Concordium will secure native launches of four stubcoins backed by major currencies and expand the PayFi ecosystem

Stablecoins are the basis of crypto transactions, but most rely on smart contracts. This is at the heart of countless hacks and exploits. Concordium is rewriting that script. The enterprise-centric Layer 1 blockchain has landed four new stub coins (4 new stub coins issued natively without smart contracts) that provide a safer and more direct path to digital money.

Today, Concordium announced that four Stablecoins, GBPA, USN, DBUSD and AEDX, will be issued natively on the platform without smart contracts. This means that the tokens reside directly above the chain held in the wallet, and the central layer of the code is not open to the exploit. This technological change significantly reduces the risk of common hacking that plagues the Stablecoin space.

Projects published on Concordium include Agant, Noon, Deep Blue, and AEDX.

“We are delighted to welcome such exciting projects into an ecosystem of evolving ecosystems,” said Boris Bohrer-Bilowitzki, CEO of Concordium. “These partnerships reflect the success of our platform and the ability to support smart contractless execution, especially when it comes to Stablecoins.”

Agant, a UK fintech company and a member of both the Digital Pound Foundation and Stablecoin Standard, is launching GBPA, a pound-backed Stablecoin. Their goal is to fill traditional funds in crypto infrastructure, allowing for smoother cross-border transactions.

Noon is unfolding USN, a stub coin covered in dollars backed by USDT or USDC deposits. The collateral then works with a delta neutral strategy to generate yields. The company recently launched a public beta, which has already grown by locking a total of $33 million. The team includes talents from McKinsey, Goldman Sachs, Abe and OKX.

DBUSD, published by Deep Blue, is the first Stablecoin in Jersey, marking a milestone in pushing to the island’s digital finance. Stick to UAE Dirham, AEDX focuses on the MENA and CIS regions through integration into major financial and commercial channels. The team is set to issue 5 million AEDX tokens in the pilot phase, with room to grow to 1 billion over the next few years. AEDX also commits most of its profits to public goods and charity initiatives.

“Starting DBUSD at Concordium is a key milestone in our roadmap,” said Julien Bahuerel, CEO and co-founder of Deep Blue. “We look forward to redefine how Stablecoins can move cross-border funding with confidence and efficiency over the next few years.”

With Stablecoins pinned to three major Fiat currencies (USD, GBP, and AED), Concordium has established itself as a strong competitor for global financial applications. Built-in ID layer and native token infrastructure remove the usual needs of custom smart contracts and make it easier for agencies with less headaches to deploy digital assets easily.

Founded in 2018, Concordium blends programmable protocol-level tokens and geofiucense compliance tools and regulatory-friendly features, making it appealing to fintech companies looking for more control and stability in their deployment.