VNX Year in Review: Building the Onchain Future of Non-USD Assets - VNX
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VNX Year in Review: Building the Onchain Future of Non-USD Assets

As the year comes to a close, it is time to reflect on a defining period of growth for VNX. Over the past twelve months, VNX has significantly expanded its blockchain footprint, launched a new fiat-referenced token, strengthened key partnerships, and continued to enhance its platform infrastructure — all with a clear mission: expand use cases for transparent, and capital-efficient non-USD assets onchain.

This year was not about a single milestone, but about building durable foundations across ecosystems.

Blockchains

One of the year’s core themes was multi-chain expansion. VNX tokens are now supported across a growing number of networks, enabling users and partners to access non-USD fiat-referenced tokens and tokenized gold wherever DeFi activity occurs.

We expanded the VNX ecosystem across key blockchains: deploying VNX stablecoins* on Celo to unlock mobile-first, payments-oriented use cases; launching VNX FRTs and VNX Gold on Base for stronger access to Ethereum-aligned DeFi liquidity; and rolling out VNX stablecoins on Concordium to bring digital assets into an identity-focused blockchain environment. In addition, VEUR and VCHF liquidity pools launched on Fraxtal and Arbitrum, expanding DeFi utility and non-USD liquidity options. 

VNXAU showed exponential growth on Solana and Base this year, highlighting the growing demand for the tokenized gold.

VCHF showed excellent performance, entering the Top 3 trending coins on Jupiter Exchange, and VGBP made a noise with its launch on Solana. All this made VNX one of the top-performing protocols by TVL growth on Solana.

As for Base, with the launch of VNX assets, they have been on fire in the FX space—supply and holders trending steadily upward, with VCHF and VGBP leading the trend.

Our multi-chain strategy ensures that VNX assets are not locked into a single ecosystem, but instead move fluidly across networks where users, liquidity, and applications exist, and this year, VNX non-USD assets have already surpassed half a billion in total transaction volume, steadily approaching the $1B mark—equivalent to every person in Europe completing one onchain transaction.

Products&Partnerships 

This year saw meaningful growth in the VNX product suite, both in terms of assets and announced partnership developments.

We introduced VGBP, a British Pound Sterling-referenced token, to expand our major European currency lineup; enabled seamless interoperability via the VCHF ↔ ZCHF bridge with the Frankencoin ecosystem, and announced KRW (Korean Won) implementation planning alongside SOOHO.io. This year also saw the launch of new pools, with VCHF/ICP becoming the largest pool on Kongswap, making the Franc even more accessible on ICP. At the same time, VNX asset pools on Aerodrome gave a significant boost to swaps on Base.

On the commodities front, our company continued VNX Gold (VNXAU) expansion across chains and DeFi use cases, rolling out VCHF lending and borrowing Morpho and an announcement to launch Gold lending and borrowing on Solana through Omnipair to make tokenized gold a productive onchain asset, and unveiling upcoming 1 oz gold-denominated digital tokens in partnership with Blockpal for flexible institutional and retail formats.

A significant milestone was the launch of X-Accounts for VNX Euro and VNX Swiss Franc on Wirex, expanding utility for millions of users who can spend them directly via Wirex cards following this year’s platform integration. Another compelling use case emerged with OISY wallet integration: convert crypto to Swiss Francs simply with OISY, and off-ramp to fiat via VNX in an intuitive process without bridges or complexities, ideally suited for cashing out crypto salaries into Francs. Important highlights also include several forged key partnerships with Zodia Markets and the G-20 Group, as well as a very special mention to our investor this year – Stellar. All this enabled Messari to name VNX as one of the key players shaping the future of non-USD stablecoins.

Platform, Compliance, and Infrastructure Enhancements

We enhanced the VNX platform with user-focused upgrades: a new tiered fee structure that rewarded active users with more competitive trading conditions; VNX API enhancements that unlocked new functions and deeper partner integrations; numerous UX/UI improvements prioritizing clarity, performance, and institutional usability; full automation of Travel Rule compliance for regulatory-grade transaction transparency and support for Destination Tag for XRPL blockchain.

Continued alignment with evolving global regulatory frameworks, reinforcing trust among partners and institutions.

These improvements ensure that VNX scales responsibly while remaining accessible to both DeFi users and regulated entities.

VNX Community Hub and the launch of VNX Token

This year, attention centered on the VNX Community Hub, a platform built by VNX enthusiasts to support, develop, and drive adoption of VNX fiat-referenced tokens. At the same time, the joint launch of the VNX token with BorgPad created a sensation, selling out in just a few seconds! Also, significant progress was made by conducting a comprehensive smart contract audit with Solana’s support.

Events & Industry Presence 

In 2025, VNX actively participated in key industry events to showcase our innovations in stablecoins and DeFi: attending Basecamp to connect with the Base ecosystem; joining All-In Summit in Los Angeles; featuring Alexander Tkachenko as a speaker at Meridian Stellar on “Redefining cross-border payments with non-USD stablecoins”; joining the CV Summit; exhibiting at Token2049 Singapore; participating in DAS London; engaging at Solana Breakpoint 2025; and presenting “VNX Platform: Filling the Gap Between Crypto and TradFi” at the FinTech & Innovation Forum – a joint event by ABBL and UBS Luxembourg.

Looking Ahead

This year marked a clear shift for VNX: from building core infrastructure to scaling across ecosystems. With new fiat currencies, commodity formats, lending markets, and blockchains already live or in progress, including preparations for token launches on Codex, BNB Smart Chain, and Canton. We laid the groundwork for new assets, including the Korean Won- and Japanese Yen-referenced tokens, as well as VNX Silver. We also aim to continue developing and expanding payment use cases for our assets, as well as FX trading, and to add a variety of investment products.

As we move into the coming year, the focus remains unchanged: expanding non-USD assets onchain, strengthening DeFi and institutional integrations, and building a resilient, multi-currency financial layer for the digital economy.

*The term “stablecoin” is used herein for marketing purposes and means fiat-referenced tokens (FRT) generated under the VNX Gold-Based Fiat Referenced Tokens (FRT) Terms and Conditions available for review at www.vnx.li 

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.

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