Four New Stablecoins Set To Launch On Concordium Layer 1, Expanding PayFi Ecosystem
In Brief
Concordium has announced that Agant, Noon, Deep Blue, and AEDX will issue their stablecoins on its blockchain, leveraging its Protocol-Level Token technology to enable seamless integration into the PayFi ecosystem.
Blockchain platform designed with enterprise needs in mind, Concordium revealed that four prominent stablecoin platforms—Agant, Noon, Deep Blue, and AEDX—will now issue their stablecoins directly on its blockchain. These platforms have opted to utilize Concordium’s Protocol-Level Token technology, a feature that will enable them to integrate seamlessly into the expanding PayFi ecosystem.
As a scalable Layer 1 blockchain, Concordium distinguishes itself with a unique identity layer integrated directly into its protocol. This feature ensures that user interactions are both verified and private, facilitated through the use of zero-knowledge proof technology.
“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 they also underline the real-world impact of Web3 technology, particularly when it comes to stablecoins,” said Boris Bohrer-Bilowitzki, CEO of Concordium, in a written statement. “We look forward to working more closely with Agant, Noon, Deep Blue, and AEDX and to welcoming more innovative projects into our ecosystem,” he added.
Concordium Launches Four Native Stablecoins Pegged To USD, GBP, And AED, Advancing Secure On-Chain Finance
The four newly introduced stablecoins on Concordium will operate as native tokens, meaning they can be issued and stored directly in user wallets without relying on smart contracts. This eliminates common attack vectors that are present on smart contract chains such as Ethereum and Solana, significantly reducing risk.
Among these assets, GBPA represents a stablecoin backed one-to-one by the British pound sterling and issued by Agant, a UK-based fintech company. Agant is a recognized member of both the Digital Pound Foundation and the Stablecoin Standard, organizations focused on bridging traditional finance with decentralized technologies. Through GBPA, Agant aims to make cross-border payments more seamless and promote greater access to decentralized finance for broader user bases.
USN, pegged to the US dollar, is issued by Noon and supports minting through the deposit of USDT or USDC as collateral. This collateral is then deployed into delta-neutral strategies to generate yield. Since launching its public beta, Noon has already grown its total value locked (TVL) to $33 million, supported by a team with backgrounds spanning institutions such as McKinsey & Company, Goldman Sachs, Aave, and OKX.
DBUSD and AEDX are the final two stablecoins, issued by Deep Blue and AEDX respectively. DBUSD is the first stablecoin to be launched from Jersey and is fully backed by US dollar reserves, signaling the jurisdiction’s support for emerging financial technologies. AEDX, tied to the United Arab Emirates Dirham, is built for integration across commercial and financial sectors 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 to 5 years based on market acceptance and demand. AEDX pledges most of its profits to funding public goods and charitable initiatives.
Collectively, these stablecoins, which are pegged to three major fiat currencies—USD, GBP, and AED—highlight Concordium’s growing relevance in the stablecoin space. Their introduction reinforces Concordium’s reputation as a leading Layer 1 for stablecoin issuance and extends the opportunities available to users within its growing PayFi ecosystem. Conceived to meet the demands of real-world applications, the 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.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
