VNX

What VNX does

VNX Global Ltd. is a regulated digital-asset infrastructure company that issues tokenised fiat currencies and precious metals on public blockchains. Founded in 2018 and headquartered in Bermuda, the company operates a dual-jurisdictional regulatory framework: a DABA Class M licence from the Bermuda Monetary Authority (secured March 2026) and a TVTG authorisation in Liechtenstein for VNX Commodities AG. Its primary products are VCHF (Swiss Franc stablecoin) and VGBP (British Pound stablecoin), each fully backed 1:1 by segregated fiat reserves and independently attested on a monthly basis, plus VNXAU, a tokenised gold product where each token maps to one gram of LBMA-certified bullion vaulted in Liechtenstein with serial-number transparency. Additional stablecoins (EUR, JPY, RUB) and precious-metal tokens (VNXAG silver, VNXPT platinum) are listed as forthcoming.

VNX's technical stack is built around native, non-custodial cross-chain issuance: VNX assets are deployed on 13+ blockchains (Ethereum, Solana, Stellar, Base, Polygon, Arbitrum, Avalanche, Tezos, Internet Computer, Celo, XRP Ledger, Fraxtal) using native token standards rather than wrapped IOUs. Cross-chain transfers operate through a VNX-operated burn-and-mint bridge with 2-of-3 multisig attestation, 12–30 second settlement, and zero bridge spread. The company offers an atomic FX product (VNX FX) using smart-contract escrow to settle non-USD currency pairs (e.g., CHF↔GBP, EUR↔CHF) simultaneously, eliminating Herstatt and T+2 settlement risk. Distribution spans a self-serve platform (my.vnx.io), an institutional Mint Account with virtual IBANs and 3–5 day KYB onboarding, an ECDSA256-authenticated REST API, a white-label issuance-as-a-service programme for fintechs and banks, and native deployment across 30+ DeFi venues including Morpho, Uniswap, Curve, Raydium, Orca, and Aerodrome. The veVNX governance protocol implements Curve-style vote-escrowed tokenomics for liquidity and emission control.

VNX monetises through five streams: per-transaction mint/redeem/transfer fees, exchange trading fees (Basic and Gold tiers), payment-rail processing fees, income on segregated reserve float at tier-one banks, and white-label licensing fees from partners embedding VNX rails under their own brand. The company serves three primary customer segments — corporate treasuries managing non-USD exposures, exchanges and brokers requiring deep CHF/GBP liquidity, and fintechs/neobanks/payment processors seeking compliant stablecoin rails without obtaining their own licences — plus secondary segments in family offices, high-net-worth individuals, and DeFi protocols. The company is privately held, employs 11–50 people, and has raised approximately $12.7M across two funding rounds (July 2022 and June 2025).

Name

VNX

Legal name

VNX Global Ltd.

Website

https://vnx.io

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

VNX Global Ltd. is a Bermuda-regulated digital-asset infrastructure company that issues fiat-backed stablecoins (VCHF, VGBP) and tokenised LBMA-certified gold (VNXAU) across 13+ blockchains, serving corporate treasuries, exchanges, fintechs, and DeFi protocols through Mint Accounts, APIs, and white-label rails.

Ownership category

akta.pro rank

Product category

Regulated Digital Asset Infrastructure / Stablecoin Issuance

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Stablecoin Issuers (Fiat-Backed) (FSADADAA)

akta.pro secondary industries

Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB)

Keywords

• Regulated stablecoin issuance
• Tokenized gold assets
• Cross-border payments
• Digital asset infrastructure
• Multichain tokenization

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Token Minting and Redemption Fees: VNX charges low, transparent network fees on mint, redemption, and transfer operations. API changelog notes modifications to fee structure as of October 2025. No bridge spread — same par mechanics as mint and redeem. Revenue derived from reserve float on client deposits held in segregated accounts.
2. Trading and Exchange Fees: Fees on exchange operations between VNX stablecoins and other digital assets (e.g., VNXAU/BTC). Fee tiers documented in API trading pairs endpoint (Basic tier and Gold tier fee schedules).
3. Payment Rail Services: Payment rails enabling FiatToStablecoin and StablecoinToFiat conversion automation for institutional clients. Revenue model based on processing fees for automated conversion workflows.
4. Reserve Float Income: Income generated from fiat reserves held in segregated client accounts at tier-one banks. Reserves back VCHF and VGBP 1:1 at all times; interest/returns on float contribute to operational revenue.
5. White-Label / Issuance-as-a-Service: White-label issuance program where VNX provides regulated infrastructure (licence, banking, reserves, multichain deployment, redemption) under a partner's brand. Partners pay for access to VNX's regulated framework and rails.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

VNX operates a regulated digital asset issuance platform that issues fully backed stablecoins — VNX Swiss Franc (VCHF) and VNX British Pound (VGBP) — plus a tokenized gold asset (VNXAU) backed by allocated LBMA-certified bullion vaulted in Liechtenstein. The platform provides institutional mint and redeem via SEPA/SWIFT rails, a native burn-and-mint cross-chain bridge, atomic onchain FX settlement between regulated EUR/CHF/GBP/USD stablecoins, programmable payment rails for cross-border payouts, and a white-label issuance program enabling fintechs and banks to launch their own branded tokens under VNX's regulated framework.

