The STBL protocol launched by the original Tether co-founder splits the stablecoin income into interest-bearing NFT YLD

Former Tether co-founder Reeve Collins launched the STBL protocol, which splits yield-generating RWAs (such as Franklin Templeton BENJI and BlackRock BUIDL) into a tradable US dollar stablecoin (USST) and an interest-bearing NFT (YLD). Users can deposit their assets and retain their principal and yield separately. The protocol is designed to comply with the GENIUS Act, with USST maintaining its peg through overcollateralization and an incentive mechanism. The STBL governance token is already listed on multiple exchanges, and the protocol is expected to be publicly available in the fourth quarter.