Global cryptocurrency trading platform LBank has announced plans to launch VNX Gold (VNXAU), a multichain token pegged with ownership of specific gold bars.

Following the announcement, LBank is set to top its list of supported projects as the VNXAU token will go live on the exchange on the 25th of October, 2022. Hence, exchange services for the VNXAU/USDT trading pair will officially commence on LBank.

The VNX Gold project allows users to easily trade and manage their gold transactions with digital tokens while also providing an avenue for users to invest confidently from any part of the world.

The VNX Gold project revealed that it believes that users should have exclusive access to making transactions with precious metals from anywhere in the world, complete confidence and protection.

Following this concern, the platform seeks to provide a seamless, user-friendly digital platform where users can buy and sell precious metals for euro and cryptocurrency and transfer them at any hour of the day to their crypto wallet anywhere in the world. And users can enjoy a competitive fee structure with no storage fee.

VNX Gold Issues VNXAU on the Q blockchain

In addition to the token launch on the LBank exchange, the VNX Gold project also revealed that it had issued its gold-backed tokens (VNXAU) on the Q blockchain, a novel Layer 1 blockchain that offers top-notch security for high-value use cases.

The development marks a major milestone for the platform as it would further foster the adoption of the project. The token issued on the Q blockchain will see token holders enjoy high-performance transaction capabilities. Furthermore, users of the VNX Gold project will have the opportunity to leverage solidified trust created by the Q ecosystem.