Product overview

VNX is a unified regulated digital-asset infrastructure platform offering tokenized fiat currencies and precious metals on blockchain. The core portfolio consists of VNX Stablecoins (VCHF and VGBP, 1:1 fiat-backed), VNX Gold (VNXAU, LBMA-certified allocated bullion), VNX FX (atomic onchain currency exchange), VNX Payments (cross-border payment services), VNX Mint Account (institutional mint/redeem), VNX Bridge (cross-chain transfers), VNX On/Off Ramp (fiat gateway), VNX DeFi Access (multi-chain DeFi integration across 13+ chains and 30+ protocols including Uniswap, Raydium, Morpho), VNX Community Hub (governance and staking with veVNX), and VNX White Label (issuance-as-a-service for partners). The platform is complemented by a REST API for programmatic access and is built on a regulated framework under Bermuda DABA and Liechtenstein TVTG.

Differentiator

Problem solved

Functional benefit

Brands

• VCHF (VNX Swiss Franc): Regulated stablecoin fully backed 1:1 by Swiss francs, issued on multiple blockchains.
• VGBP (VNX British Pound)
• VNXAU (VNX Gold)
• VNX Community Hub

Products and services

• VNX Swiss Franc (VCHF) Regulated stablecoin fully backed 1:1 by Swiss francs, redeemable onchain via SEPA/SWIFT and across multiple blockchains. For institutions, exchanges, fintechs and end users seeking CHF-denominated digital settlement without USD routing.
• VNX British Pound (VGBP) Regulated stablecoin fully backed 1:1 by pound sterling, programmable onchain for treasury and payments, deployed across the same multichain footprint as VCHF.
• VNX Gold (VNXAU) Regulated gold token fully backed by allocated LBMA-certified .9999 bullion vaulted in Liechtenstein. 1 token = 1 gram of investment-grade gold with serial-number transparency; redeemable for physical metal or fiat at par across 7+ chains.
• VNX FX Onchain foreign exchange service enabling atomic swaps between regulated EUR, CHF, GBP and USD stablecoins with institutional execution, settled atomically in seconds 24/7 without USD routing.
• VNX Payments Business payment services using stablecoins for cross-border payouts, payroll, and treasury operations, settled in minutes 24/7 with programmable conditional payments and batch payouts.
• VNX Mint Account Institutional account for minting and redeeming VNX stablecoins and gold tokens at scale via SEPA or SWIFT bank transfers with 0 bps spread, 24/7 settlement, and API access.
• VNX Bridge Native cross-chain bridge using burn-and-mint mechanism (no wrapped IOUs) to transfer VCHF, VGBP and VNXAU between 15+ networks at 0 bps spread with 12–30 second settlement.
• VNX On/Off Ramp Regulated fiat-to-stablecoin gateway enabling bank wire deposits in CHF or GBP to mint VNX stablecoins directly, or stablecoin redemption back to fiat bank accounts with same-day settlement.
• VNX White Label White-label issuance-as-a-service enabling fintechs, banks, payment processors and exchanges to launch their own branded stablecoins under VNX's regulated framework, reserves, and multichain deployment.
• VNX Community Hub (veVNX) Liquidity and governance protocol where VNX token holders lock VNX to receive veVNX, vote on weekly emissions across VCHF/VGBP/VNXAU pools, and boost LP rewards up to 2x.
• VNX REST API RESTful API for programmatic minting, burning, trading, exchange, FX quotes, payment rails, and account operations with ECDSA256 authentication, UAT and production environments.

Quantifiable outcome

• ~1 minute (avg 47s) settlement for stablecoin payments
• +4 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration24 records

Feature7 records

Partnerships

13 partnerships are on record, tiered core, minor and general.

