Stablecoin-focused Noble Protocol will end its Cosmos SDK-based appchain and transition to an independent EVM layer 1 blockchain, The Block reported on Jan. 20.
Noble, which supported stablecoin transfers within the Cosmos ecosystem, plans to expand stablecoin and foreign exchange (FX) trading infrastructure through the new EVM chain.
Noble founder Jelena Djuric (옐레나 듀릭) said, "Cosmos was a good starting point, but now is the time to move to EVM and build stronger infrastructure." She added, "The goal is to be centered on stablecoin and FX infrastructure rather than a single appchain." The existing Cosmos chain will also maintain support in the short term.
Noble has processed more than $22 billion in transactions across 50 chains since 2023. It plans to focus on expanding real-world use cases, including DeFi, privacy and enterprise payments. It will introduce a DeFi protocol that supports FX swaps between U.S. dollar and euro stablecoins, and capital-efficient FX derivatives.
Chi-gyu Hwang
delight@d-today.co.kr