PANews reported on October 29 that according to official news, the stablecoin project CAP Labs announced the completion of a US$1.9 million Pre-Seed round of financing, with participation from Kraken Ventures, Robot Ventures, ANAGRAM, ABCDE Labs, SCB Limited and others, as well as several individual investors.

According to reports, CAP Labs is building scalable crypto-native stablecoins; these stablecoins will connect users to the full range of crypto-native yields: MEV, arbitrage and other types of yields; its mainnet is scheduled to be launched in the first quarter of 2025.