• Morpho LabscoreTechnology or Integration · 22 April 2026VNX partnered with Morpho to launch institutional-grade lending markets for VCHF (VNX Swiss Franc) and VGBP (VNX British Pound) on Morpho (Base). This brings Swiss Franc and Pound liquidity to onchain credit for the first time. VCHF is live as both a borrow asset and as collateral on Morpho's permissionless lending protocol. VNX tokens are integrated across Morpho's liquidity markets.
• BlocPal International Inc.minorStrategic or Co-development Partner · 26 November 2025BlocPal International Inc. and VNX Commodities AG announced a strategic partnership to launch BPG1, a gold-backed digital token. Each BPG1 token is backed by one troy ounce of 99.5% fine gold sourced from LBMA-certified bars held in segregated, insured vaults in Liechtenstein. The token launched in December 2025 under Liechtenstein's TVTG framework, with initial issuance on Ethereum and planned expansion to Solana. BlocPal's B2B2C infrastructure enables distribution through regulated exchanges, OTC partners, retailers, crypto ATMs, and mini-ATM network, targeting both institutional and retail investors.
• MorphocoreTechnology or IntegrationMorpho hosts VCHF as a live borrow asset and collateral on Base. First non-USD fiat lending markets onchain at scale. VGBP also live as collateral on Morpho.
• UniswapgeneralTechnology or IntegrationVNX tokens (VCHF, VGBP, VNXAU) are routed and traded via Uniswap on EVM chains. Uniswap serves as the primary DEX router for VNX assets on Ethereum and other EVM networks.
• Curve FinancegeneralTechnology or IntegrationVNX tokens are deployed on Curve Finance (EVM) for stablecoin liquidity pools. Part of VNX's DeFi access ecosystem spanning 30+ protocols.
• RaydiumgeneralTechnology or IntegrationVNX tokens trade on Raydium (Solana's flagship CLMM). Raydium hosts the bulk of VNXAU and VCHF Solana volume — the de-facto reference price for both tokens onchain. VNXAU/VCHF, VNXAU/USDC, VCHF/USDC pairs live.
• OrcageneralTechnology or IntegrationOrca (Solana Whirlpools) hosts the deepest VNXAU/VCHF book onchain — the only place a synthetic gold/CHF FX cross trades natively. VNXAU/VCHF, VNXAU/USDC, VCHF/USDC pairs live.
• AerodromegeneralTechnology or IntegrationAerodrome (Base's largest DEX) hosts VGBP/USDC concentrated liquidity pools via SlipStream. Part of VNX's non-USD stablecoin deployment on Base.
• MeteorageneralTechnology or IntegrationMeteora (Solana DLMM) offers tight-spread VCHF and VNXAU pools optimized for stable/metal-stable pairs with active rebalancing.
• BalancergeneralTechnology or IntegrationVNX tokens are deployed on Balancer (EVM) as part of the DeFi access ecosystem. Balancer V2 supports VNX stablecoin pools.
• ICPSwapgeneralTechnology or IntegrationICPSwap (Internet Computer) serves as the canonical VCHF/ICP and VCHF/ckUSDC trading venue on the Internet Computer blockchain.
• JupitergeneralTechnology or IntegrationJupiter (Solana router) routes VNX tokens wherever standard aggregators reach, enabling FX basis and arbitrage opportunities for VNX assets.
• Kamino FinancegeneralTechnology or IntegrationVNX tokens integrated with Kamino Finance on Solana for yield optimization strategies.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Circle: Issuer of USDC, the second-largest fiat-backed stablecoin and the most regulator-friendly USD stablecoin. Circle's multichain USDC deployment, reserve management approach, and institutional banking relationships serve as a direct functional analogue to VNX's regulated stablecoin issuance model.
• Paxos: Regulated US-based issuer of PAXG (tokenized gold), USDP, and PYUSD (PayPal's stablecoin). Paxos's gold token PAXG is the most direct competitor to VNXAU in the tokenized physical gold space, with a longer track record and broader exchange listings.
• Tether: Issuer of USDT, the dominant fiat-backed stablecoin by circulation. While Tether operates primarily in USD, its scale and liquidity depth across exchanges and DeFi make it the incumbent benchmark against which VNX's non-USD positioning is differentiated.

Regional players

• Mt Pelerin: Swiss FINMA-regulated fintech issuing a Swiss franc-pegged stablecoin (FCOIN) for retail and institutional use. Comparable niche positioning to VNX with CHF-denominated tokenized money under Swiss banking regulation.

Others

• Bridge (Stripe): Stablecoin orchestration and issuance-as-a-service platform acquired by Stripe in 2024/2025. Comparable to VNX's white-label issuance offering as a B2B infrastructure layer enabling fintechs and banks to launch branded stablecoins without becoming regulated issuers themselves.

Direct peers

• StraitsX: Singapore-based MAS-regulated issuer of XSGD and XUSD stablecoins. Comparable to VNX as a regulated, non-USD fiat stablecoin issuer with multichain deployment and an institutional partner-led distribution model across Asia-Pacific.
• Monerium: Icelandic e-money institution issuing tokenized EUR, USD, GBP, and ISK on blockchain under EU EMI and MiCA frameworks. Closely comparable to VNX in regulated fiat-backed stablecoin issuance across multiple non-USD currencies with banking-grade compliance.
• Société Générale-Forge: Subsidiary of Société Générale issuing EURCV, a regulated euro-denominated stablecoin on Ethereum under EU MiCA. Most directly comparable to VNX as a bank-grade European regulated stablecoin issuer targeting institutional settlement and FX use cases.

Emerging players

• Tangible: Issuer of TNGBL, a tokenized gold product backed by physical gold stored in vaults. Comparable to VNXAU as a tokenized precious-metal RWA with physical backing and onchain usability.
• AllUnity (formerly Matrixport): German MiCA-licensed EUR stablecoin initiative backed by Matrixport. Emerging regulated euro stablecoin issuer targeting European institutional markets — direct competitor to VNX's planned EUR stablecoin expansion.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VNX_Platform

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VNX