Decibel, a decentralized exchange built on the Aptos blockchain, is preparing to launch a protocol native stablecoin called USDCBL ahead of its mainnet debut later this month. The dollar backed token is designed to function as core infrastructure for the platform, serving as collateral for fully on chain perpetual futures trading.
USDCBL will be issued through Bridge’s Open Issuance platform, which enables regulated stablecoin creation with integrated on ramp and off ramp capabilities. Bridge was acquired by Stripe in late 2025 as demand for stablecoin infrastructure accelerated across digital asset markets. By leveraging this framework, Decibel aims to align compliance, custody, and liquidity functions within a single ecosystem.
When the exchange goes live, users will deposit USDC and convert it into USDCBL during onboarding. The new stablecoin will then operate as the primary margin asset within a single cross margin account structure. According to the foundation behind Decibel, the exchange will offer fully on chain perpetual futures trading, positioning itself within the expanding derivatives segment of decentralized finance.
Reserves backing USDCBL are expected to consist of cash and short term U.S. Treasurys. Rather than distributing reserve yield externally, the protocol intends to retain income generated from these assets. By internalizing reserve related economics, Decibel seeks to reduce reliance on traditional revenue streams such as trading fees or token incentives. The foundation has described USDCBL as essential exchange infrastructure rather than a broadly circulating retail token.
The move reflects a broader trend among crypto platforms to control stablecoin issuance and capture associated financial benefits. Several exchanges and financial institutions have pursued similar models in recent years, embedding dollar linked tokens directly into their own ecosystems. These strategies aim to strengthen liquidity management while reinforcing network specific utility.
Decibel’s earlier testnet phase reportedly attracted significant participation, with hundreds of thousands of unique accounts and daily trade volumes surpassing one million transactions. While such figures have yet to be independently verified, they suggest strong initial interest in an Aptos based derivatives venue. Aptos has positioned itself as a high throughput layer one network optimized for low latency and scalable decentralized applications.
The integration of a native stablecoin may also enhance capital efficiency within Decibel’s trading environment. By standardizing collateral in USDCBL, the platform can streamline margin management and settlement processes while maintaining tighter control over reserve transparency.
As decentralized exchanges expand beyond spot trading into complex derivatives markets, stablecoins increasingly serve as foundational infrastructure. Decibel’s USDCBL launch underscores the continuing shift toward ecosystem aligned dollar tokens that combine payment stability with protocol level economic incentives.
