Norwegian Block Exchange AS

Regulatory Filings • Mar 28, 2025

OTC Minting and Burning of USDM Now Available at NBX

OTC Minting and Burning of USDM Now Available at NBX

Oslo, 28 March 2025 – Norwegian Block Exchange AS (NBX), a leading crypto service provider in the Nordics, announces that the company now offers OTC minting and burning of the USDM stablecoin for its clients. This marks an important step in the planned European rollout of USDM, developed in partnership with Moneta.

USDM is a US dollar-denominated stablecoin issued as a Cardano Native Token (CNT). The token is fully backed by USD reserves, with reserve values continuously verified by the decentralized oracle Charli3. All minting and burning transactions are executed on the Cardano blockchain and are publicly verifiable.

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, offering 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.

NBX, together with Moneta and other partners, is also evaluating the launch of a euro-denominated stablecoin (EURM) based on the same technological platform.

More information and the USDM whitepaper are available at: https://nbx.com/en/usdm

For details about the OTC service: https://nbx.com/no/otc

Media contact:

Stig Kjos-Mathisen

CEO, NBX

Email: stig.aleksander.kjos-mathisen@nbx.com