Concordium, a Layer-1 blockchain designed for institutional and regulatory compliance, has expanded its PayFi ecosystem with the addition of three stablecoin issuers: StablR, Colb, and VNX. The three issuers will deploy their assets using Concordium’s Protocol-Level Token (PLT) framework, which allows stablecoins to be held directly in wallets without the use of smart contracts, reducing common risks associated with other blockchains such as Ethereum and Solana. The new stablecoins include fiat-backed tokens denominated in British Pound (GBP), US Dollar (USD), and United Arab Emirates Dirham (AED), enhancing Concordium’s reach across multiple regions. By integrating token issuance at the protocol layer and utilizing a built-in identity framework, Concordium aims to provide a more secure and compliant foundation for real-world financial applications. “We’re thrilled to partner with StablR, Colb, and VNX to bring their stablecoins to our PayFi ecosystem,” said Concordium CEO Boris Bohrer-Bilowitzki. “The arrival of three new issuers showcases how Concordium is becoming the home for compliance-ready Stablecoins looking to be adopted for real world use cases.” Among the new participants, Europe-based StablR offers EUR- and USD-pegged stablecoins and holds an Electronic Money Institution (EMI) license for regulatory compliance within the European Union. Backed by Tether and Kraken, StablR has achieved rapid traction since launching six months ago. Its stablecoins are now listed on over 50 platforms, including Kraken, Bitfinex, Bybit, and HTX, with more than 150 trading pairs and over €3 billion in transaction volume recorded in the first half of 2025. “At StablR, we are excited to support innovative protocols, and Concordium stands out for its strong focus on KYC and security. Launching EURR and USDR on Concordium is an important step toward bringing compliant stablecoin solutions to the ecosystem. We look forward to a successful rollout and continued collaboration to build trust and accessibility in digital finance,” said StablR Founder & Chief Executive Officer, Gijs op de Weegh. Colb, whose USD-backed stablecoin is secured by reserves held in Swiss banks, offers users access to Tokenized Structured Products (TKSPs) that reflect the performance of real-world assets. Meanwhile, VNX, headquartered in Liechtenstein, will issue a GBP-pegged stablecoin backed 1:1 by reserves maintained in financial institutions across Switzerland and Liechtenstein. The expansion comes amid growing momentum in stablecoin adoption. According to Visa, global stablecoin transaction volumes exceeded $7.1 trillion over the past year, though only a small fraction, around 1%, has been used for real-world payments. A number of issuers, including Spiko, Agant, Aryze, Eurodollar, Noon, Deep Blue, and AEDX, are actively exploring Concordium’s infrastructure to facilitate more compliant and scalable payment solutions. Concordium’s integration of identity and token functionality at the protocol level aims to support this transition into mainstream financial use. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
