Decibel and Bridge Launch Native Stablecoin USDCBL, Pre-deposits Surpass $42 Million in 12 Hours

According to a post by DecibelTrade on platform X, Decibel, a fully on-chain trading engine incubated in collaboration with Aptos Labs and built on the Aptos infrastructure, announced the launch of its protocol-native USD stablecoin, USDCBL, in partnership with Bridge. This stablecoin is issued through Bridge's Open Issuance platform and is backed by US dollar reserves.

Decibel's pre-deposit feature is now live, having attracted over $42 million in deposits within the first 12 hours of opening. After the Decibel mainnet launches, users can deposit USDC to convert it into USDCBL. This stablecoin will serve as Decibel's default collateral asset, initially supporting perpetual contract trading, with plans to subsequently introduce spot and RWA trading sections.