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Noble, a stablecoin-focused blockchain that has processed over $22 billion in transactions since 2023, will migrate from the Cosmos SDK to a standalone Ethereum Virtual Machine Layer 1 network launching March 18, the protocol announced Monday.
The transition reflects Noble’s push for broader developer adoption and Ethereum-compatible infrastructure after serving more than 30,000 monthly active users across 50 connected blockchains, with the team citing performance limitations and tooling gaps in the Cosmos ecosystem as primary drivers for the move.
“We’re transitioning to a high-performance EVM L1 purpose-built for stablecoin applications,”
The announcement said, highlighting goals of sub-second transaction finality and seamless smart contract support. Industry observers interpret the move as part of a larger trend in which specialized chains realign toward Ethereum-compatible infrastructure to tap into deeper liquidity and robust tooling.
Noble’s announcement cites three principal drivers for the migration:
1. Superior technological stack: The new chain will leverage open-source tools such as the Rust-based Commonware framework and the Reth Ethereum client, offering higher performance and better scalability than the existing Cosmos architecture.
2. Developer familiarity: EVM compatibility places Noble within the largest community of blockchain developers, easing onboarding and accelerating application development.
3. Broader ecosystem integration: Aligning with Ethereum standards enables direct interoperability with mainstream wallets, analytics platforms, and decentralised applications.
The new design will include permissionless smart contract deployment, dedicated payment lanes for real-world transactions, and sub-500 millisecond block finality, performance features key to payment rails and foreign exchange (FX) applications.
“By adopting EVM and integrating modern tech primitives, we aim to reduce friction for builders and users alike. The goal is to enable fast, cost-efficient stablecoin use cases that the original Cosmos SDK couldn’t support at scale.” — Lead engineer
Noble’s native stablecoin, Noble Dollar (USDN), will serve as a central asset on the new EVM chain. While USDN’s market cap has fluctuated—peaking at approximately $128 million in mid-2025 before declining—current data still show continued usage within Noble’s ecosystem.
Bullish view: Some analysts argue that EVM migration will attract greater liquidity and developer activity, positioning Noble as a competitive liquidity layer for stablecoin and FX markets.
Risk considerations: Others caution that technical migrations carry execution risks, including bugs or delays, and could temporarily disrupt existing liquidity flows if not carefully managed.
“EVM compatibility isn’t just a buzzword; it’s where the majority of stablecoin demand and tooling lives today,” – Blockchain market strategist
Noble’s transition underscores a broader industry pattern in which projects originally launched on non-EVM platforms reassess their infrastructure choices.
Other chains, including some within the Cosmos ecosystem, have also signalled interest in strengthening or pivoting toward EVM compatibility.
For the Cosmos community, Noble’s migration raises questions about long-term ecosystem liquidity, especially given its historical role as a hub for native asset issuance.
While the protocol plans to maintain existing Inter-Blockchain Communication (IBC) connections and a transitional support window for assets, the long-term shift of liquidity and activity to an EVM chain could have ripple effects across interconnected networks.
Project stakeholders in Cosmos have responded with cautious interest, noting that interoperability protocols could help retain cross-chain flows even as individual projects evolve their base layers.
