NBX Expands Its Cryptoservice Offerings with USDM OTC Minting and Burning

Oslo, 28 March 2025 - Norwegian Block Exchange AS (NBX), a leading cryptoservice provider in the Nordics, announces that the company now offers OTC

Norwegian crypto exchange Norwegian Block Exchange (NBX) has announced the launch of over-the-counter (OTC) minting and burning services for the USDM stablecoin.

The service is now available to NBX’s institutional clients, who can mint and burn USDM in any amounts and at any time, with transactions typically completed within 30 minutes.

The launch of OTC minting and burning is a key milestone in the planned European rollout of USDM, which is being developed by NBX in partnership with Moneta. USDM is a fully-reserved and dollar-denominated stablecoin issued as a Cardano Native Token (CNT).

The token is continuously audited by the decentralized oracle Charli3, with all minting and burning transactions executed on the Cardano blockchain and publicly verifiable.

“We are excited to add OTC minting and burning of USDM to our growing suite of services,” said Stig Kjos-Mathisen, CEO of NBX. “This is a key step in making USDM widely accessible to institutional investors in Europe.”

The launch of the OTC service marks the first phase of USDM deployment at NBX. Direct minting and burning through the NBX trading platform is expected to go live during Q2 2025.

USDM leverages Cardano’s native token technology, which offers several advantages, including low transaction costs, high energy efficiency, and near-infinite scalability.

As a native token - not reliant on smart contracts - USDM also benefits from enhanced security.

In addition to USDM, NBX, together with Moneta and other partners, is also launching a euro-denominated stablecoin (EURM) based on the same technological platform.