cUSD now runs on PYUSDx.
Cap's native stablecoin has migrated to PYUSDx, the new developer platform from @PayPal, @m0, and @moonpay. The backing of cUSD is now PYUSD reserves.
Here's how it works 🧵
PYUSDx already crossed $100 million in scale and it’s only day 1.
@PayPal, M0, and @moonpay have launched PYUSDx, a developer platform designed to let builders create their own onchain products, fully backed by PYUSD.
Three companies are live. Two more are coming soon.
The Key Differentiator of Cap is the Funded Underwriter.
Our Head of Growth @defidave appeared on @blocmates and explained how by having an independent outside party diligence and "fund" loans allows credit to scale.
Private credit is changing under our feet.
@Benjamin918_ explains how and how Cap is a major part of this structural shift by connecting efficiency of onchain finance to the productivity of the real world.
What if private credit stopped trusting people with the risky bits?
For the latest The NOW Effect, @ornella_hdz sat down with @Benjamin918_, CEO of @CapApp, to unpack on-chain private credit, RWA and machine-led underwriting.
Watch the full interview: youtube.com/watch?v=OrOAG3…
Last week, we announced the neobankification of Cap with @HallidayHQ, allowing anyone to seamlessly access Cap USD with Apple/Google Pay, cards, 8+ chains, etc.
Here, we have @DanteReminick demo step-by-step how simple the process is.
Try for yourself: cap.app/get-started
According to @DefiLlama, average APY of Cap USD for the month of August was 5.17%.
This level of consistency beats the median of our peer group of 66 comparable venues by 1.63%.
Source: defillama.com/ai/chat/shared…
