Stablecoin company Cap has raised $11 million in a seed funding round led by Triton Capital, Franklin Templeton, and Susquehanna International Group. Participants included crypto-native firms like Superscript and Rockaway X, alongside market makers GSR, IMC Trading, Nomura’s Laser Digital, and Flow Traders.

The funding follows a $1.1 million community round executed partially on Echodot, involving groups such as Omega, Patrons, and Crab Notes. Founders and teams from projects affiliated with the “Mega Mafia” ecosystem—including MegaETH Labs, Hop Network, and Euphoria Finance—also contributed.

Cap aims to address challenges in stablecoin sustainability, particularly the lack of safe yield options. Over $240 billion in stablecoins circulate globally, but generating risk-managed returns remains a hurdle. The company claims existing models, including endogenous designs or hedge-fund-like strategies, require reinvention.

Its proposed solution involves outsourcing yield generation programmatically via shared security markets, similar to Eigenlayer and Symbiotic. Just recently, Cap Labs revealed its new Type III stablecoin concept, touting it as a clever leap forward in yield generation—entirely automated and free from human meddling.

This approach allows institutions to produce yield without directly exposing users to operational risks. Cap plans to deploy its protocol on Ethereum-based shared security marketplaces, with a focus on integration into MegaETH, a real-time blockchain developed by MegaETH Labs.

The company credited MegaETH’s community for support during its development phase. The team noted on X that the funding will accelerate Cap’s mission to bridge traditional finance and crypto through compliant yield mechanisms. The firm did not disclose valuation or specific rollout timelines.

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