Stablecoin developer CAP Labs has completed a $1.9 million seed round financing, with participation from Robot Ventures and others
Oct 28, 2024 22:16:10
stablecoin developer CAP Labs announced the completion of a $1.9 million seed round financing, with participation from Robot Ventures, Anagram, Kraken Ventures, ABCDE Labs, and others.
In addition, the official announcement states that the mainnet will be launched in the first quarter of 2025.
According to RootData, CAP is a stablecoin engine designed to free users from the cycle of endogenous models. CAP's stablecoin engine will produce various denominations of redeemable stablecoins, such as USD, BTC, and ETH. Their goal is to democratize what was previously accessible only to a few seasoned and already wealthy participants. This includes the deepest layers of yield, such as arbitrage, MEV, and RWA.