Blockchain
VNX launches Europe’s first tokens referencing fiat currencies with an underlying gold base value
VNX, Europe’s first regulated entity for investing in tokenized precious metals under Liechtenstein’s Blockchain Act, launches the VNX Euro (VEUR) and VNX Swiss Franc (VCHF) tokens referencing respective fiat currencies on crypto exchange Emirex with tokenized physical gold as a base value. VNX’s tokens enable new investment and holding strategy implementations through digitally referenced fiat currencies and tokenized precious metals.
The crypto market’s ongoing rough patch may discourage curious retail and institutional investors from exploring its more volatile offerings. For investors wading cautiously through the crypto landscape, tokens referencing traditionally valuable commodities and major European currencies can help rebuild trust in decentralized finance and digital assets.
The launch of VEUR and VCHF expands investor capabilities in the crypto space by offering digital assets tied to traditional currencies. The new additions solidify VNX’s roster of tokens backed by trusted physical commodities, empowering accredited investors searching for stable digital assets to hold, trade, and earn with.
Most of the crypto economy now is denominated in dollars as a reference asset, much like the traditional global economy. But the share of currencies such as EUR and CHF in the traditional economy is much larger in percentage than in the crypto landscape. These currencies are additionally more native to European retail investors and are also the balance currency for institutional market participants based in the region.
As the first coin backed by tokenized precious metals in Europe from a token generator licensed under Liechtenstein’s Blockchain Act, VNX’s platform equips institutional and retail investors to utilize stable crypto assets in a regulated setting. In addition to its flagship physical gold-backed VNX Gold token, users can implement VEUR and VCHF for inflation hedging, CEX/DEX trading, and CeFi or DeFi liquidity and staking.
Founded in 2014 Emirex is dedicated to building the infrastructure for the new digital economy, making VNX Euro and VNX CHF available on Emirex unlocks a new audience ready to explore the possibilities of commodity-backed tokens.
“We are thrilled to launch new fiat-referencing tokens and introduce new ways for our clients to utilize commodity-backed crypto in their investment strategies,” says Alexander Tkachenko, Founder and CEO of VNX. “Launching these tokens is a big step forward in bringing stable and reliable digital assets to a global community.”
“Launching VNX’s fiat-referencing tokens on our platform unlocks new opportunities for crypto investors in EMEA to expand their portfolios,” says Greg Mars, Co-Founder of Emirex. “Expanding digital assets backed by precious commodities offers a defined route with an inherent value for users to explore crypto on their own terms.”
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
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