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Binance Alpha has announced that it will list STBL, the governance token of the STBL protocol, giving early-access traders a first look at the project’s RWA–backed stablecoin ecosystem.
Summary
- Binance Alpha will list STBL, the governance token of the STBL protocol, starting this week.
- STBL governs a stablecoin system centered on USST, which is backed by real-world assets like U.S. Treasuries.
- Led by Tether co-founder Reeve Collins, the project aims to align user participation with stablecoin development and yield generation.
Dubai, UAE, September 12, 2025 — Binance Alpha, the early-access platform of Binance, has announced that it will list STBL, the governance token of the STBL protocol, starting this week.
The launch comes after STBL completed a pre-seed round led by Wave Digital Assets, a digital asset manager with more than $1 billion under management.
Binance Alpha gives traders exposure to projects before they reach the main exchange, offering a first look at tokens building infrastructure and real-world applications. The addition of STBL highlights the platform’s growing focus on projects combining traditional finance models with decentralized frameworks.
STBL’s role in the ecosystem
STBL functions as the governance token for a broader stablecoin system centered on USST, a stablecoin designed to be backed by real-world assets such as U.S. Treasuries. The token enables community participation in protocol upgrades, parameter adjustments, and treasury allocation. The model is designed to align user and protocol incentives while introducing accountable mechanisms as new features are rolled out.
Founder’s perspective
Reeve Collins, the STBL’s founder and co-founder of Tether, described the token as the governance layer of the project’s ecosystem: “The STBL token represents our vision for giving users an active role in shaping how stablecoins evolve. By connecting stablecoins to real-world collateral and routing benefits back to the community, we believe this model can help push the sector forward.”
Background
Reeve Collins is the co-founder of Tether, the world’s first and largest stablecoin, and is leading the STBL project. STBL is the governance token of the STBL protocol, allowing users to mint the USST stablecoin while earning yield. The stablecoin is RWA-collateralized, meaning holders receive profits from the underlying assets while also integrating DeFi instruments into their investment strategy to increase yields and unlock liquidity.
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