The Decibel Foundation, an initiative incubated by Aptos Labs, is preparing to introduce a protocol-native stablecoin ahead of the mainnet launch of its decentralized derivatives exchange on Aptos.
The dollar-backed token, USDCBL, will function as the primary collateral asset for onchain perpetual futures trading. Instead of relying on external issuers, the platform aims to internalize the economics tied to reserve management, keeping yield generated from backing assets within the ecosystem.
Decibel’s exchange is designed as a fully onchain perpetual futures venue operating with a single cross-margin account system. During its December test phase, the platform reported more than 650,000 unique accounts and over 1 million daily trades.
USDCBL Backed by Cash and US Treasurys
At launch, users will deposit USDC and convert it into USDCBL. The token will be issued through Bridge’s Open Issuance infrastructure. Bridge, which was acquired by Stripe in 2025, enables regulated and fully collateralized stablecoin issuance.
USDCBL reserves are expected to consist of cash and short-term US Treasury instruments. Yield generated from these reserves will remain within the protocol, potentially reducing dependence on trading fees.
Growing Trend of Ecosystem-Aligned Stablecoins
Decibel’s approach mirrors a broader industry shift. Platforms are increasingly launching network-specific dollar tokens to optimize liquidity and retain reserve income. Examples include initiatives by JPMorgan Chase and fintech firms such as PayPal, reflecting expanding stablecoin integration across both crypto and traditional finance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.