Citrea, a Bitcoin Layer 2 solution, has announced the upcoming launch of a new stablecoin, ctUSD. The stablecoin will be issued by the crypto payments infrastructure company MoonPay and built on M0’s universal stablecoin platform.

The project's stated goal is for ctUSD to become the foundational liquidity layer for the entire Bitcoin ecosystem. This initiative aims to bring robust, decentralized financial applications and services to the Bitcoin network, an area where it has historically lagged behind other blockchains like Ethereum.

The involvement of established entities highlights the growing development of the Bitcoin ecosystem. M0, the technology platform underpinning ctUSD, is also trusted by prominent crypto companies such as MetaMask and Exodus. By leveraging MoonPay for issuance and M0 for the underlying technology, Citrea is positioning ctUSD to be a significant component of Bitcoin's emerging DeFi landscape.