[{"data":1,"prerenderedAt":328},["ShallowReactive",2],{"api/learn-center-post-en-GB-what-is-vnx-swiss-franc-vchf":3,"en-gb/learn/cryptocurrency-guide/what-is-vnx-swiss-franc-vchf-en-GB-seo":59,"footer-en-GB":64,"navigation-en-GB-learn-center":237,"api/learn-categories-en-GB":288},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":41,"title":5,"formattedPublishedAt":52,"geofencings":53,"category":54,"pagination":56,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is VNX Swiss franc? (VCHF)","What is VNX Swiss franc? (VCHF) - Cryptocurrency Guide","What is VNX Swiss franc? How does VCHF work? Read our guide to the VCHF stablecoin and start trading VCHF on Bitstamp by Robinhood.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/VCHF_1svg_e1707c79fb_8cf4592233.svg","image/svg+xml",".svg",1676,858,"VCHF_1svg_e1707c79fb.svg","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/cryptocurrency-guide/what-is-vnx-swiss-franc-vchf/","en",{"pathname":24,"locale":25},"/es/learn/cryptocurrency-guide/what-is-vnx-swiss-franc-vchf/","es",{"pathname":27,"locale":28},"/en-gb/learn/cryptocurrency-guide/what-is-vnx-swiss-franc-vchf/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-vnx-swiss-franc-vchf",false,"\u003Cp>The VNX Swiss franc (VCHF) is a stablecoin that tracks the price of Switzerland’s national currency and is backed by tokenized gold.\u003C/p>\n",{"url":39,"mime":12,"ext":13,"width":14,"height":15,"name":40,"alt":17},"bitstampImageUrl/VCH_Fsvg_a2f8a2ac98_5f7e3f4112.svg","VCH_Fsvg_a2f8a2ac98.svg",[42],{"component":43,"props":44,"content":45,"secondaryContent":49,"ctas":50,"secondaryCtas":51,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":46,"width":47,"align":48},"\u003Cp>The VNX Swiss franc (VCHF) is a stablecoin that tracks the price of Switzerland’s national currency and is backed by tokenized gold.\u003C/p>\n\u003Cp>\u003Cstrong>Stablecoins\u003C/strong> have become vital assets for cryptocurrency’s casual users and superusers alike—and for everyone in between. They help traders hedge against the volatile cryptocurrency market, allow for the exchange of fiat equivalents in the digital world, and are useful as trading partners to coins like BTC and ETH.\u003C/p>\n\u003Cp>VCHF is issued by the Liechtenstein-based company VNX, which launched as an exchange for fundraising/private equity but evolved into a broker of real-world assets. Companies like VNX have capitalized on the market’s demand for these assets, issuing their own tokenized fiat stablecoins linked to the US dollar, the euro, and other currencies. One such token is VCHF (a digital Swiss franc), which VNX calls a “fiat referencing token” and is backed by the company’s own digital gold asset.\u003C/p>\n\u003Cp>More information about VNX and its other products can be found in the article What is VNX euro? (VEUR). As VEUR and VCHF were developed with a similar design, all aspects of VEUR are applicable to VCHF—except for the pegged (or “referencing”) fiat currency.\u003C/p>\n\u003Ch2>How does VNX Swiss franc work?\u003C/h2>\n\u003Cp>Like VEUR, VCHF is a “fiat referencing token” (FRT), an alternative model for tokenization that is intended to act like other stablecoins (i.e., maintain a price consistent with its pegged asset—in this case, the Swiss franc). Briefly, FRTs are backed by VNX’s digital gold (VNXAU), which is further backed by physical gold held in reserve.\u003C/p>\n\u003Ch3>How is the VCHF token used?\u003C/h3>\n\u003Cp>New VCHF can only be issued through the VNX platform by registered customers by depositing an equivalent value of assets. However, anyone can use VCHF if they obtain it through other sources like decentralized exchanges or peer-to-peer transactions.\u003C/p>\n\u003Ch2>Conclusion\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>VCHF is a stablecoin that tracks the price of the Swiss franc.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>The company that issues VCHF, called VNX, is based in Lichtenstein and also issues VEUR, a fiat-referencing token (FRT) with the same design as VCHF that follows the euro.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>VCHF is backed by VNX’s digital gold token, VNXAU, which is backed by physical gold held in reserve.\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"July 29th, 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Kingdom",{},{},{"title":197,"content":17,"items":198},"Contact",[199,204,208,212,216,220,225,230],{"noFollow":36,"isExternal":36,"name":200,"value":201,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":202,"geofencings":203},"Customer 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20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":226,"value":227,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":228,"geofencings":229},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":231,"value":232,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":233,"geofencings":234},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":238,"ready":33,"platformButtonText":284,"backButtonText":285,"logInButtonText":286,"signUpButtonText":287},[239,244,250,253,257,262,267,270,275,280],{"headerName":240,"sidemenuName":121,"url":241,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":242,"submenu":243,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":245,"sidemenuName":245,"url":246,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":247,"submenu":248,"tag":249},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":136,"sidemenuName":136,"url":137,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":251,"submenu":252,"tag":17},{},[],{"headerName":254,"sidemenuName":254,"url":109,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":255,"submenu":256,"tag":17},"Mobile App",{},[],{"headerName":258,"sidemenuName":258,"url":259,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":260,"submenu":261,"tag":17},"Markets","/markets/",{},[],{"headerName":263,"sidemenuName":263,"url":264,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":265,"submenu":266,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":113,"sidemenuName":113,"url":114,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":268,"submenu":269,"tag":17},{},[],{"headerName":271,"sidemenuName":271,"url":272,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":273,"submenu":274,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":276,"sidemenuName":276,"url":277,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":278,"submenu":279,"tag":17},"Learn","/learn/",{},[],{"headerName":281,"sidemenuName":281,"url":109,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":282,"submenu":283,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[289,293,297,301,305,309,312,316,320,324],{"title":290,"url":291,"geofencings":292},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":294,"url":295,"geofencings":296},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":298,"url":299,"geofencings":300},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":302,"url":303,"geofencings":304},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":306,"url":307,"geofencings":308},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":32,"url":310,"geofencings":311},"/en-gb/learn/cryptocurrency-guide/",{},{"title":313,"url":314,"geofencings":315},"People profiles","/en-gb/learn/people-profiles/",{},{"title":317,"url":318,"geofencings":319},"Security","/en-gb/learn/security/",{},{"title":321,"url":322,"geofencings":323},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":325,"url":326,"geofencings":327},"Web3","/en-gb/learn/web3/",{},1775562965291]