VNX

VNX is a Liechtenstein-based financial technology company that issues regulated blockchain-based tokens representing real-world assets, primarily precious metals and European fiat currencies. Founded in 2018 by Alexander Tkachenko and incorporated as VNX Commodities AG, the platform is registered with Liechtenstein's Financial Market Authority (FMA) as a TT Services Provider under the Principality's Blockchain Act, holding six licenses from the regulator. VNX addresses the gap for European investors and DeFi participants who want to hold, transact, and earn yield in euros, Swiss francs, British pounds, or gold without routing through a dollar-denominated intermediary. VNX issues four primary tokens. VNXAU (VNX Gold): Each VNXAU token represents exactly one gram of physical gold certified to LBMA standards, stored in segregated high-security vaults in Liechtenstein and insured against theft and embezzlement. The physical gold sits outside VNX Commodities AG's balance sheet: in the event of company insolvency, the gold is not part of the bankruptcy estate. VEUR (VNX Euro): A fiat-referenced token tracking the euro, backed by VNXAU reserves and fiat currency holdings. New VEUR tokens are minted exclusively on the VNX platform by KYC-verified customers depositing equivalent asset value. Exchange services for VEUR by VNX Commodities AG were discontinued in May 2026 as part of a strategic restructuring; the token remains tradeable on third-party DEXs. VCHF (VNX Swiss Franc): The first regulated digital Swiss franc stablecoin, backed by VNXAU gold reserves and Swiss franc fiat holdings. VCHF launched on Bitstamp and has since expanded to multiple DeFi platforms. VGBP (VNX British Pound): A British pound fiat-referenced token using the same two-tier collateral structure of gold reserves and fiat deposits. All four tokens require KYC/AML-verified registration for issuance and redemption; secondary-market trading is open to anyone. Holders of VNXAU can redeem physical bullion in minimum 1 kg bars from the Liechtenstein vault or arrange worldwide delivery. VNX publishes regular third-party reserve verification reports: Areva General Auditing and Trust Company Limited verified reserves as of December 2023 and December 2024, confirming physical gold backing VNXAU and fiat reserves backing VEUR, VCHF, and VGBP were adequate. Smart contract code has also undergone third-party security reviews. Liechtenstein's FMA conducts ongoing regulatory oversight covering KYC/AML compliance and reserve adequacy. VNX launched VNXAU, VEUR, and VCHF on Solana in late 2023. On Solana, these tokens trade on Orca, Raydium, and Kamino, enabling tight spreads and near-instant settlement. The VNXAU token address on Solana is 9TPL8droGJ7jThsq4momaoz6uhTcvX2SeMqipoPmNa8R. Solana is among the eight chains VNX designated for continued active technical support following a May 2026 network consolidation; others include Ethereum, Stellar, Internet Computer (ICP), Base, Celo, Etherlink/Tezos, and Q. The VNX exchange platform at vnx.li suspended all trading operations as of June 30, 2026 citing operational cost consolidation. VEUR exchange services were fully discontinued in May 2026. Tokens under active blockchain support including VCHF, VGBP, and VNXAU continue trading on third-party decentralized exchanges. VNX Global Ltd. obtained a license under Bermuda's Digital Asset Business Act 2018. Transaction activity as of May 2025: VCHF recorded 112.3 million VCHF in total transaction volume across 1.3 million transactions held by 957 unique addresses. VEUR saw 103.6 million VEUR across 1.2 million transactions held by 695 unique addresses. VNXAU recorded 367,185 total transactions held by 1,343 unique addresses. Alexander Tkachenko founded VNX after running 2be.lu, a Luxembourg-based early-stage venture fund that invested in 25 companies across sharing economy, AI, and blockchain verticals. He holds MBAs from London Business School and Columbia University. The broader leadership includes Eugene Gavrilov (CTO, formerly at Troika Dialog and Deutsche Bank), Michael Epishkin (Head of Product and DeFi), Dr. Siegfried Herzog (Board Member and Compliance Officer), Dr. Thomas Feldkircher (Board Member, PhD attorney), and Dominique Valschaerts (Board Member, former CEO of Brussels Stock Exchange). Michael Jackson, former Skype COO and Mangrove Capital partner, serves as adviser. Backers include the Stellar Development Foundation, Woori Capital, and Hansae Eyes Foundation. More than 30 ecosystem partners have integrated VNX tokens including LBank, XT.com, Uniswap, and Curve. Within the Solana ecosystem, VNX occupies a distinct niche: non-USD regulated stablecoins and tokenized gold with a clear regulatory and custody framework. The FMA licensing, LBMA-certified gold, segregated custody, and regular reserve audits distinguish VNX from non-regulated or synthetic alternatives. For European DeFi users, VEUR and VCHF provide on-chain access to familiar currencies with defined redemption rights. VNXAU offers a gold exposure vehicle deployable on Orca, Raydium, and Kamino with the backing transparency of a regulated European issuer.