VNX is regulated entity which is supervised by the Bermuda Monetary Authority. VNX ensures that the value of its stablecoins is pegged 1:1 to the referenced fiat currency by maintaining fully backed reserves in the reference currency on fully segregated clients’ accounts. These reserves form the basis for the issuance of stablecoins and are always maintained at a level at least equal to the reference value of the stablecoins in fiat currency.
The reserves are subject to independent verification, including regular audits and monthly attestations conducted by independent reliable third-party auditors.