Tokenised precious metal platform VNX onboards Visa and Mastercard to leverage wider payment acceptance across its native platform.
The addition of the two largest credit payment methods will allow the platform’s users to purchase tokenised gold without needing to process payments through crypto transactions or wire transfers.
Casual investors often see cryptocurrency and decentralised finance (DeFi) as inaccessible and solely tailored to finance professionals and tech savants.
That gap between potential investors and digital assets makes pushing forward other blockchain applications, including the tokenisation of physical assets, more difficult.
By adding Visa and Mastercard to its platform, VNX is expanding its fiat payment capabilities beyond bank transfers and deposits in Bitcoin (BTC) and Ethereum (ETH).
While fiat bank transfers have been a continuous feature on the VNX platform, direct credit payments do benefit from being instantaneous and less invasive than the complicated and highly detailed information required for bank transfers.
The integration of these payment providers will assist investors, novice or otherwise, in diversifying their digital asset portfolios and is set to make the process more accessible.
Recognising the addition as “an important step” for the platform, the company’s CEO and co-founder, Alexander Tkachenko, comments: “As more people explore tokenised precious metals, onboarding the two largest fiat credit cards to our platform helps foster greater accessibility and convenience for both experienced and novice investors.”
Launched in Liechtenstein in 2022, VNX is a Financial Markets Authority (FMA) registered platform for investment in tokenised precious metals, which facilitates the purchase, sale and storage of precious metals.