Noble_xyz, a specialized blockchain platform, will expand the presence of the USDY digital currency within the Cosmos and IBCProtocol ecosystems. Noble will facilitate this integration as the platform responsible for issuing assets across the chain. However, officials emphasize that USDY is not intended for marketing, sale, or distribution within the United States or to U.S. persons. In addition, USDY has not undergone registration under the US Securities Act of 1933.
⚠️ Important: USDY is not and may not be offered, sold or otherwise made available in the US or to US persons. USDY is also not registered under the US Securities Act of 1933.
🌐 Noble is a purpose-built Cosmos blockchain that builds interoperability protocols for…
— Ondo Finance (@OndoFinance) April 18, 2024
Noble is specifically designed to develop interoperability protocols that enable smooth integration and transfer of native assets across more than 90 blockchains. Noble is also recognized as the issuer of $USDC within the Cosmos ecosystem, with a substantial transfer volume of over $750 million in the last 30 days.
Integration via Noble
Noble’s blockchain technology facilitates the seamless integration of Ondo’s yield-bearing tokens with all associated Cosmos chains, including prominent networks such as Osmosis Zone, dYdX, and CelestiaOrg, among others. Last month saw an impressive transfer volume of approximately $2.5 billion across these chains, with more than 7.5 million unique transfers. USDY is defined as a tokenized note backed by short-term US Treasury bonds, giving its holders the dual benefits of stablecoin utility and yield yields.
Nathan Lallman, CEO of Ondo Finance, shared his excitement about the native integration of Ondo products into the Cosmos ecosystem. He emphasized Noble’s critical role as an issuance partner in increasing utility and liquidity for application chains and their users. Jelena, the founder of Noble, also commented on the launch, noting the significant benefits such as increased liquidity, better interoperability and improved user experience that the native issuance of USDY on Noble promises to deliver.
Once launched on Noble, USDY will be immediately applicable in a wide range of applications, including trading, savings, payments and as collateral. It is intended to mirror USDC’s function in using Noble as a central routing hub between application chains, increasing liquidity and ensuring a seamless user experience across the ecosystem.