Concordium Announces New Stablecoin Issuers In Ecosystem
Concordium Announces New Stablecoin Issuers In Ecosystem. Photo By Ricardo Angel On Unsplash.
Concordium has announced it is partnering with 3 new stablecoin issuers to focus on scaling stablecoin support, according to the company’s newsroom.
The team has revealed that Colb, StablR and VNX stablecoin issuers will have native support for their stablecoin solutions on Concordium. Behind the collaborations is the shift away from giving smart contracts too much control of transfers, instead utilizing wallets to send and accept stablecoin payments for security purposes via the PLT (Protocol Level Token) architecture. This increases the PayFi ecosystem to 10 stablecoin companies scaling global finance with CCD.
Colb created the Colb App, which is a non-custodial wallet that allows users to manage TKSPs (Tokenized Structured Products) via $USC stablecoin. The issuer StablR is focusing on more traditional payment utility with its Euro-backed $EURR and Dollar-backed USDR stablecoins, already live on various exchanges including Bitfinex and Kraken. Alongside similar solutions, VNX has a Gold-backed stablecoin VNXAU from the LBMA (London Bullion Market Association).
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.
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