TechFlow News, January 27: According to The Block, Citrea—a zero-knowledge proof–driven Bitcoin Layer 2 network—has officially launched its mainnet and native stablecoin, ctUSD. Citrea leverages zero-knowledge Ethereum Virtual Machine (zkEVM) technology to batch thousands of off-chain transactions, generate cryptographic proofs, and inscribe them onto Bitcoin’s base layer. The network primarily supports two core categories: Bitcoin-collateralized lending and structured products.
Orkun Kilic, CEO of Chainway Labs—the developer behind Citrea—stated that the Citrea mainnet enables capital to be directly deployed, managed, and settled within Bitcoin-native markets, while the native stablecoin ctUSD serves as a bridge connecting to fiat systems.
Earlier reports indicated that Chainway raised $14 million in a Series A funding round in 2024, led by Founders Fund, with participation from Galaxy, Maven11, and other institutions.
