Nonco Brings Institutional FX Liquidity On-Chain, Powered by Avalanche

Nonco, a leader in institutional digital asset trading, has launched its on-chain FX initiative on the Avalanche network, establishing a bridge between institutional FX liquidity and the rapidly expanding stablecoin market.

Bringing Institutional-Grade FX Pricing & Liquidity On-Chain

Stablecoins have become a cornerstone in global finance, with leading USD stablecoins now exceeding $200 billion in market capitalization. Despite this growth, non-USD stablecoins—those pegged to the euro, Mexican peso, Brazilian real, Hong Kong dollar, and other currencies—remain underdeveloped. This stagnation is largely due to limited and fragmented liquidity on local exchanges, operational friction between traditional and blockchain markets, and high conversion costs.

Built on Avalanche’s C-Chain, the network’s main liquidity hub, Nonco’s FX On-Chain protocol automates conversions between stablecoins backed by local currencies and the US dollar, including major stablecoins and other digital assets. This solution is designed to deliver a more operationally efficient FX market for institutions and enterprises, providing faster, more cost-effective payments, remittances, and cross-border transactions.

Nonco’s FX On-Chain protocol tackles these barriers by securely and seamlessly connecting established institutional FX liquidity providers to the Avalanche-based protocol. Key features include:

• Institutional liquidity provision: Through direct connections with established institutional players, clients access FX liquidity equivalent to off-chain markets, but with faster settlement and longer trading hours.

• Targeted FX pricing: Leveraging an RFQ-based system and institutional-grade liquidity, the protocol maintains pricing and spreads that closely track traditional FX markets, outperforming alternative solutions.

• Direct integration with banks and stablecoin issuers: By enabling participation from regulated financial institutions and leading stablecoin issuers, Nonco’s system is engineered by institutions, for institutions.

• On-chain execution and settlement: All FX transactions settle atomically on-chain, simplifying multi-currency trades and eliminating counterparty credit risk.

VanEck Invests in Nonco

In a strong vote of confidence, Nonco has secured investment from VanEck, a global leader in asset management and digital asset innovation. VanEck has consistently championed stablecoins as a transformative force for global payments and cross-border transactions.

With prior backing from Valor Capital, Hack VC, Morgan Creek Digital, and others, Nonco’s FX On-Chain protocol is poised to redefine institutional FX liquidity and drive stablecoin adoption across both traditional and digital financial markets.

Avalanche As the Choice for Institutional Finance

Avalanche will be the default network for Nonco’s FX On-Chain protocol. Nonco, already a market leader in stablecoin trading volume, now joins the growing number of institutions using Avalanche to execute digital asset strategies. The network’s EVM compatibility, speed, low fees, scalability, and customizability continue to attract institutional builders, users, investors, and infrastructure partners—including a rising number of both USD and non-USD stablecoin issuers.

Nonco will launch its protocol with major currency pairs, then expand to other leading trading pairs and onboard additional liquidity providers.

About Nonco

Nonco is a leading digital asset trading firm, delivering principal-risk liquidity to institutional counterparties. The company operates two core businesses: Markets and Stables.

In its Markets segment, Nonco partners with ETFs, asset managers, brokers, trading firms, and aggregators to provide consistent, competitive pricing across all market conditions. As a trusted counterparty, Nonco offers deep liquidity and transparent execution.

Through its Stables business, Nonco supports fintechs and Web3 platforms that use stablecoins and local currencies for cross-border payments, remittances, and trade finance. By merging blockchain infrastructure with institutional-grade execution, Nonco is driving modernization in global money movement.

Combining highly personalized service with advanced technology, Nonco empowers institutional counterparties to confidently trade against its balance sheet. With support from seasoned industry veterans, Nonco has emerged as a leading liquidity provider in the digital asset space.

Nonco now serves a significant roster of institutional counterparties, including ETFs, liquid funds, premier crypto projects, and global payment companies. The firm is widely recognized as the preferred liquidity provider for institutions operating in digital asset markets.

About Avalanche Blockchain Network

Avalanche is a high-performance blockchain platform engineered for scalability. Its innovative three-part layer-1 architecture, anchored by the Avalanche consensus mechanism, delivers near-instant transaction finality. The platform’s open-source Layer 0 framework enables seamless deployment of interoperable layer-1 blockchains with high throughput across public and private networks.

Supported by a global community of developers and validators, Avalanche offers a fast, cost-effective environment for building next-generation decentralized applications. With its unmatched speed, flexibility, and scalability, Avalanche remains the blockchain of choice for innovators pushing the boundaries of the technology.

Conclusion

Nonco is advancing digital finance by combining institutional FX liquidity with Avalanche’s blockchain technology. Its FX On-Chain platform automates stablecoin conversions and delivers institutional-grade pricing, directly addressing critical gaps in the non-USD stablecoin market. Backed by top-tier investors like VanEck and a rapidly expanding institutional client base, Nonco is well positioned to transform cross-border payments and accelerate stablecoin adoption in both traditional and digital financial sectors. Selecting Avalanche as its default network further cements Nonco’s role as the go-to infrastructure for institutions seeking to modernize global money movement.

FAQ

What does Nonco do?

Nonco is a digital asset brokerage platform that delivers financial services to institutional clients. It enables transactions and crypto asset management for professionals in the Web3 industry.

How is Nonco used?

Nonco leverages tokenized treasuries on Stellar for fast, low-cost settlement, minimizing margin shortfall risk and supporting automated risk management.