# cpUSD

### What Is cpUSD?

cpUSD is a **permissionless, yield-bearing asset** backed by institutional-grade Payment Financing (PayFi) vaults. It enables retail access to yield from short-term, stablecoin credit provided to PayFi firms powering the global payments economy. 

### cpUSD Vault

cpUSD is issued through the **cpUSD Vault**, which is built on [Nucleus' BoringVault framework](https://docs.nucleusearn.io/nucleus-architecture/vault-framework?utm_source=chatgpt.com).

Users can deposit USDC/T into the cpUSD Vault, which distributes the capital across two core strategies:

1. PayFi Vaults
2. Liquid Yield-Bearing Stablecoins

Upon deposit, cpUSD is minted and distributed to the user to represent their share of the vault.

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