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VNX’s 2024: Year of Expansion
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As 2024 draws to a close, it’s time to reflect on a transformative year for VNX. It was a year of expansion—filled with groundbreaking blockchain launches, stablecoin integrations, innovative partnerships, and global recognition. Let’s look back at the highlights that defined this year of growth and set the stage for an even brighter future.
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2024 marked a year of significant achievements for VNX, with remarkable growth across our products. The total market capitalization surged from $3.4M to $15.2M, driven by the growing adoption of our innovative stablecoins.
VNX Swiss Franc (VCHF) demonstrated robust growth, increasing from $7M to $10.5M, while VNX Euro (VEUR) experienced an impressive rise from $1.2M to $3.7M, earning its position among the Top-5 euro asset-backed stablecoins globally. With adoption and implementation of the MiCA Regulation, new opportunities emerge for European stablecoins, including VEUR and VCHF, to fill the gap and further grow in market capitalization.
Blockchain Launches
In 2024, VNX broadened its blockchain presence by integrating with Stellar, Tezos and Arbitrum. Today VNX tokens are available on 10 blockchains. The launch of VEUR and VCHF on these blockchains marked a pivotal moment in our journey, empowering DeFi ecosystems with VEUR and VCHF. This initiative continues to pave the way for seamless cross-border transactions and robust liquidity across chains.
Also, significant progress was made in technological development. These expansions laid the groundwork for a decentralized future powered by innovation in stablecoins and platform capabilities.
Expanding use cases with offramp/onramp platform developments
This year VNX introduced an API for minting and burning stablecoins, unlocking new integration possibilities and paving the way for exciting collaborations. On VNX platform, we enhanced payment capabilities by integrating options like card payments and Volt, enabling seamless fiat-to-crypto transactions. These developments ensure a smoother, more versatile user experience and position VNX as a leader in bridging traditional and digital finance.
Wirex
The integration with Wirex has expanded VNX tokens’ accessibility, enabling seamless daily transactions and payments for goods using VNX stablecoins with Wirex card. Wirex cards allow users receive payments in VEUR and/or VCHF (the first Swiss-Franc referencing token on Wirex!), use them for remittances (including cross-border transactions), or sell crypto for stablecoins instead of fiat. Wirex provides the simplest solution for payments in real life. Users can instantly convert their stablecoins into fiat currency and send it directly to their bank accounts, taking care of those who prefer traditional banking.
Bringing access to e-commerce with Helio
Сollaboration between VNX and Helio, brings the ease, speed, and low cost of stablecoin payments to e-commerce and revolutionizes merchant payments. Helio empowers thousands of merchants and dApps, by providing a secure and convenient way to accept decentralized crypto payments across multiple chains on online platforms including Shopify and WooCommerce. Users of these platforms can now make and receive payments in VEUR and VCHF via Solana Pay and Helio Pay.
VCHF gains recognition with Sygnum and Swissborg
VCHF became available for deposit, withdrawal, and custody at Sygnum, a global digital asset banking group, founded on Swiss and Singapore heritage. Another giant, Swissborg, not only added VEUR and VCHF, but also introduced the VNX Points Farming Strategy within Swissborg Earn. The Swiss Franc-referencing token has immediately captured the attention of users across Europe with 25,9K exchange transactions and $18M in transaction volume.
This year, VNX proudly marked its attendance at some of the most prestigious global crypto events, highlighting its dedication to innovation and leadership in the blockchain and fintech ecosystem. From London to Singapore, our team engaged with industry leaders, shared key insights, and showcased groundbreaking solutions shaping the future of finance.
At Consensus 2024, VNX CEO, Alexander Tkachenko, connected with prominent figures in blockchain and stablecoins, discussing the evolving financial landscape. The year also saw Alexander speaking at Nexus2050Lux, as well as the Chainlink Event in London, where stablecoins, DeFi, and tokenization took center stage. VNX’s participation in Solana Hacker House London provided a platform for exchanging ideas on the impact of MiCA Regulation and fostering innovative projects on Solana.
Notably, VNX had the honor of attending TOKEN2049 in Dubai, the Digital Asset Summit in London, and Stellar’s Meridian 2024, contributing to vital discussions on interoperability, crypto regulation, and asset tokenization. Each event reinforced VNX’s commitment to bridging traditional finance with blockchain, building partnerships across Europe, and driving meaningful transformation in the industry.
Looking Ahead
This year demonstrated the power of strategic innovation, collaboration, and commitment to expanding financial inclusion. With VNX stablecoins gaining traction and new blockchains added to VNX ecosystem, VNX is poised to continue this momentum into 2025 and beyond.
“At VNX, we’re ready to strengthen our position, expand our operations, and solidify our presence with significant partnerships. It’s an exciting time, and I’m confident we’re well on our way to shaping a solid and resilient future together,” said Alexander Tkachenko, CEO of VNX
To all our partners, users, and supporters—thank you for being part of this journey!
