VNX Introduces Stablecoins Anchored to Euro and Swiss Franc on Stellar Network
VNX, a company based in Liechtenstein, has launched stablecoins on the Stellar network pegged to the Euro (VEUR) and the Swiss Franc (VCHF).
- Accessible on Bitstamp exchange for easy trading
- Registered with the Financial Market Authority of Liechtenstein under blockchain law
Stablecoins by VNX: A Milestone in Crypto Market
The introduction of stablecoin VNX Swiss Franc (VCHF) is significant as it is the first stablecoin anchored to the Swiss Franc on the Stellar network.
- CEO Alexander Tkachenko emphasizes transparency and compliance
- VNX Euro and Swiss Franc available for payments, FX trading, and DeFi opportunities
Stellar Network Endorsement for VNX Stablecoins
The CEO of Stellar Development Foundation, Denelle Dixon, commends VNX Euro and Swiss Franc stablecoins as valuable additions to the Stellar network.
- Stellar platform ideal for asset tokenization due to its decentralization and scalability
- Bitstamp CEO Jean-Baptiste Graftieaux supports mainstream adoption of cryptocurrencies through stablecoins like VNX Swiss Franc
OKXโs Decision to Remove USDT Stablecoin for European Users
OKX exchange recently announced the removal of USDT trading pairs for European users, citing legal concerns related to the MiCA regulation.
- MiCA regulation poses challenges for Tetherโs USDT as it may not fully comply with e-money token requirements
- Tetherโs USDT collateralized in USD but facing regulatory scrutiny in Europe
Closing Thoughts ๐
In conclusion, VNXโs launch of stablecoins anchored to Euro and Swiss Franc on the Stellar network marks a significant development in the crypto market. The endorsement from industry leaders like Stellar Development Foundation and Bitstamp underscores the growing acceptance of stablecoins for mainstream adoption. Meanwhile, OKXโs decision to remove USDT trading pairs highlights the evolving regulatory landscape affecting stablecoins in Europe. As the crypto industry continues to innovate, it will be interesting to see how these developments shape the future of digital assets.
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