Citrea, a layer-2 blockchain for Bitcoin, has launched a U.S. dollar-pegged stablecoin, ctUSD, designed to enhance liquidity within its ecosystem. The stablecoin, issued by Moonpay, is backed 1:1 by short-term U.S. Treasury bills and cash. Citrea aims to address liquidity fragmentation in Bitcoin-focused DeFi by issuing ctUSD natively, eliminating the need for bridged versions that can increase systemic risk.
The ctUSD token will be available in 49 U.S. states, excluding New York, and over 160 countries outside the European Economic Area and Canada. This launch marks MoonPay's entry into stablecoin issuance, aligning with regulatory trends favoring compliance over prohibition. Citrea's infrastructure supports regulated fiat transactions alongside Bitcoin, with MoonPay's compliance framework allowing for address freezing to meet legal and anti-money laundering standards.
Citrea Launches ctUSD Stablecoin Backed by U.S. Treasuries
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