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VNX Review 2026: Bermuda-Licensed CHF, GBP and Gold Tokens

VNX issues fully backed Swiss franc and British pound stablecoins and a tokenized gold product under a Bermuda Monetary Authority licence. It suits users who want non-USD or physical-metal exposure onchain, with fee details left to the platform.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

7.4/10

Good

Visit VNX

Our verdict on VNX

7.4/10

VNX suits users and businesses who want regulated onchain exposure to the Swiss franc, the pound or physical gold, and who are comfortable relying on a single licensed issuer. Its strengths are a stated Bermuda licence, full-backing claims, bank-rail minting and wide DeFi integrations. The main caveats are unpublished fees, inconsistent chain counts on the homepage, and a product range still limited to three live tokens. Check redemption terms and reserve disclosures first.

Score breakdown

How VNX scores

Security: 7.5/10
Ease of use: 7.0/10
Fees: n/a
Features: 7.5/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is VNX?

VNX is run by VNX Global Ltd., a Bermuda exempted company that holds a Class M digital assets business licence from the Bermuda Monetary Authority. It issues regulated non-USD stablecoins and precious-metal tokens, and it positions itself as a link between traditional finance and onchain markets.

The live lineup is VNX Swiss Franc (VCHF), VNX British Pound (VGBP) and VNX Gold (VNXAU). Silver (VNXAG), platinum (VNXPT) and further currencies are shown as coming soon. Around the tokens sit minting and redemption by SEPA or SWIFT, a bridge, an on/off-ramp, an API and a white-label offer.

The homepage also lists more than 30 DeFi partners, including Morpho, Uniswap, Jupiter, Kamino, Balancer, Meteora, Curve, Aerodrome and Orca. It cites 1B+ in transaction volume. The page gives different chain counts in different sections, and no token price or TVL figure is published there.

How VNX works

VNX issues tokens that are each backed one-to-one by an off-chain asset. VCHF and VGBP are backed by fiat currency, and VNXAU by allocated physical gold. A user who passes the platform's onboarding sends money by bank transfer, and VNX mints the matching token. Redeeming reverses the process and pays out to a bank account.

Once minted, the tokens live on public blockchains and behave like any other token. They can be sent between wallets, moved across networks with the bridge, or put into DeFi protocols. In a liquidity pool, for example, VCHF might be paired with a USD stablecoin so others can swap between the two currencies.

The value of each token depends on the reserves VNX holds and on its ability to honour redemptions. The homepage says reserves are transparent, audited and held under a regulated framework, and it links a transparency page. Newcomers should treat this as issuer risk on top of ordinary smart-contract risk.

7 features

Key features

CHF and GBP stablecoins

VCHF and VGBP are fiat-backed tokens that give onchain exposure to the Swiss franc and the British pound. VNX says each is fully backed and independently audited.

Tokenized gold

VNXAU represents LBMA-certified physical gold that is fully allocated and redeemable. Silver and platinum tokens are announced as coming soon.

Mint and redeem

Users can issue and redeem VCHF, VGBP and VNXAU from an account or through an API. Bank funding runs over SEPA or SWIFT.

Cross-chain bridge

A bridge moves VNX assets between supported networks, which the homepage puts at 15+. Named chains include Ethereum, Polygon, Solana, Base, Arbitrum and Avalanche.

Atomic FX

VNX describes onchain FX across multiple currencies, settled in seconds at any hour. It markets this to institutions, with tight spreads cited but no numbers.

DeFi integrations

The homepage names more than 30 DeFi partners, including Morpho, Uniswap, Curve, Kamino and Aerodrome. Users can lend, borrow or provide liquidity with VNX assets.

API and white label

VNX offers an API, a white-label option and an on/off-ramp for businesses. These target payments and FX use cases rather than individual traders alone.

Pros and cons

What we like

Operates under a stated Bermuda Monetary Authority Class M digital assets business licence.
Tokens are described as fully backed, with the gold token tied to LBMA-certified, allocated, redeemable bullion.
Offers non-USD stablecoins (CHF and GBP), which are less common than USD-pegged options.
Mint and redeem via SEPA or SWIFT, with an API for businesses.
Listed across several major chains and with more than 30 DeFi partners for lending, swapping and liquidity.
Two audits are listed for the project and it links a transparency page.

