Concordium, the enterprise-focused Layer 1 blockchain known for its built-in identity layer and protocol-level token architecture, announced today that three stablecoin issuers will natively launch assets on its PayFi ecosystem. StablR, Colb and VNX will use Concordium’s Protocol-Level Token technology to issue coins that reside directly in user wallets without relying on smart contracts, a design the company says reduces the kinds of counterparty and code-risk commonly seen on other chains.
“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.”
The three stablecoins will be pegged to different fiat currencies, GBP, USD and AED, supporting broader geographic and commercial reach. Concordium highlights its protocol-level ID layer and zero-knowledge-enabled privacy features as key infrastructure that lowers security risks and enables compliance controls important for institutional issuance and payments.
European issuer StablR, which the announcement says is backed by Tether and Kraken and holds an Electronic Money Institution (EMI) license for EU compliance, will bring euro and USD stablecoins to Concordium. Since launching six months ago, StablR has been listed on more than 50 exchanges, including Kraken, Bitfinex, Bybit and HTX, supports 150+ trading pairs and reported €3 billion in transaction volume in H1 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.
Concordium Strengthens PayFi Ecosystem
Colb, a USD-backed stablecoin with reserves held in Swiss banks, will also issue on Concordium and plans to open investor access to Tokenized Structured Products (TKSPs) that mirror the performance of real-world assets. Liechtenstein-based VNX will deploy a British Pound stablecoin backed 1:1 by GBP reserves held in banks in Switzerland and Liechtenstein.
The move comes as stablecoin activity continues to grow. The announcement cites Visa data showing stablecoin transactions crossed $7.1 trillion in the past 12 months, although on-chain payments for everyday commerce still represent only a sliver of total transaction volumes. Several issuers, mentioned by Concordium as Spiko, Agant, Aryze, Eurodollar, Noon, Deep Blue and AEDX, are also pursuing mainstream payment use cases and leveraging Concordium’s protocol features to accelerate adoption.
Concordium, founded in 2018, positions itself as a research-backed chain for enterprises: its protocol-level identity guarantees verified yet privacy-preserving interactions, while programmable tokens and PayFi features, such as time-released payments, compliance controls and ID-based geofencing, are designed to support cross-border and regulated use cases.
The company says those capabilities make it an attractive destination for “enterprise-ready” stablecoins that must meet emerging regulatory expectations while enabling real-world payments. Taken together, the new issuances mark a notable step in Concordium’s effort to build a compliance-centric stablecoin hub, one that seeks to blend the programmability of blockchain money with custody, identity and regulatory guardrails demanded by banks and corporate users.
