Circle Stablecoin USDC To Launch on Cosmos

Cosmos will finally have its own native stablecoin, with Circle partnering with crypto startup Noble to deploy USDC directly to the ecosystem

article-image

FOTOGRIN/Shutter-stock modified by Blockworks

share

Shortly after coming out of stealth, token protocol Noble has announced it has partnered with Circle to bring USD Coin (USDC) natively to the Cosmos ecosystem in Q2.

USDC is the second-largest stablecoins in the cryptocurrency ecosystem behind Tether, and is pivotal to many decentralized finance (DeFi) projects. It is often used as collateral for lending and borrowing to generate yield due to its ability to remain steadily pegged to the US dollar.

Although it recently went through a few hiccups following the collapse of Silicon Valley Bank and Silvergate bank, the stablecoin has now regained its peg to the dollar.

Noble CEO Jelena Djuric told Blockworks in an interview that the Cosmos inter-blockchain communication protocol (IBC) ecosystem hasn’t yet gained a native fiat-backed stablecoin that is not only highly liquid but also fully collateralized on its network.

“That’s about to change with Noble’s first issuance partner, Circle,” she said. “They’re bringing a native USDC to Cosmos for the first time.” Noble, a token issuance protocol, will help facilitate USDC’s management and issuance.

Loading Tweet..

Currently on Cosmos, the major stablecoins can only be accessed through bridge protocols such as Gravity and Axelar. Estimates suggest around 100 different bridged USDC assets currently exist across the Cosmos landscape.

Now that DeFi protocols can stick with just one single official stablecoin, Noble hopes this partnership will inject and and facilitate new liquidity in the ecosystem. Circle first flagged intent to issue USDC on Cosmos last September.

“It’s also for the users themselves to have a seamless process of accessing native assets in the ecosystem,” Djuric said. “At the end of the day, we’re seeking to rectify the challenges that users and app chains face when interacting with bridge assets.”

The decision to quickly onboard USDC onto Cosmos is also related to the fact that popular lending protocol dYdX will soon migrate from Ethereum onto the Cosmos IBC.

“We’re very much doing this in preparation for dYdX’s launch. We see this as a huge moment for the Cosmos and the app chain thesis because this is a project that has already got a lot of success on Ethereum,” Djuric said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Solana saw $78 million in REV for August

article-image

Lit Protocol’s Vincent is shifting agentic finance from toy demos to production rails

article-image

The new system aims to unify Europe’s fragmented tokenized asset settlement and cut cross-border costs

by Blockworks /
article-image

Tron slashed fees by 60% as Plasma looms, threatening its USDT moat

article-image

The acquisition adds evaluation-based funding to Kraken Pro, giving traders access to capital on performance

by Blockworks /
article-image

The deal merges real-time pricing data with on-chain credit ratings, aiming to boost institutional adoption of decentralized finance

by Blockworks /