TechFlow reports on December 6, according to The Block, the Cosmos-based Noble blockchain announced it will launch a U.S. dollar-pegged stablecoin USDN using the M^0 protocol, becoming the first project to adopt this infrastructure. M^0 is a stablecoin scaling engine operating on Ethereum that enables developers to build customized stablecoins based on its native $M token.
Previous report, Noble raised $15 million in a Series A round led by Paradigm. The project focuses on cross-chain stablecoin transfers via the IBC protocol and currently supports around 50 Cosmos-based chains. Unlike USDT and USDC, the M^0 protocol distributes yield from its staked assets (U.S. short-term Treasuries) to designated market makers including Caladan and Galaxy.
