PANews reported on December 6 that according to The Block, the Noble blockchain of the Cosmos ecosystem launched a customized USD stablecoin USDN based on the M^0 protocol. This is the first stablecoin issued through the M^0 "stablecoin expansion engine", backed by short-term US bonds and issued by approved minters. Noble connects multiple Cosmos chains through the IBC protocol, aiming to provide a credible digital dollar for the ecosystem. The M^0 protocol distributes revenue to market makers, enhancing liquidity and network benefits.

As reported last month, stablecoin company Noble completed a $15 million Series A financing round led by Paradigm .