Watch out for

The homepage gives inconsistent chain counts (8, 6, 7 and 15+ in different places), so users should confirm which networks support each token before moving funds.
Fees, spreads and redemption costs are described as low or tight but no figures are published on the homepage.
Only two fiat-backed stablecoins (CHF and GBP) and one live metal token (gold) are available; silver, platinum and other currencies are listed as coming soon.
Minting and redeeming goes through a company account and bank rails, so it depends on VNX Global Ltd. as the issuer and counterparty.
Reserve custodians, auditors and the exact redemption terms are not named on the homepage.
Most DeFi pools for these tokens are likely smaller than USD stablecoin markets, which can mean thinner liquidity and wider spreads.

VNX fees

VNX does not publish a fee schedule on its homepage. It describes payments as cost-efficient, FX as having tight spreads and the bridge as low-fee, but gives no percentages or fixed amounts.

Costs will likely include bank transfer charges for SEPA or SWIFT, any mint or redeem fees set by VNX, network gas on the chain you use, and trading spreads in DeFi pools. Check the platform's account area and the transparency and FAQ pages for current rates before moving money.

Is VNX safe?

VNX Global Ltd. states that it is licensed under a Class M digital assets business licence from the Bermuda Monetary Authority. The homepage says the tokens are fully backed, independently audited and issued under regulated frameworks. The project is listed with two audits, but the homepage does not name the auditors, the reserve custodians or the bank partners.

Risks remain. Holders depend on VNX to honour redemptions and to keep reserves intact. Bridging tokens and using DeFi protocols add smart-contract and liquidity risk. Fiat-backed tokens can trade slightly off their reference value when markets are thin. Read the transparency page and terms before committing significant funds, and check that the service is available in your jurisdiction.

6 steps

How to get started with VNX

1
Decide which token you need: VCHF for Swiss francs, VGBP for pounds or VNXAU for gold.
2
Open a mint account with VNX and complete whatever verification the platform asks for.
3
Fund the account by SEPA or SWIFT bank transfer and mint the token, or buy it on a supported DeFi venue.
4
Pick a supported chain and send the tokens to a compatible wallet, using the VNX bridge if you need to switch networks.
5
Optionally deploy the tokens with a DeFi partner such as a lending market or liquidity pool, after reading that protocol's risks.
6
To exit, redeem to your bank account through the platform or sell in a DeFi market, and check fees and processing time first.

Open VNX

Who VNX is for

VNX fits holders and businesses that want non-USD stablecoins for payments, FX or treasury, and investors who want tokenized physical gold they can use in DeFi. It is less suited to anyone who wants a single self-contained token with no issuer dependence.

VNX FAQs

What is VNX?

VNX is a Bermuda-based company, VNX Global Ltd., that issues regulated non-USD stablecoins and tokenized precious metals. Its live products are VNX Swiss Franc (VCHF), VNX British Pound (VGBP) and VNX Gold (VNXAU). It also offers a bridge, minting and redemption, and on/off-ramp services.

Is VNX regulated?

VNX Global Ltd. says it holds a Class M digital assets business licence issued by the Bermuda Monetary Authority. The homepage states that its tokens are fully backed, independently audited and issued under regulated frameworks. A licence does not remove market, issuer or smart-contract risk.

What is VNX Gold (VNXAU)?

VNX describes VNXAU as LBMA-certified physical gold that is fully allocated and redeemable. The token is the project's flagship real-world asset product. Silver (VNXAG) and platinum (VNXPT) are marked as coming soon.

How do I get VNX tokens?

Users can mint and redeem VCHF, VGBP and VNXAU from an account or through an API, using SEPA or SWIFT bank transfers. Tokens can also be bought or sold in DeFi markets on supported chains. Whether an account needs identity verification is not detailed on the homepage.

Which blockchains does VNX support?

The homepage lists Ethereum, Polygon, Solana, Base, Arbitrum and Avalanche, plus more, and mentions a bridge across 15+ networks. Other sections cite 6, 7 or 8 chains, so check the platform's chain list for the specific token you want.

Where can I use VNX tokens in DeFi?

VNX lists more than 30 DeFi partners, including Morpho, Uniswap, Jupiter, Kamino, Balancer, Meteora, Curve, Aerodrome and Orca. Uses include lending, borrowing, providing liquidity and earning yield. Each protocol has its own risks.

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