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Nectra Launches Bitcoin-Backed Stablecoin Protocol, Redefining Bitcoin Loans - Chainwire

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19Jun

Nectra Launches Bitcoin-Backed Stablecoin Protocol, Redefining Bitcoin Loans

George Town, Cayman Islands, June 19th, 2025, Chainwire

Today marks the introduction of Nectra, a permissionless lending protocol that allows Bitcoin holders to borrow against their BTC using nUSD, a decentralized, Bitcoin-backed stablecoin. Built on Citrea, Bitcoin’s first ZK rollup, Nectra is pioneering a new era of non-custodial Bitcoin finance.

In a landscape dominated by custodial lenders and opaque terms, Nectra brings a trust-minimized alternative—where there are no intermediaries, interest rates are user-set, and transparency is enforced on-chain. The result is a radically simplified and secure way to unlock liquidity without selling or rehypothecating Bitcoin.

“Bitcoin deserves financial applications that respect its ethos: decentralization, transparency, and self-sovereignty,” said Jo Carmack, co-founder of Nectra. “With Nectra, Bitcoin becomes more than a store of value—it becomes an active financial asset.”

Key Features of Nectra:

  • Non-custodial loans: Users retain control of their Bitcoin throughout the lending process.
  • Custom interest rates: Borrowers select their own APR.
  • High LTVs: Borrow up to 83.3% of the value of traders’ Bitcoin.
  • Instant access to nUSD: A Bitcoin-backed stablecoin redeemable for BTC at any time.
  • Real on-chain yield: Traders can earn yield by depositing nUSD into the protocol’s Savings Account.

Unlike centralized platforms, Nectra introduces no middlemen, no exorbitant fees, and no rehypothecation or pledging of funds. All logic is encoded in immutable smart contracts—ensuring permissionless access.

Nectra is now live on Citrea testnet, with its mainnet launch and points program coming soon. Bitcoiners can already begin testing loans, redeeming nUSD, and earning yield—all while staying true to Bitcoin’s principles.

To Explore Nectra:

About Nectra

Nectra is a decentralized lending protocol that enables Bitcoin holders to borrow nUSD— a Bitcoin-backed stablecoin—without intermediaries or custodians. Built on Citrea, Bitcoin’s first ZK rollup, Nectra offers permissionless, transparent, and immutable Bitcoin loans. By staying true to Bitcoin’s principles, Nectra allows users to unlock Bitcoin liquidity in a Bitcoin-aligned way.

Users can learn more at https://nectra.xyz