Owning VCHF: Uses, Storage and Risks

VNX Swiss Franc (VCHF) is a stablecoin designed to track the Swiss franc, not the US dollar. Each token is intended to be backed one-to-one by Swiss francs held in reserve and redeemable against that reserve. The issuer is VNX Global Ltd., which holds a Class M digital assets business licence from the Bermuda Monetary Authority. That licence applies to the issuer’s digital-asset business activities; it does not remove the risks of holding a token or guarantee that every holder can redeem on demand.

VCHF may suit you if you need a digital token denominated in CHF and want to transfer it on a supported blockchain. Its value in dollars will move with the CHF/USD exchange rate, so a dollar price above or below $1 does not by itself mean the token has lost its CHF reference. As of 2026-11-08, VCHF was about $1.22. That is a dated market quote, not a promise of a fixed dollar value.

VCHF is issued on Ethereum, Internet Computer (ICP), Tezos, Base, Stellar, Solana and Celo. It is not the native coin of any of these networks. Instead, it is a token that uses the chosen chain’s infrastructure, so the version you hold and the network you select matter when sending it.

Choose a wallet that explicitly supports VCHF on the exact chain you plan to use. A wallet that supports Ethereum assets, for example, may not support VCHF on Stellar or Solana. Before transferring, check the token’s contract or asset details through a trusted source, confirm the receiving wallet accepts that network and send a small test amount if practical. Never send VCHF to an address on a different chain just because the address looks familiar. You will also need the network’s native token to pay transaction fees on networks where fees are paid that way. Wallet support and available transfer routes can change, so confirm them before moving funds.

VCHF had 4,069,871 tokens in both circulating and total supply as of 2026-11-08. No maximum supply is specified. The number of tokens in circulation can change as the issuer creates or removes tokens; stablecoins typically expand or contract supply as tokens are issued or redeemed, but you should not assume a particular process or timing for VCHF without checking the issuer’s current terms.

The market price was about $1.22 per VCHF on 2026-11-08, and the reported market capitalisation was about $4.9 million. These are snapshots, not fixed values. A CHF-referenced token can trade at a different price on different exchanges or networks, especially where trading is thin. If you are assessing a purchase or transfer, check the quote, available liquidity and fees on the venue you intend to use. A displayed price near one Swiss franc in value does not prove that you can redeem at that rate immediately.

Treat VCHF like a crypto asset: whoever controls the wallet’s private keys or recovery phrase can control the tokens. Use a wallet you understand, keep your recovery phrase offline, and never share it with someone claiming they need it to release or verify your VCHF. A hardware wallet can reduce exposure to online key theft, but it cannot prevent mistakes such as choosing the wrong chain or approving a malicious transaction.

Before receiving VCHF, verify that your wallet supports the token on the specific network. For a transfer, check the address, chain and asset details carefully; consider a small test transaction before sending a larger amount. Keep enough of the network’s native token for transaction fees where required. If you hold VCHF through a custodial exchange or service instead, review its withdrawal rules and understand that you depend on that provider to safeguard and release your assets. Do not assume a wallet’s display of a token means the issuer will redeem it for you.

VCHF’s main risks are issuer, reserve and redemption risk. The one-to-one backing and redemption are design claims, but they do not eliminate the possibility of delays, disputes, reserve shortfalls or restrictions. VNX Global Ltd. has a Bermuda Class M digital assets business licence, but a licence is not the same as a guarantee of repayment or deposit insurance. VNX does not publish redemption minimums, fees, processing times or eligibility details in the token facts here; check the issuer’s current terms before relying on direct redemption.

There is also market risk: VCHF can trade above or below its CHF reference, and thin liquidity can make it harder to exit at a fair price. The token can be affected by smart-contract or blockchain failures, exchange or custodian problems, and mistakes sending it on an unsupported chain. Finally, because it is linked to CHF, its value in your local currency can change with foreign-exchange rates. Do not treat it as a cash account or assume its dollar price will remain stable.