Enterprise-focused blockchain Concordium announces that four leading stablecoin platforms will issue their assets natively on its chain. Agant, Noon, Deep Blue and AEDX start leveraging Concordium’s Protocol-Level Token technology to power their assets.
Four stablecoins pegged to USD, GBP, AED arrived at Concordium's L1
According to the official statement by its team, Concordium, a novel layer-1 blockchain for payments, welcomes four new stablecoin protocols to its ecosystem of supported projects. Stablecoins by Agant, Noon, Deep Blue and AEDX will be deployed to Concordium, becoming accessible for all blockchain users.
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 that are present on smart contract chains, such as Ethereum and Solana, significantly reducing risk.
Concordium CEO Boris Bohrer-Bilowitzki welcomes new assets on his blockchain and is excited by their potential in upcoming integrations:
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.
He also stressed that Concordium is looking forward to working more closely with Agant, Noon, Deep Blue and AEDX and to welcoming more innovative projects into its ecosystem.
GBPA, a stablecoin pegged to the British pound sterling and fully backed by reserves, is the brainchild of U.K.-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.
Unlocking new opportunities for global PayFi ecosystem
USN, the USD-pegged stablecoin issued by Noon, can be minted by depositing collateral in the form of Tether (USDT) or USD Coin (USDC), with collateral 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.
Julien Bahurel, CEO and cofounder of Deep Blue, expects great innovative developments to happen on Concordium blockchain:
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.
AEDX, dubbed “the stablecoin for a better world,” is pegged to UAE Dirham (AED) and integrated with major financial and commercial entities, particularly in the MENA and CIS markets.
During its pilot phase, five million AEDX tokens are expected to be issued, with the potential to scale to one 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.
Vladislav Sopov
Dan Burgin