VNX launches platform with Ethereum-based tokens representing direct ownership of certified gold held in a Liechtenstein-based secured vault
VNX, the first European regulated platform for investment into tokenized precious metals, launches its platform for efficient management of precious metal transactions with digital tokens. The first tokenized precious metal on the platform is VNX Gold, based on Ethereum, representing an ownership stake in a physical gold bullion certified by the London Bullion Market Association (LBMA). A unique serial number stamped on each gold bar links it with the respective VNX Gold tokens, which are available on the VNX platform under the ticker VNXAU.
Gold has persevered as an inflation hedge, historically bringing stability to investors during market volatility. It continues to do so now, as it trades at its highest price since last June. This stable commodity is seen as a safe bet amid market crashes or general uncertainty, bringing apprehensive investors a more diversified portfolio along with the peace of mind.
VNX platform allows users to purchase tokenized gold in the form of VNX Gold tokens using Euros, Ether, or Bitcoin from anywhere around the world in just a few clicks. Each VNX Gold token represents ownership of one gram of physical gold, and offers investors all the advantages of its underlying commodity merged with the flexibility of a crypto asset. Users can transfer their VNX Gold tokens to any Ethereum wallet while the physical gold is stored in a vault in Liechtenstein with full insurance and zero storage fees. Holders can also collect their physical gold or receive a minimum of one kilogram of gold via global delivery.
Compliant with the Liechtenstein’s Tokens and TT Services Providers Law (TVTG, also known as the Blockchain Act) and regulated by the Financial Market Authority (FMA), VNX internally carries out all necessary tokenization services. The VNX platform is KYC and AML compliant, providing the institutional grade standards of investor protection for a reliable hedge instrument for crypto investors.
“The crypto market is inherently volatile and offers investors little, if anything, in terms of hedging,” says Alexander Tkachenko, Founder and CEO of VNX. “Our secure platform and tokens backed by gold offer clients a cutting-edge way to invest in precious metals, without the headache of traditional ownership associated with storage, transportation, etc. We are thrilled to launch our tokenized gold which can be used as a hedge against market uncertainty and stored in a digital wallet.”
“With the Blockchain Act, Liechtenstein wanted to create a legally secure link between the token economy and the physical world in order to build a greater degree of trust, which is important for both blockchain businesses and citizens,” says Dr. Thomas Dünser, Director of the Office for Financial Market Innovation and Digitization of the Principality of Liechtenstein. “It is good to see that smart and innovative projects are making use of this legal fundament.”