Liechtenstein-based company VNX has expanded its offerings by adding VEUR, VCHF, and VNXAU tokens to the Polygon blockchain. This move aims to enhance transaction speed, reduce fees, and improve interoperability with other DeFi protocols.
VNX’s stablecoins serve various purposes within the digital economy, facilitating effective portfolio management, cross-border transactions, volatility hedging, and integration into decentralized applications (dApps) and digital businesses.
Polygon users can now access a diverse range of VNX tokens tied to traditional currencies: VEUR and VCHF, as well as VNXAU, which represents ownership of physically stored gold in a Liechtenstein vault.
Alexander Tkachenko, VNX’s CEO, mentioned the benefits of faster and more cost-efficient transactions for VNX users and expanded use cases for Polygon users within DeFi.
By introducing VNX Gold, VNX Euro, and VNX Swiss Franc to Polygon, the network, home to major projects like Aave and Uniswap, stands to gain from the incorporation of VNX tokens into its ecosystem.
VNX tokens are already available for trading and liquidity provision on decentralized platforms such as Uniswap and centralized exchanges like Emirex and BitForex. Additionally, VNX tokens can be accessed through the Burrito Wallet, particularly by Korean users, expanding their exposure to the opportunities of the Web3.0 world.
The tokens can be purchased and sold for Euros, Swiss Francs, and cryptocurrencies on the VNX platform for both institutional and private clients. Plans are in place to expand their availability to other platforms and dApps.
Polygon Labs’ Head of DeFi, Hamzah Khan, welcomed the deployment of VNX tokens, emphasizing the ease of transacting with these tokens and the potential for new use cases within the Polygon ecosystem.
VNX tokens are multichain, allowing users to access stable assets across various blockchains and enabling easy swapping between them. This flexibility unlocks opportunities for settlement, payments, and novel user scenarios in various industries, potentially revolutionizing digital transactions and interactions.