the Citrea mainnet will enable capital to be directly deployed, managed, and settled within the native Bitcoin market, while the native stablecoin ctUSD provides a bridge to the fiat financial system. Earlier news revealed that Chainway had completed a $14 million Series A funding round in 2024, led by Founders Fund, with participation from Galaxy, Maven11, and other institutions.
Citrea, a ZK-Driven Bitcoin L2, Launches Mainnet and Native Stablecoin ctUSD
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Summary
Bitcoin breaking news: Citrea, a Bitcoin Layer 2 built on TechFlow that is based on zero-knowledge proofs, has launched its mainnet and native stablecoin ctUSD. The platform utilizes a zkEVM to process off-chain transactions and anchor the proofs on Bitcoin's base layer. It focuses on Bitcoin-pegged lending and structured products. Chainway Labs CEO Orkun Kilic stated that Citrea enables direct capital deployment and settlement in the Bitcoin-native market, with ctUSD serving as a bridge to fiat. Chainway secured $14 million in Series A funding in 2024 from Founders Fund, Galaxy, and Maven11.
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