Overview
Regulated stablecoin issuance and digital-asset payments for treasury, compliance, and risk leaders — under Bermuda's DABA Class M regime.
Overview
VNX Global Ltd is a Bermuda exempted company holding a Class M digital assets business licence from the Bermuda Monetary Authority (BMA), authorised to conduct digital-asset exchange, payment services, and digital-asset service vendor activities under DABA. The Institutional Track of this documentation is written for chief financial officers, treasury teams, and compliance leaders who need to evaluate the regulatory grounding, reserve mechanics, custody architecture, and operational controls behind VNX stablecoins (VCHF and VGBP) and the institutional payment services (on-ramp/off-ramp).
This material is for general information only and is not an offer, solicitation, recommendation or invitation to use VNX Global services in any jurisdiction where such offer or solicitation would be unlawful. The services are not directed at persons in the European Economic Area or any prohibited or sanctioned jurisdiction. Access to services is subject to onboarding, eligibility assessment, AML/ATF checks, sanctions screening and the VNX Global Terms.
Key benefits
Regulator-anchored issuance — every stablecoin is backed by 100% segregated reserves at Bermuda Commercial Bank or other regulated institutions, with daily valuation against tokens in circulation.
Conservative liquidity design — at least 10% of total reserves held in immediately accessible (T+0) cash and other within 48 hours.
Three-lines-of-defence governance — Board-approved risk appetite, an Audit/Risk/Compliance Committee, an independent internal audit, and BMA Senior Representative reporting under DABA section 20.
Use cases
Corporate treasury — institutional asset managers and trading firms moving CHF or GBP liquidity across borders with par redemption and audited reserves.
Exchanges and OTC desks — compliant fiat-pegged stablecoins for liquidity pools, on/off-ramps, and inter-venue settlement.
How it works
VNX Global Ltd. issues VCHF and VGBP as single-currency pegged stablecoins intended to maintain a 1:1 value against their respective fiat currencies. Customer fiat received for issuance is recorded, reconciled and held in segregated, currency-matched reserve accounts. After onboarding, AML/ATF checks, sanctions screening, wallet verification and other applicable controls, stablecoins may be minted to the customer’s platform wallet or an approved whitelisted external wallet.
Minting and settlement times depend on the funding method, banking rails, blockchain confirmations, wallet verification, Travel Rule data exchange, compliance checks and operational availability, and are not guaranteed. Redemptions are subject to eligibility, the VNX Global Terms, compliance controls, liquidity conditions and applicable law, and may be processed through token cancellation/burning against reserves or approved liquidity arrangements.
VNX Global’s services include stablecoin issuance and redemption, crypto/fiat conversion, payment infrastructure services and limited proprietary trading. Proprietary trading is conducted only with VNX’s own funds and must not use client funds or stablecoin reserves.
All services are supported by VNX’s compliance and internal-control framework, including AML/ATF and sanctions screening, customer and wallet verification, transaction monitoring, segregation of duties, approval controls and escalation procedures.
Stablecoin reserves are held in segregated accounts at Bermuda Commercial Bank or other regulated financial institutions, legally separate from VNX’s own assets. Client funds, stablecoin reserves and proprietary capital are segregated, and co-mingling is prohibited.
Regulatory and risk context
Read the Regulatory Framework for the DABA Class M licence scope and the Enterprise Risk Framework for the risk taxonomy and appetite. Reserve mechanics are detailed in Reserve Management.
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