VNX Launches $VGBP, First British Pound Token on Solana Blockchain for GBP Stability, Licensed by Liechtenstein's FMA

VNX Commodities AG has launched $VGBP, the first token referencing the British Pound Sterling, on the Solana blockchain.

VNX Commodities AG has launched $VGBP, the first token referencing the British Pound Sterling on the Solana blockchain, aiming to provide GBP stability for decentralized finance (DeFi) applications and cross-border payments. The launch was officially announced by VNX and is licensed by Liechtenstein’s Financial Market Authority (FMA).

The introduction of $VGBP marks a significant development in the integration of traditional currencies into blockchain technology.

Earlier this year, VNX received approval from the FMA for the issuance of stablecoins referencing the British Pound Sterling on the Solana blockchain. This authorization follows VNX’s full banking license application, which is still pending.

The FMA’s approval focused on the legal and technical framework for stablecoin issuance, ensuring compliance with relevant regulations.

The launch of $VGBP builds upon VNX’s commitment to fostering innovation in the financial sector. Through its cutting-edge technology and regulatory expertise, VNX aims to facilitate seamless and efficient financial operations in the decentralized space.

As the first token referencing the British Pound on the Solana blockchain, $VGBP is poised to play a pivotal role in connecting traditional and decentralized finance.