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$21B+ settled
$125M USDN minted in 3 months
$2M+ paid out in yield
@noble_xyz numbers signal infrastructure moving into a default role
Native yield-bearing stables operate differently:
Clear origin layers → transparent collateral and solvency by design
Battle-tested rails (IBC, CCTP) → resilient settlement and built-in redundancy
Backed by Paradigm, Polychain, Circle → a cap table designed for scale
2026 is shaping up as the year yield-bearing stables mature into core money legos
Usage compounds steadily when the rails are solid
Early adoption builds the edge