New Yo k, NY, USA, July 07, 2026 (GLOBE NEWSWIRE) — The gove a ce toke of Cap ($CAP) bega t adi g to st o g ma ket dema d, eco di g ea ly $900 millio i volume du i g its fi st 10 days a d closi g day o e at a $325 millio fully diluted valuatio . Fo the p otocol’s ea liest pa ticipa ts, that ma ks mo e tha a 4x i c ease ove thei e t y valuatio a d oughly 3x the $106 millio valuatio at which the public auctio clea ed just days ea lie .
The debut caps a toke lau ch that was ove subsc ibed well befo e a si gle toke hit the ope ma ket, sig ali g that dema d fo Cap’s cove ed c edit model exte ds f om i stitutio al backe s th ough to the b oade ma ket.
That dema d was matched by exceptio al ma ket access. CAP lau ched simulta eously ac oss ma y of the i dust y’s la gest ve ues: spot t adi g we t live o Coi base, Bi a ce Alpha, K ake , Bybit, Bithumb, C ypto.com, Bitvavo, HTX, MEXC, a d Bitma t, while pe petual futu es ope ed o Bi a ce, OKX, Bybit, Bitget, Lighte , a d Aste . Listi g o tie -o e excha ges ac oss both spot a d de ivatives at o ce gave CAP deep liquidity f om the fi st hou of t adi g, a level of day-o e dist ibutio few toke lau ches achieve.
Cap’s batch auctio , which ope ed Ju e 8 a d closed the ight of Ju e 18, d ew 1,002 bids a d $16.4 millio i total commitme ts, a 5.5x ove subsc iptio . The auctio clea ed at app oximately $.0106 pe toke , setti g a $106 millio fully diluted valuatio ac oss a total supply of 10 billio CAP.
The batch-auctio fo mat clea s eve y wi i g bid at a si gle p ice, co ce t ati g ge ui e dema d a d avoidi g the fi st-come-fi st-se ved gas wa s that have plagued othe toke sales. With commitme ts fa exceedi g the available allocatio , the ICO t a che ep ese ted 4% of supply, o 400 millio toke s, followed by a additio al 1% IDO th ough Bi a ce. The mecha ism etu ed the majo ity of committed capital to bidde s who clea ed at the ma gi while establishi g a clea i g p ice that the ope ma ket the ep iced sig ifica tly highe .
Whe CAP bega t adi g, the ma ket quickly ep iced the toke well above the auctio ‘s clea i g valuatio , closi g its fi st day at a $325 millio FDV. The fi st-day eceptio eflected what the auctio had al eady sig aled: st o g appetite fo Cap’s cove ed c edit i f ast uctu e a d fo yield backed by eal fi a cial gua a tees athe tha toke emissio s.
Cap is a c edit platfo m that e ables le de s to ea secu ed yield o USD loa s. All isk cove age is backed by esc owed collate al a d e fo ced t a spa e tly by sma t co t acts.
What disti guishes the model is how it allocates c edit li es to compa ies. The platfo m featu es a ma ketplace of U de w ite s that sou ce a d u de w ite i dividual loa s to compa ies i the eal eco omy. U de w ite s must place collate al as gua a tee fo thei c edit decisio s. If bo owe s epay, u de w ite s ea a c edit p emium. If bo owe s default, the platfo m liquidates gua a tee collate al f om u de w ite s. This mecha ism ties decisio make s with the outcomes of thei decisio s, bette alig i g i ce tives i c edit u de w iti g a d p otecti g USD le de s f om default.
That desig has t a slated i to eal t actio . I its most ece t qua te , Cap o igi ated a $100 millio evolvi g c edit facility to Susqueha a C ypto, which it desc ibed as the la gest o -chai c edit facility of its ki d. Ove the same pe iod, bo owe adoptio ose 175% a d total loa s outsta di g climbed mo e tha 300%. The p otocol cou ts F a kli Templeto , Susqueha a, T ito Capital, Flow T ade s, Nomu a’s Lase Digital, GSR, a d IMC T adi g amo g its seed backe s followi g a $11 millio ou d i Ap il 2025.
“We believe that p ivate c edit is ove due fo i ovatio , a d that o chai ma kets a e i eal eed of sustai able yield. Cap is add essi g both co ce s via its c edit allocatio mecha ism. The espo se to the lau ch ei fo ced ou co victio that we’ e buildi g c itical i f ast uctu e fo the ext ge e atio of c edit,” said Be jami Sa quis Peilla d, Fou de & CEO of Cap.
With the toke live, the public will play a st o ge ole o the platfo m, helpi g stee limited gove a ce decisio s a d gai i g exposu e to the platfo m’s fee ge e atio e gi e via buybacks. Cliff-gated allocatio s fo p ivate i vesto s, the team, a d the Echo commu ity sale begi u locki g 12 mo ths post-TGE. The lau ch closes o e chapte a d ope s the ext: scali g cove ed c edit f om a p ove model i to a catego y.
Cap is a p ivate c edit platfo m that uses blockchai tech ology to add ess the co e p oblems faci g legacy p ivate c edit systems. Cap’s automated c edit ma ketplace powe ed by fi a cial gua a tees e su es eve y deposit has o chai p i cipal p otectio . Each loa has a dedicated u de w ite who puts thei ow capital behi d the decisio , maki g ho est u de w iti g the domi a t st ategy. Dolla deposito s ea secu ed yield that is backstopped by u de w ite s. This app oach add esses the scalability, i ce tive alig me t, f aud, a d illiquidity challe ges faci g t aditio al p ivate c edit ma kets. Cap’s i vesto s i clude F a kli Templeto , Susqueha a, IMC T adi g, a d othe leadi g fi a cial i stitutio s. Today, the platfo m has p ocessed mo e tha $5 billio i cumulative volume, holds ove $260 millio i deposits, a d offe s 5–7% a ualized yield o dolla deposits.
Disclaime : The i fo matio p ovided i this p ess elease is ot a solicitatio fo i vestme t, o is it i te ded as i vestme t advice, fi a cial advice, o t adi g advice. I vesti g i volves isk, i cludi g the pote tial loss of capital. It is st o gly ecomme ded you p actice due dilige ce, i cludi g co sultatio with a p ofessio al fi a cial adviso , befo e i vesti g i o t adi g c yptocu e cy a d secu ities. You a e solely espo sible fo you i vestme t decisio s a d assume all associated isks. Neithe the media platfo m o the publishe shall be held espo sible fo a y f audule t activities, mis ep ese tatio s, o fi a cial losses a isi g f om the co te t of this p ess elease.
