Noble's USDN: A New Stablecoin Yielding 4.15% APY on Cosmos

Noble, a blockchain technology company, has launched a yield-paying stablecoin called USDN on the Cosmos network. The stablecoin, which is pegged to the US dollar, offers holders an approximate annual percentage yield (APY) of 4.15%, adjustable based on Treasury collateral. USDN is supported by Keplr Wallet and can be purchased via Moonpay.

The launch of USDN is a shift from traditional fiat-pegged stablecoins, which typically benefit corporate entities. Instead, USDN rewards holders with proceeds derived from short-duration US Treasurys, providing a new source of passive income for investors in the crypto space.

The Cosmos network, a decentralized network of independent parallel blockchains, is known for its high throughput and scalability. The launch of USDN on this network further expands the ecosystem of stablecoins and yield-generating assets available to users.

As the crypto industry continues to evolve, innovative products like USDN are emerging to cater to the diverse needs of investors. The launch of USDN is a testament to the growing sophistication and maturity of the crypto market, as well as the potential for stablecoins to play a significant role in the broader financial landscape.