VCHF, issued by VNX Commodities AG, is a fiat-referenced token marketed as a stablecoin that references the Swiss franc (CHF) on a parity basis and represents the information that a reserve at minimum parity has been built for it [S1].

Each VCHF references the Swiss franc (CHF) at minimum 1:1 parity, maintained through gold's intraday daily LBMA exchange rate to the referenced legal tender, because the reserve initially comprises VNX Gold (VNXAU) rather than cash [S1]. The token generates no interest or return and is not designed to accrue financial benefit [S1]. Holders bear a tiered exchange fee of 0.3% below 100k EUR, 0.2% above 100k EUR, and 0.1% above 1M EUR [S1].

VNX Commodities AG is incorporated in the Principality of Liechtenstein at Vaduz, register number FL0002.654.2718, and is registered as a TT Service Provider with the Financial Market Authority (FMA) under the Token and Trusted Technology Service Provider Act [S2][S3][S4]. The token represents information, not a contractual right, and holders cannot redeem it for VNX Gold [S1]. Users must be at least 18, in supported jurisdictions, and Restricted Persons under EU, US, UK and other sanctions are excluded [S1]. The only rail is a TT exchange service into fiat or another token after opening a VNX Account and completing AML and KYC; balances carry no deposit insurance [S1].

VCHF is issued onchain on VNX Supported Blockchains, including Ethereum and Base referenced in the withdrawal-fee schedule [S1][S5]. The token is generated against a VNX Gold reserve formed at generation and maintained at equivalent value; settlement occurs via the platform TT exchange service into EUR, CHF, GBP or supported cryptocurrencies, with balances supported to two decimal places [S1].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://vnx.li/legal/" },
    { id: "S2", url: "https://vnx.li/imprint/" },
    { id: "S3", url: "https://vnx.li/transparency/" },
    { id: "S4", url: "https://vnx.li/legal/" },
    { id: "S5", url: "https://vnx.li/" },
  ]}
/>


Stablecoins

The platform operates across multiple blockchains including Ethereum, Polygon, Solana, Base, and others, allowing users to buy, sell, and transfer tokens 24/7. VNX maintains regulatory compliance through its TVTG registration as a Token Generator and Service Provider, ensures transparency through asset allocation lookups and regular reporting, and generates revenue through token issuance and platform services.

VNX creates blockchain-based tokens that represent physical assets, offering VEUR, VCHF, VGBP (fiat-referenced tokens) and VNXAU (gold-backed tokens). These multichain digital assets enable users to trade, transfer, and utilize real-world assets in DeFi protocols while maintaining regulatory compliance and full transparency through allocated physical backing.

VNX is a Liechtenstein-licensed blockchain company regulated by the Financial Market Authority (FMA) that specializes in tokenizing real-world assets including fiat currencies and precious metals.

twitter

website

Stablecoin issuers

VNX Swiss Franc (VCHF) is a Swiss Franc stablecoin issued by VNX.

Reserves are held in bank deposits, attested by AREVA General Auditing and Trust Company Limited.

Retail investors and institutions can mint and redeem directly with VNX in CHF after completing KYC.

The issuer is supervised in Liechtenstein.

VCHF has been issued on public blockchains since December 2022 and is native to 10 networks, including Ethereum, Polygon, Avalanche, Solana, Stellar, and XRP Ledger.

VNX Swiss FrancVCHF

All metrics