Citrea has raised $14 million in Series A funding led by Founders Fund, the venture capital firm founded by Peter Thiel. This latest investment brings our total funding to $16.7 million, positioning us to revolutionize how Bitcoin operates in the modern financial landscape.
Reimagining Bitcoin's Role in Finance
While Bitcoin has established itself as digital gold, its potential extends far beyond passive value storage. Traditional approaches have forced users to choose between holding Bitcoin securely or ceding control to third parties for additional functionality. Citrea breaks this paradigm with its innovative zero-knowledge collection technology that allows Bitcoin to serve as both a secure store of value and a dynamic financial instrument.
Their solution preserves Bitcoin’s fundamental security while offering smart contract capabilities previously associated with other blockchain platforms. This advancement enables Bitcoin to be trustedlessly lended, borrowed, and leveraged, making it a comprehensive foundation for decentralized finance.
Joey Krug, Partner at Founders Fund, emphasizes its importance: “Citrea represents a breakthrough in combining Bitcoin’s security with smart contract flexibility. By bringing Ethereum-style aggregation capabilities to Bitcoin, we are witnessing a significant expansion of what is possible in the Bitcoin ecosystem.”
Get to Know Citrea Origins
Alongside Citrea’s funding announcement, they are also introducing Citrea Origins, an intensive developer program designed to accelerate Bitcoin-based app development. The first group will meet in Bangkok this November to collaborate directly with Citrea to create groundbreaking apps. These projects will range from Bitcoin-backed stablecoins to sophisticated trading platforms, laying the groundwork for a more diverse Bitcoin economy.
Building Toward a Bitcoin-Powered Future
“Bitcoin has the potential to be the backbone of a censorship-resistant financial system,” explains Orkun Kilic, co-founder and CEO of Chainway Labs. “With Citrea’s advanced cryptographic innovations, we are making this vision technically feasible and practically achievable.”
Their work goes beyond pure technological advancement; it’s about realizing Bitcoin’s full potential as the foundation of a new financial paradigm. By combining Bitcoin’s renowned security with unprecedented programmability, they are creating the infrastructure needed for a truly decentralized financial future.
About Citrea
Citrea represents the cutting edge of Bitcoin innovation by developing zero-knowledge technology to enhance Bitcoin’s capabilities while preserving its core attributes. With the support of a talented team of computer scientists at Chainway Labs, they are dedicated to making Bitcoin the cornerstone of tomorrow’s financial infrastructure.
