VNX, a Liechtenstein-based company registered by the Liechtenstein Financial Market Authority (FMA) under the Blockchain Act, has added VNX Euro (VEUR), VNX Swiss Franc (VCHF), and VNX Gold (VNXAU) to the Polygon blockchain, providing users with faster transaction times, lower fees, and improved interoperability with other DeFi protocols. VNX stablecoins cater to different needs in the digital economy, enabling users to effectively manage their investment portfolios, make cross-border transactions, hedge against volatility or integrate stable assets into dApps and digital businesses.
Polygon users can now enjoy a diversified portfolio of VNX tokens referencing traditional currencies, including VNX Euro (VEUR) and VNX Swiss Franc (VCHF), as well as VNX Gold (VNXAU), which represents ownership of physical gold securely stored in a vault in Liechtenstein.
“We are excited to bring the VNX Euro, VNX Swiss Franc and VNX Gold to the Polygon network,” said Alexander Tkachenko, CEO and Founder of VNX. “This will provide VNX users with faster and more cost-efficient transactions, as well as use cases for Polygon users with stable assets in DeFi”.
With the addition of VNX Gold, VNX Euro and VNX Swiss Franc, Polygon network, a home to tens of thousands of dApps and some of the biggest Web3 projects, such as Aave, Uniswap, QiDao, and OpenSea, can benefit from integration of VNX tokens to their products. VNX tokens on Polygon are already accessible for buying, selling, and liquidity providing on well-known decentralized platforms such as Uniswap, KyberSwap, and Balancer and on centralized exchanges – Emirex and BitForex. Moreover, Korean users can utilize the benefits of VNX tokens through the Burrito Wallet enabling them to trade and also providing them access to the Web3.0 world of opportunities. They are also available for purchase and sale for Euro, Swiss Francs and crypto on the VNX platform serving private and institutional clients. Moreover, the availability of VNX tokens will soon extend to other platforms and dApps.
“We are thrilled about the deployment of VNX and new tokens: VNX Euro, VNX Swiss Franc and VNX Gold to the Polygon network,” said Hamzah Khan, Head of DeFi at Polygon Labs. “This integration will make it easier for users to transact with these tokens, and we look forward to seeing more use cases coming from the combination of Polygon ecosystem players with VNX.”
Being multichain VNX tokens enable users to access stable assets on various blockchains, allowing users to choose the blockchain that best suits their needs and preferences and easily swap them between different blockchains.
By transforming stable traditional assets into digital form and reducing transaction costs,VNX tokens unlock a world of exciting possibilities and can be used for settlement and payments, paving the way for new user scenarios and creating unique opportunities to engage with customers of digital businesses across a multitude of industries. Whether it’s in gaming, payment systems, or wallets, the integration of stable assets introduces a whole new level of convenience and flexibility. This has the potential to revolutionize the way we interact and transact in the digital realm.
About VNX:
VNX (www.vnx.li, www.vnx.lu) is a European company bringing traditional assets to the crypto world.
In 2019 VNX launched the end-to-end platform for tokenization of traditional assets that facilitates the whole life cycle for digital assets from planning to post tokenization support. In 2022 VNX (a token generator licensed by FMA under the Blockchain Act) presented the first European gold-backed token (VNX Gold or VNXAU) that represents individual ownership of physical gold. VNX Gold provides the same benefits as investing in physical gold, such as store of value, protection against volatility and inflation, and high liquidity – with complete digital convenience and freedom.
At the end of 2022 VNX also presented fiat referenced tokens (stablecoins), VNX Euro (VEUR) and VNX Swiss Franc (VCHF), expanding investor capabilities in the crypto space by offering digital assets tied to traditional currencies.
About Polygon Labs: Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups), sidechains, app-specific chains and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 261 million, over 1.4 million smart contracts created and 2.7 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, QiDao and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
