VNX, a licensed generator of fiat-referenced tokens (VEUR, VCHF, VGBP) and tokenized gold (VNXAU, VNX Gold), and SOOHO.IO, Korea's leading blockchain fintech company, pioneering the convergence of traditional finance and digital assets, have officially signed a Memorandum of Understanding (MOU) to set common strategic goals.
Since launching non-USD fiat-referenced tokens (FRTs)* on Base, VNX assets have seen strong and sustained growth in transaction volumes and user demand. VNX Gold, one of the leading assets on Solana, experienced five consecutive weeks of increasing activity, followed by a brief pause, and then saw volumes double again in the last week. Building on this momentum, VNX and SOOHO.IO have partnered to replicate this success and accelerate further growth, leading to the signing of the MOU to strengthen collaboration and expand the use of fiat-referenced tokens together.
The MOU outlines key areas of cooperation between VNX and SOOHO.IO with detailed focus on:
Deploying Korean Won (KRW) Fiat-Referenced Tokens
The two companies are planning to jointly explore the opportunities of the deployment of Korean Won FRTs for regulated payment and settlement purposes within Korea. This project is designed to build better support for stablecoins in Korea and give users a reliable way to use digital money tied to their local currency.
Working Together on the Namsan Consortium
VNX and SOOHO.IO are teaming up to bring VNX’s assets into new payment trials in Korea. They will work with platforms like Aurora Pay to ensure that everything runs smoothly.
SOOHO.IO will manage the necessary processes and take all steps needed to support Korean users in accessing and using VNX assets in a reliable, transparent and compliant way, including enabling easy international payments and facilitating the use of non-usd FRTs while travelling in Europe.
Through this partnership, VNX and SOOHO demonstrate their commitment to innovation, dedication to compliance, and improving the overall user experience in the VNX ecosystem globally.
About SOOHO
SOOHO.IO Inc., is Korea’s leading blockchain fintech company, pioneering the convergence of traditional finance and digital assets since 2019. Founded by CEO Jisu Park, the company is the first and only Korean firm backed by ConsenSys Ventures and has been recognized by Gartner as a key blockchain finance company in 2022.
SOOHO.IO delivers an Enterprise Blockchain Suite including ** Reagent ** (automated smart contract auditing for smart-contract lifecycle management), **Purplace** (Purpose Bound Money platform), and flagship applications demonstrating real-world blockchain payments. SOOHO.IO has successfully deployed a Central Bank CBDC project, protects over $2.4 billion in assets, and partners with financial institutions for blockchain fintech innovation.
About VNX fiat-referenced tokens
VNX Euro (VEUR), VNX Swiss Franc (VCHF), and VNX British Pound (VGBP) are fiat-referenced tokens created under a regulatory framework by a Liechtenstein-based company registered with the FMA. They are fully backed by reserves and offer transparency through regular audits published on the VNX website.Designed to support cross-border payments, savings, and on-chain FX trading, VNX stablecoins already live across multiple blockchains, including Ethereum, Solana, Polygon, Avalanche, Tezos, Stellar, Celo and now Base.
*FRTs are Fiat-Referenced Tokens (FRT) based on the VNX Gold Commodity Token (VNX Gold) as stated in T&C.
This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication.
