Concordium expands PayFi ecosystem with three new Stablecoins

Enterprise-focused blockchain Concordium has broadened its PayFi ecosystem by onboarding three additional stablecoin issuers: StablR, Colb, and VNX.

The platforms will leverage Concordium’s Protocol-Level Token technology to issue assets directly on its chain, bypassing the need for smart contracts.

According to the company, this approach significantly reduces risks commonly associated with blockchains such as Ethereum and Solana.

Strengthening stablecoin infrastructure

Concordium highlighted the move as a step toward positioning itself as a hub for compliance-ready stablecoins intended for real-world applications.

“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,” said Concordium Chief Executive Officer Boris Bohrer-Bilowitzki.

The new stablecoins will be pegged to three different fiat currencies—GBP, USD, and AED—broadening the ecosystem’s global reach.

Concordium’s design integrates an identity (ID) layer at the protocol level, coupled with token issuance technology that mitigates security risks and provides the infrastructure needed for stablecoin deployment.

Profiles of the new issuers

StablR, a European issuer backed by Tether and Kraken, will introduce both euro (EURR) and dollar (USDR) stablecoins to Concordium.

The company holds an Electronic Money Institution (EMI) license, ensuring EU regulatory compliance.

Since its launch six months ago, StablR has achieved rapid adoption, with listings on more than 50 exchanges—including Kraken, Bitfinex, Bybit, and HTX—supporting over 150 trading pairs.

In the first half of 2025, StablR recorded €3 billion in transaction volume.

“At StablR, we are excited to support innovative protocols, and Concordium stands out for its strong focus on KYC and security,” said StablR Founder and Chief Executive Officer, Gijs op de Weegh.

“Launching EURR and USDR on Concordium is an important step toward bringing compliant stablecoin solutions to the ecosystem.”

Colb, an issuer of USD-backed stablecoins with reserves held in Swiss banks, offers investors access to Tokenized Structured Products (TKSPs).

These financial instruments mirror the performance of real-world assets, aiming to bridge traditional markets with blockchain-based products.

VNX, headquartered in Liechtenstein, will bring a British Pound-backed stablecoin to Concordium.

The asset is fully collateralized 1:1 with GBP reserves held in banks across Switzerland and Liechtenstein, ensuring transparency and reliability.

Stablecoins and the push toward payments

The integration of these issuers comes amid rising global stablecoin usage. According to Visa, stablecoin transactions surpassed $7.1 trillion in the past 12 months.

However, only 1% of that volume is currently linked to real-world payments. Industry participants—including issuers such as Spiko, Agant, Aryze, Eurodollar, Noon, Deep Blue, and AEDX—are working to accelerate mainstream adoption of stablecoin-based transactions.

By combining its protocol-level ID system with token technology, Concordium aims to provide an environment where stablecoins can operate securely while aligning with evolving regulatory frameworks.

The addition of StablR, Colb, and VNX is expected to further support Concordium’s positioning as an enterprise-focused chain for stablecoin innovation and compliance.

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