We are happy to announce the launch of three of its leading non-USD stablecoins* - VNX Euro (VEUR), VNX Swiss Franc (VCHF), and VNX British Pound (VGBP) on the Celo blockchain. This integration brings VNX’s suite of multi-currency stablecoins to the “Home of Stablecoins, expanding Celo’s mobile-forward blockchain ecosystem built for the real world and optimized for everyday stablecoin use cases and on-chain FX trading.
Celo is a 5-year battle-tested chain – now an Ethereum Layer 2 blockchain with frontier technology, uniquely focused on scaling real-world solutions and financial tools for global markets. The Celo ecosystem’s core mission – bringing real-world use cases to blockchain technology – aligns strongly with VNX’s goal to provide reliable, stablecoins for payments, savings, and on-chain FX trading.
Celo is built different, so developers can build different, with advantages including:
Mobile-forward architecture that makes Web3 globally accessible
A rich ecosystem of blue-chip DeFi and ReFi projects, wallets, and applications
Fee Abstraction: Users can pay transaction fees with ERC-20 tokens, including stablecoins like USDT and USDC, making payments simple and flexible.
Sub-Cent Fees: Celo maintains low gas fees, less than a cent, keeping transactions affordable.
Fast Transactions: Celo achieves 1-second block finality, enabling near-instant transaction confirmations.
Scalability: Celo’s focus on real-world use cases has already helped scale applications to over 250,000 daily active users (DAUs), proving its capability to support large-scale deployment.
By launching on Celo, VNX aims to contribute to a more inclusive financial system, while opening up new utility and liquidity opportunities for its tokens.
“Launching VEUR, VCHF, and VGBP on Celo is a natural next step for us. Celo’s strong focus on mobile usability and real-world adoption aligns perfectly with our vision of making stablecoins relevant and useful beyond the crypto-native audience. We’re excited to bring our stablecoins into this ecosystem and unlock new use cases across payments, FX, and financial inclusion.” – Alexander Tkachenko, CEO of VNX
“Celo was designed to enable accessible financial tools for anyone, anywhere. As the ‘Home of Stablecoins’, we’re excited to welcome VNX’s non-USD stablecoins to the Celo ecosystem, as they bring meaningful diversity and utility, especially for users who want local currency exposure in DeFi. This integration supports our shared mission of building a more inclusive and sustainable global financial system.” – Kevin Tharayil, Celo Foundation Head of Special Projects and Stabila Foundation contributor
Incentivized Liquidity Pools Live
To kickstart liquidity and FX trading on Celo, VNX has launched three new incentivized pools on Uniswap:
These pools are designed to support decentralized FX trading and cross-border payments, while offering users incentives to provide liquidity and participate in the growing non-USD stablecoin economy.
About VNX Stablecoins
VNX Euro (VEUR), VNX Swiss Franc (VCHF), and VNX British Pound (VGBP) are fiat-referenced tokens issued 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 are already live across multiple blockchains, including Ethereum, Solana, Polygon, Avalanche, Tezos, Stellar, and now Celo.
About Celo
Celo is an Ethereum Layer-2 and mobile-first blockchain network built for the real world and designed for fast, low-cost payments worldwide. The Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo Platform), the CELO native token, USDC, and USDT (both enabled as gas currencies), several Mento stable assets (cUSD, cEUR, cREAL, eXOF), and popular, blue-chip infrastructure including Velodrome, Uniswap, Curve, Chainlink, Aave, and Rarible, among others. Launched on Earth Day in 2020, the open-source Celo mainnet supports a rich ecosystem of projects (1,000+) contributing to Celo’s global mission of prosperity for all. For more about Celo, visit https://celo.org.
* The term “stablecoin” is used herein for marketing purposes. VEUR, VCHF and VGBP are fiat referenced tokens which details are set out in the VNX GOLD BASED FIAT REFERENCED TOKENS TERMS AND CONDITIONS which are available for review at www.vnx.li
