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VNX Rolls Out, Becomes 1st European Regulated Precious Metals Tokenization Service

Cryptocurrency Mar 29, 2022 07:00AM ET
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© Reuters VNX Rolls Out, Becomes 1st European Regulated Precious Metals Tokenization Service
 
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  • VNX has launched its platform for managing precious metal transactions withdigital tokens.
  • The platform features the Ethereum-based VNX Gold token, VNXAU.
  • Each token represents ownership of one gram of physical gold and provides clients with all underlying commodity benefits, merged with the flexibility of a crypto asset.

VNX has opened its services for managing precious metal transactions with digital tokens — becoming the first European regulated precious metals tokenization platform.

The platform features the Ethereum-based VNX Gold as its first tokenized precious metal which represents an ownership stake in a physical bullion. This asset is certified by the London Bullion Market Association (LBMA).

Furthermore, each gold bar is linked with its respective VNX Gold token through the stamped distinctive serial numbers. VNX Gold tokens are available on the platform under the ticker VNXAU. Clients can purchase these tokens using Euros, Ether, or Bitcoin.

Each token represents ownership of one gram of physical gold and prov ...

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VNX Rolls Out, Becomes 1st European Regulated Precious Metals Tokenization Service
 

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Pauline Leroy
Pauline Leroy Mar 29, 2022 9:29AM ET
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