The greenback-anchored asset, USDCBL, will function as margin for onchain perpetual contracts, while the earnings produced by cash and Treasury holdings are kept within the protocol.
The Decibel Foundation announced the introduction of a protocol-specific stablecoin, USDCBL, which Bridge facilitates, prior to the February mainnet debut of its Aptos-powered decentralized trading venue, as the final technical preparations are completed.
Based on a statement provided on Thursday, the American dollar-pegged asset will act as margin for onchain perpetual futures commerce, an arrangement by which reserve-linked revenue is captured internally rather than depending on external stablecoin providers.
Decibel, nurtured by Aptos Labs, intends to debut this month with an entirely onchain perpetual futures platform utilizing a unified cross-margin profile. The venue stated that its December trial phase drew over 650,000 distinct participants and surpassed 1 million daily transactions, though these statistics have not been independently confirmed.
During the debut, participants will transfer USDC and exchange it for USDCBL as a component of the registration procedure. This asset is generated through Bridge’s Open Issuance infrastructure, which allows ventures to build compliant, entirely backed tokens with embedded conversion pathways; notably, Stripe finalized its purchase of Bridge in late 2025.
Based on an X update shared on Thursday by Decibel, the organization indicated that USDCBL holdings will consist of a blend of liquid currency and short-term US Treasuries, whereby the earnings produced from these instruments are kept within the decentralized framework.
The statement further mentioned that securing reserve proceeds might diminish the dependency on transaction charges or subsidy schemes as fundamental income streams, while a portion of this capital is reinvested into protocol enhancements and ecosystem ventures to foster long-term growth.
“This effort does not involve debuting yet another stable asset,” the organization stated, characterizing USDCBL as a fundamental trading architecture instead of an independent retail coin, as a new standard for decentralized finance is established through this release.
Ecosystem-Native Stablecoins Gain Momentum Across Crypto and Banking
The movement toward network-aligned greenback tokens encompasses both the blockchain and conventional financial sectors, as platform managers increasingly launch stablecoins customized for their specific infrastructures. Through this trend, a preference for internal liquidity is demonstrated, rather than a total reliance on outside providers.
The most striking parallel to Decibel involves Hyperliquid, a decentralized perpetual futures platform that introduced its proprietary stable asset, USDH, in September. This rollout occurred after a high-stakes auction for issuance privileges was concluded among competing entities.
The greenback-linked asset originates on the platform’s Ethereum-integrated execution environment, HyperEVM, and functions as primary margin throughout the venue. This architecture ensures that a lower dependency on outside originators is maintained, while streamlining the exchange’s internal liquidity.
This movement reaches past blockchain-centric hubs, as JPMorgan Chase debuted JPM Coin in November for corporate clearing on its digital ledger network. Through this system, tokenized American dollar holdings are represented based on deposits secured at the financial institution.
The custodial asset underwent testing on Coinbase’s Base network, providing corporate users entry to around-the-clock ledger-driven transactions. Unlike widely accessible stablecoins, JPM Coin is restricted, as access is granted exclusively to the organization’s wholesale clientele.
Financial technology providers have also entered the fray, as PayPal debuted PYUSD in 2023 as a greenback-secured token integrated into its transaction framework. Through this mechanism, enhanced authority over clearing processes is exercised by the firm within its proprietary ecosystem.
In 2025, the corporation debuted a 3.7% yearly incentive scheme for American customers carrying PYUSD within PayPal or Venmo digital purses. Through this initiative, the stable asset is integrated more deeply into the firm’s retail transaction environment.
