The stablecoin-focused Noble protocol, which has operated as an appchain within the Cosmos ecosystem, has announced a major strategic pivot. It will sunset its Cosmos SDK-based blockchain and launch a new, standalone EVM-compatible Layer 1 network. The move signifies a departure from its original role as an interoperability hub using the Inter-Blockchain Communication (IBC) protocol.
The new Noble EVM is scheduled to launch on March 18, 2026. The team has committed to supporting the existing Cosmos-based chain "in the short term" during the transition. Noble founder Jelena Djuric explained the rationale, stating, "Cosmos has served us well for the last couple of years, but for us, it’s time to move on. Moving to EVM allows us to create a performant stack and a strong base product layer for builders to plug into. The goal is to be a stablecoin and FX infra people build on, not just a single app."
Historically, Noble acted as a critical intermediary for major real-world asset issuers like Circle, Hashnote, and Ondo Finance, facilitating the movement of their assets onto dozens of Cosmos-based chains. Since 2023, the network has processed over $22 billion in transaction volume across 50 chains, positioning itself as a neutral liquidity hub.
The next phase of Noble's development focuses on enabling "real end-user stablecoin applications." The team plans to form active partnerships across DeFi, privacy, corporate, and payments use cases, with a specific emphasis on foreign exchange and payment flows. The EVM L1 will be "purpose-built for stablecoin applications" and will leverage the Commonware stack alongside an institutionally-focused Proof of Authority validator set.
A central feature of the new chain will be Noble's own USDN stablecoin, a Treasury-backed, yield-paying asset launched in 2024 using M^0's technology. USDN will be integrated into a managed vault on the Noble EVM using a Pendle strategy executed on HyperEVM to provide yield to depositors.
Furthermore, the new chain will be anchored by a novel DeFi protocol designed for FX swaps between U.S. dollar and euro stablecoins. Noble also plans to become a primary venue for token issuance and trading, including the introduction of capital-efficient FX perpetuals. This flagship DEX will support liquidity for the NOBLE governance token.
The team is still finalizing details for asset migration from the Cosmos chain to the new EVM L1, with the ultimate goal of having "all liquidity eventually living on the Noble EVM." Importantly, the announcement confirms that Noble's IBC connections to existing Cosmos chains will remain unchanged, ensuring continued interoperability for the ecosystem that relies on its liquidity.
