Stablecoins have long been dominated by USD-pegged assets, but the arrival of VNX Euro (VEUR), VNX Swiss Franc (VCHF), and VNX British Pound (VGBP) on the Base chain marks a pivotal shift for DeFi users seeking non-USD exposure. These tokens, issued by VNX and fully backed by reserves in their respective fiat currencies, are now live on Base, offering new tools for cross-border payments, savings diversification, and on-chain FX trading.
Why Non-USD Stablecoins Matter on Base
The launch of VEUR, VCHF, and VGBP on Base is more than just an expansion of token listings. It represents a step toward a more globally inclusive DeFi ecosystem. Until now, most stablecoin liquidity and DeFi activity have centered around USD-pegged assets like USDC or USDT. This limited both geographical reach and hedging strategies for users outside the US or those seeking currency risk diversification. With these new options:
- VEUR allows eurozone users to transact natively in their home currency.
- VCHF, as the first Swiss franc-backed stablecoin on Base, opens up Swiss market access for DeFi.
- VGBP brings British pound exposure to a blockchain-native format.
This trio unlocks fresh use cases, from euro-denominated lending pools to GBP-based remittances, while allowing traders to hedge against USD volatility directly within the Base ecosystem.
The Mechanics: How VEUR, VCHF, and VGBP Work
VEUR and VCHF are not just synthetic representations but are fully backed 1: 1 by fiat reserves held in regulated banks in Switzerland and Liechtenstein. This regulatory-grade approach provides transparency and trust, two critical factors for stablecoin adoption in DeFi. The upcoming VGBP is expected to follow this same model once live.
The multichain nature of these assets means you can bridge them between networks like Ethereum, Polygon, Solana, Avalanche, and now Base, without losing their peg or liquidity. This interoperability is crucial for users who want to move capital seamlessly across ecosystems without manual conversions or exposure to slippage.
Key Features of VNX Non-USD Stablecoins on Base
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VNX Euro (VEUR): A fully-backed stablecoin pegged 1:1 to the Euro, issued by VNX. VEUR is available on Base and multiple other blockchains, supporting cross-border payments, DeFi, and on-chain FX trading. Reserves are securely held in Swiss and Liechtenstein banks, ensuring transparency and stability.
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VNX Swiss Franc (VCHF): The first regulated Swiss Franc stablecoin on Base, VCHF is pegged 1:1 to CHF and backed by fiat reserves. It enables users to access Swiss Franc value in decentralized finance, with reserves held in reputable European banks for full transparency.
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VNX British Pound (VGBP): A pioneering GBP-pegged stablecoin on Base, VGBP provides exposure to the British Pound for DeFi users. Designed for cross-border payments and on-chain FX, it expands the range of fiat-backed digital assets available on the Base network.
Where Can You Use Non-USD Stablecoins on Base?
The practical applications for these tokens are already emerging across DeFi protocols native to Base:
- Lending and Borrowing: Platforms can offer euro-, franc-, or pound-denominated lending pools with lower FX risk for European users.
- Savings and Payments: Everyday transactions can be settled in local currencies using integrations like Wirex cards that support VEUR and VCHF (source).
- On-chain FX Trading: Users can trade between VEUR/VCHF/VGBP pairs directly within DEXs without leaving the crypto ecosystem.
- Diversification: Investors can hedge against USD fluctuations by holding non-dollar stablecoin balances within their Base wallets.
This broadens both the user base and utility of the Base chain beyond what was previously possible with only USD-pegged assets.
With VEUR, VCHF, and VGBP now live on Base, users have direct access to non-USD stablecoins that are both transparent and highly interoperable. This is not just a technical upgrade, it’s a strategic one for the entire DeFi landscape. By holding or transacting in these tokens, users can sidestep USD exposure when it’s advantageous, participate in region-specific DeFi products, and tap into new cross-border payment rails that weren’t possible just months ago.
How to Acquire and Bridge VEUR, VCHF, and VGBP on Base
Getting started with these stablecoins is straightforward for both seasoned DeFi users and newcomers. Here’s a practical guide:
How to Acquire and Bridge VEUR, VCHF, or VGBP to Base
You can purchase VEUR, VCHF, and (soon) VGBP directly on supported decentralized exchanges (DEXs) within the Base ecosystem. For those already holding these assets on Ethereum or other networks like Polygon or Avalanche, bridging services enable seamless transfers to Base, no need to liquidate or convert your holdings first.
Platforms such as Wirex have already integrated VEUR and VCHF for spending via debit cards (source). This means you’re not limited to DeFi: real-world use cases like remittances or daily purchases are now viable with non-USD stablecoins.
Risks and Considerations
While the introduction of non-USD stablecoins brings clear advantages, it’s important to weigh the risks:
- Liquidity: As newer assets on Base, VEUR, VCHF, and especially VGBP may initially have lower liquidity compared to established USD-pegged tokens. This can impact slippage during large trades.
- Regulatory Environment: Although fully backed by fiat reserves in Swiss/Liechtenstein banks (details here), changes in regulations could affect how these assets are issued or redeemed.
- Bridging Risks: Moving assets across chains always carries some smart contract risk; users should stick to reputable bridges and follow best security practices.
The Outlook for Non-USD Stablecoins on Base
The launch of VEUR, VCHF, and soon VGBP signals a maturing stablecoin sector within the Base ecosystem. These tokens are likely to catalyze further innovation: expect more euro-, franc-, and pound-denominated lending markets; increased adoption by European DeFi projects; and deeper integration with global payment rails.
Top Use Cases Unlocked by VEUR, VCHF, and VGBP on Base
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VNX Euro (VEUR): Enables seamless euro-denominated transactions, cross-border payments, and euro-based DeFi activities on Base. VEUR’s full fiat backing and multichain availability make it ideal for users seeking stability and interoperability beyond USD-pegged assets.
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VNX Swiss Franc (VCHF): The first Swiss franc-pegged stablecoin on Base, VCHF unlocks new DeFi opportunities for CHF holders, supports on-chain FX trading, and facilitates remittances in Swiss francs. Its regulatory-grade backing ensures user confidence and compliance.
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VNX British Pound (VGBP): As the first GBP-referenced stablecoin on Base, VGBP allows users to access British pound liquidity for DeFi protocols, on-chain savings, and cross-border settlements. This broadens the scope for non-USD stablecoin use in the Web3 ecosystem.
The real test will be user adoption, if demand grows for FX trading pairs or region-specific DeFi products denominated in EUR, CHF, or GBP values. For now though, early data points toward strong interest from both retail users seeking currency diversification and institutions looking for regulated stablecoin solutions beyond the dollar.
If you’re looking to diversify your crypto holdings or participate in a more globally inclusive DeFi ecosystem on Base, exploring VEUR, VCHF, and (as it launches) VGBP is an excellent place to start.