Hassan Maishera
Enterprise-focused blockchain announced on Tuesday, April 22nd, that four leading stablecoin platforms will issue their assets natively on its chain.
In a press release shared with Cryptowisser, Concordium announced that Agant, Noon, Deep Blue, and AEDX have chosen to utilize its Protocol-Level Token technology to power their stablecoins and join its expanding PayFi ecosystem.
The four stablecoins launching on Concordium will benefit from being natively issued and held directly in wallets with no smart contracts. This eliminates common attack vectors present on smart contract chains, such as Ethereum and Solana, significantly reducing risk.
While commenting on the launch, Concordium CEO Boris Bohrer-Bilowitzki said,
“We are delighted to welcome such exciting projects to our evolving ecosystem. Not only do these partnerships reflect the success of our platform and its ability to support smart contract-less execution, but it underlines the real-world impact of web3 technology, particularly when it comes to stablecoins. We look forward to working more closely with Agant, Noon, Deep Blue, and AEDX and to welcoming more innovative projects into our ecosystem.”
Concordium added that GBPA, a stablecoin pegged to British pound sterling and fully backed by reserves, is the brainchild of UK-based fintech firm Agant. A member of the Digital Pound Foundation and Stablecoin Standard, Agant seeks to bridge traditional fiat currency systems with DeFi to promote financial inclusivity and facilitate smooth international transactions.
The second stablecoin, USN, is a USD-pegged stablecoin issued by Noon, which can be minted by depositing collateral in the form of Tether (USDT) or USD Coin (USDC). The collateral is then deployed into delta-neutral strategies to generate yield. Having launched its public beta in recent weeks, Noon’s TVL has already risen to $33 million, while its team boasts a strong mix of TradFi and Web3 experience, ranging from McKinsey & Company, Goldman Sachs, Aave, and OKX.
The remaining stablecoins, DBUSD and AEDX, are issued by Deep Blue and AEDX, respectively. Backed by USD reserves, DBUSD is Jersey’s first-ever stablecoin, a mark of the Crown dependency’s progressive approach to fintech innovation.
AEDX, also known as “the stablecoin for a better world,” is pegged to the UAE Dirham (AED) and integrated with major financial and commercial entities, particularly in the MENA and CIS regions. During its pilot phase, 5 million AEDX tokens are expected to be issued, with the potential to scale to 1 billion over the next 3-5 years based on market acceptance and demand. AEDX pledges most of its profits to funding public goods and charitable initiatives.
Julien Bahurel, CEO and co-founder of Deep Blue, also commented that,
“Launching DBUSD on Concordium is an important milestone in our roadmap, and a reflection of our vision to bridge traditional finance and Web3. We are looking forward to redefining how stablecoins can power cross-border finance with trust and efficiency in the years ahead.”
The stablecoins poised to be deployed on Concordium are pegged to three different fiat currencies in USD, GBP, and AED, supporting global adoption. Launching these stablecoins will reinforce Concordium’s reputation as a leading L1 for stablecoin issuance and extend the opportunities available to users within its growing PayFi ecosystem.
Concordium blockchain’s built-in ID layer and protocol-level token technology significantly reduce security risk, making it an optimum venue for stablecoin issuance. Concordium enables institutions to launch stablecoins natively without smart contracts, paving the way for a dynamic new era of on-chain finance.
Concordium is a scalable Layer 1 blockchain that provides a unique identity layer at the protocol level, ensuring verified and private user interactions through zero-knowledge proof technology. Founded in 2018, the research-backed chain enables Smart Money with programmable protocol-level tokens, advanced PayFi features such as time releases and compliance controls, and secure ID-based geofencing for cross-border transactions, making it the chain of choice for enterprise-ready stablecoins seeking real-world adoption while adhering to new regulatory frameworks.
