Home » VNX Gold token now available on LBank, expanding global interest in gold-backed digital assets
Liechtenstein, November 2022 — VNX, Europe’s first regulated platform for investing in tokenized precious metals, announces that VNX Gold token is available on a top virtual asset exchange LBank. VNX Gold tokens represent an ownership stake of physical gold bullion certified by the London Bullion Market Association (LBMA). As the premier token of the VNX platform, VNX Gold empowers users to invest in tokenized precious metals as an alternative to traditional stablecoins. Each gold bar is stamped with a unique serial number, linking it with its respective VNX Gold tokens.
Crypto investors have learned some hard lessons on the risks that come from digital assets correlating too closely with traditional markets. While the crypto market is no stranger to volatility, casual investors and traditional institutions may have felt the burn too quickly. But tokens backed by valuable commodities can preserve investors’ value as other assets plummet during times of instability.
LBank users get access to VNX Gold tokens issued on Ethereum and Q blockchains. Q is a novel Layer 1 blockchain that offers the highest level of security for high-value use cases such as asset-backed tokens.
LBank represents increased visibility for VNX Gold to investors across Asia. As a key player in the crypto space, LBank grants users professional management solutions in addition to a full suite of crypto services.
“We are thrilled to see VNX Gold listed on LBank,” says Alexander Tkachenko, Founder and CEO of VNX. “ It exemplifies VNX’s potential to grow and reach investors around the world and in championing asset-backed tokens as an important crypto pillar.”
“VNX Gold is the first asset-backed token on Q and we are excited about its listing on LBank exchange. Q is the ideal platform for high-value use cases such as asset-backed tokens like VNX.” says Nicolas Biagosch, from Q Development AG. “Making VNX Gold available on LBank exchange is a great way to introduce new users to the exciting and growing Q ecosystem”