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Noble, a stablecoin blockchain, has announced it is moving from the Cosmos ecosystem to Ethereum, citing the need to access a better tech stack and wider developer community. Noble announced on Tuesday that it will be migrating its Cosmos SDK-based blockchain to a standalone EVM (Ethereum Virtual Machine) layer 1, planning to launch on March 18. Noble is a venture capital-backed blockchain originally designed as a neutral liquidity hub for stablecoins and tokenized real-world asset issuance. Due to its evolution into a network supporting real end-user stablecoin applications and DeFi, the team saw the need to transition from its original Cosmos roots to a high-performance Ethereum-compatible L1, they stated. Noble claims to have processed more than $22 billion in transaction volume since 2023, has 30,000 monthly active users, and is the primary liquidity layer for over 50 blockchains. The rationale for switching to EVM was to access a better tech stack and open-source “Commonware” using the Rust-based blockchain framework and Reth Ethereum client, which offers superior performance, said the team. They also said they wanted better user and developer accessibility, which EVMs provide, as it is where most crypto developers already work. There are also scaling limitations with Cosmos architecture, which were constraining product development, they said. Key features of the new chain include sub-500 millisecond transaction finality, permissionless smart contract deployment, dedicated payment lanes for prioritizing real-world payment transactions, and a focus on their own native stablecoin. The move highlights a growing trend of crypto projects using Ethereum as their infrastructure layer. Last year in April, FIFA announced the migration of its NFT platform from Algorand to a new EVM-compatible chain. In June, the XRPL EVM sidechain officially launched on mainnet, Injective launched its EVM chain in November, while blockchains such as Sei have been looking at stronger EVM integration. Ethereum is the current industry standard and dominant network for stablecoins and tokenized RWA. It has a commanding market share of 66% when layer-2 and EVM chains are included, according to RWA.xyz.
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