At a Glance
- Noble is shifting from Cosmos to Ethereum, launching a new EVM layer-1 on March 18.
- The move aims to use a stronger tech stack, open-source ‘Commonware’, and the Reth Ethereum client to improve performance.
- The platform has processed $22 billion in transaction volume since 2023, supports 30,000 monthly active users, and serves as the primary liquidity layer for over 50 blockchains.
Why it matters: It signals a broader trend of stablecoin networks migrating to Ethereum for scalability and developer accessibility.
Noble, a stablecoin blockchain, announced on Tuesday that it will be migrating its Cosmos SDK-based blockchain to a standalone EVM layer-1, planning to launch on March 18. The transition is driven by the need for a better tech stack and a wider developer community.
Why the Switch?
The team cited three main motivations:
- Tech Stack – Access to a superior Rust-based ‘Commonware’ framework and the Reth Ethereum client, which offers higher performance.
- Developer Access – EVMs are where most crypto developers already work, improving user and developer accessibility.
- Scalability – Cosmos architecture has scaling limits that were constraining product development.
‘We are moving to an EVM-compatible layer-1 to unlock better performance and open-source tooling,’ said the Noble team.
New Chain Features
| Feature | Description |
|---|---|
| Transaction Finality | Sub-500 millisecond finality |
| Smart Contracts | Permissionless deployment |
| Payment Lanes | Dedicated lanes for real-world payment transactions |
| Native Stablecoin | Focus on the Noble Dollar (USDN) |
The new architecture also emphasizes the Noble Dollar (USDN), which has a market capitalization of $36 million. Issuance peaked at $128 million in July 2025 but has since declined 72 % to current levels, according to CoinGecko.
Stablecoin Snapshot
| Metric | Value |
|---|---|
| Total Transaction Volume (since 2023) | $22 billion |
| Monthly Active Users | 30,000 |
| Supported Blockchains | Over 50 |
| Native Stablecoin Market Cap | $36 million |
| Peak USDN Issuance | $128 million |
| Current USDN Issuance | 72 % lower than peak |
Industry Context
- Ethereum dominates stablecoin and tokenized RWA traffic, holding 66 % market share when layer-2 and EVM chains are included, according to RWA.xyz.
- Other projects are following suit: FIFA migrated its NFT platform from Algorand to an EVM-compatible chain in April; XRPL launched its EVM sidechain in June; Injective and Sei are also pursuing stronger EVM integration.
Timeline
| Date | Event |
|---|---|
| 2023 | Noble processes $22 billion in transaction volume |
| July 2025 | USDN issuance peaks at $128 million |
| March 18, 2026 | Planned launch of the new EVM layer-1 |
Key Takeaways
- Noble’s migration to Ethereum is part of a larger shift toward EVM-compatible infrastructure for stablecoin networks.
- The new chain promises faster finality, permissionless contracts, and dedicated payment lanes.
- The move could enhance developer participation and address scaling limitations of Cosmos.
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