Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply across all stablecoins
All 2 stablecoins combined
Share of total stablecoin supply
#77 of 98 issuers by supply
Share of non-USD stablecoin supply
of 74 non-USD stablecoins on the map
Stablecoins issued
median issuer: 1
Chains
read onchain, #16 of 98 issuers
Share of supply in lending
lower bound; above the median issuer (3.3%)
Founded / domicile
VNX Global Ltd. is a Bermuda exempted company limited by shares, licensed by the Bermuda Monetary Authority under a Class M digital assets business licence. It issues VCHF and VGBP, stablecoins pegged 1:1 to the Swiss franc and British pound respectively. VCHF is backed 1:1 by Swiss franc reserves and VGBP is backed 1:1 by British pound reserves, each held in a segregated reserve account.
Both stablecoins VNX Global Ltd. issues, largest first.
Summed across both stablecoins VNX Global Ltd. issues, each dollar counted once. VCHF is 93.0% of the total. Over 30 days, DeFiLlama's circulating supply of these stablecoins changed +13.7%, against -3.1% for all stablecoins on the map.
Supply of every coin VNX Global Ltd. issues, summed by chain from DIA's own totalSupply() reads of the verified contracts. Each coin's tokens are converted to dollars at DIA's price for that coin, or split pro rata from its market figure where DIA has no price, so coins in different currencies can share one column. Wrapped coins are left out: their supply is already inside the coin they wrap. Each chain shows the same amount as the chain row on each coin's own page.
US$2.4M
Read on 7 chains, all in the total
Solana57%US$1.4M
Base25%US$610.6K
Internet Computer14%US$337.0K
Celo2%US$54.8K
Ethereum1%US$31.6K
Stellar<1%US$3.6K
Tezos<1%US$4DeFiLlama circulating supply in USD, grouped by each stablecoin's peg currency. Coins DeFiLlama does not record are not counted.
Source: DeFiLlama circulating supply Updated
In DIA's latest read, both stablecoins VNX Global Ltd. issues sit within 33 bps of their peg.
Today is DIA's latest daily read of each stablecoin's price against one unit of its peg currency, in basis points: 100 bps is 1% away from the peg, above (+) or below (-).
Typical daily move is the standard deviation of the daily gap between the price and the peg over the last 90 days. Largest move is the single day in the last 12 months furthest from the peg. Both come from daily closes at 00:00 UTC (DeFiLlama, with CoinGecko where DeFiLlama has no price) and match the figures on each stablecoin's own page.
VCHF, VGBP are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That widens the 90-day and largest figures, so they are not comparable with the USD stablecoins' figures.
The largest move leaves out days when most other stablecoins of the same currency moved the same way: that move is the exchange rate, not the stablecoin. Left out: VCHF 26 days, VGBP 2 days. The same days are left out on each stablecoin's own page.
Attestation cadence is how often an independent accountant's report covers the reserves, where one is published. A stablecoin with none shown has no cadence published.
Stablecoins whose value rises by design, such as savings wrappers, have no peg figures. Their price is a yield curve, not a peg.
US$242.7K supplied to 3 lending markets on 1 protocol, summed across both stablecoins VNX Global Ltd. issues. That is 10.0% of their onchain supply; the median across 43 issuers in lending markets is 3.3%. Yield pools live on each stablecoin's own page.
Lower bound: the balance of every VNX Global Ltd. coin inside lending markets DIA reads onchain directly, summed. Coins that rebase or wrap another coin are left out, so the balance and the share count the same coins. The figure is gross: most of it is on loan, and borrowed stablecoins can be deposited again. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track.
Share of issued supply is that balance over the onchain supply of all the coins VNX Global Ltd. issues, a coin with no lending market included. Coins that rebase or wrap another coin are outside both sides: a rebasing balance moves by contract, and a wrapper's supply is already inside the coin it wraps.
Source: DIA's own reads of each lending contract. Balances, supply rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under US$1,000, or pinned at full utilisation with runaway interest is left out.
Supply APY and borrowed are averages weighted by each market's balance, over the markets that report them: 100% of the balance for the APY, 100% for borrowed. Borrowed is the share of supplied stablecoins now on loan.
US$243K
supplied to 3 lending markets on 1 protocol, from 1 of VNX Global Ltd.'s 2 coins
83%
Borrowed
share of supplied stablecoins now on loan
0.74%
Average supply APY
weighted by the balance in each market
100%US$243KBaseVCHF / cbETHUS$218K0.76%83%BaseVCHF / cbBTCUS$23K0.51%85%BaseVCHFUS$1KBasein 3 lending markets100%US$243KEach issuer's share is its stablecoins' combined balance in the lending markets DIA reads, over their combined onchain supply. Stablecoins that rebase or wrap another stablecoin are left out of both sides. It leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet, so every share is a lower bound measured the same way, and the ranking compares like with like.
The ranking counts the 43 issuers with any balance in those markets, highest share first. The median is the middle issuer of those 43.
10.0%
of issued supply sits in the lending markets DIA reads
Lower bound: leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet.
Above the median issuer (3.3%)
Licensed by the Bermuda Monetary Authority under the Digital Asset Business Act.
Regulator: Bermuda Monetary Authority
Licences: BMA Class M digital assets business licence
This chart is DeFiLlama circulating supply. The headline figure above is mostly DIA’s onchain reads, with DeFiLlama where DIA does not read, so the last point can differ from it.
Source: DeFiLlama circulating supply Updated
