Cardano’s DJED Stablecoin Goes Open-Source and Privacy-First in Multi-Chain Expansion

Cardano’s overcollateralized stablecoin DJED, developed by Input Output Global (IOG) in collaboration with COTI, is entering a new phase of development—one that emphasizes both transparency and privacy. Initially launched in 2023, DJED has consistently maintained its peg and earned a reputation as one of the most robust algorithmic stablecoins in the market.

Announced at the Rare Evo blockchain conference, COTI revealed its decision to open-source critical parts of DJED’s infrastructure, including its order API, chain indexer, and frontend components. This move is aimed at enabling developers to build custom interfaces, integrate DJED into wallets and decentralized applications (dApps), and operate secure backend services. According to IOG, this transparency allows the Cardano developer community to inspect, extend, and innovate directly on the protocol, fostering trust and accelerating development.

Since its launch, DJED has been grounded in formal verification methods, backed by extensive testing, and running reliably on the Cardano mainnet for two and a half years. The open-source model further solidifies its position as a foundational Web3 asset.

A major part of this evolution is the introduction of Private DJED, billed as the first enterprise-ready private stablecoin. Designed for companies, institutions, and privacy-conscious users, this version will be available across multiple blockchains. Transactions—sending, receiving, and interacting with the asset—will remain confidential, supported by COTI’s Layer 1 privacy-focused infrastructure powered by garbled circuits, an encryption method known for secure and scalable computation.

The private version will also be programmable, allowing users to control how, when, and with whom they transact, ensuring selective disclosure of transaction amounts and addresses while remaining compliant with regulations. This flexibility could make DJED a key player in both DeFi and enterprise-grade financial systems.

Currently, DJED operates on the Cardano blockchain, but the multi-chain strategy aims to broaden adoption and integrate it into complex decentralized finance flows. The combination of open-source accessibility and privacy-enhancing capabilities positions DJED to serve as a blueprint for the next generation of stablecoins—bridging open and private finance under a single protocol.