The launch coincides with growing momentum in Congress, as the Senate's passage of the Genius Act signals rising institutional support for stablecoins.
Led by investor and podcast host Anthony Pompliano, ProCap raised more than $750 million in its funding round, including $235 million in convertible debt.
Bitcoin fell to its lowest level in over a month after U.S. airstrikes on Iran, fueled by inflation fears, institutional pullback, and forced liquidations.