VNX Swiss Franc

Few blockchains carry the Swiss franc, and VCHF is the reference token for holding it onchain. Issued by Liechtenstein-based VNX under the principality's Blockchain Act, each token is backed one-for-one by francs held in Swiss and Liechtenstein bank accounts. VNX positions VCHF as a hard-currency alternative to the dollar stablecoins that dominate crypto, useful for parking value or hedging without leaving the chain. Any verified holder can redeem tokens with the issuer for the underlying francs, the strongest form of redemption right, rather than being limited to selling on an exchange. VNX added VCHF alongside its euro token in late 2022 and has since spread it across roughly ten networks, from Ethereum and Solana to Tezos and Stellar, and integrated it with regulated venues such as Bitstamp and Sygnum Bank.