Counterparty core developer and XCP.Host founder, the Venezuelan John Villar, began developing a blockchain-based trading engine that could be entirely decentralized, completely safe for the users, flexible for accountability and impermeable at the backend. He then joined forces with Socialus in 2017, which became in Venezuela the leading company promoting blockchain technology as an integral solution to improve financial freedom in a country that considered cryptocurrencies illegal,
With the use of cold wallets and federate nodes. It is also adaptable to institutional accountabilities and allows for the use of digital currency represented in tokens pegged at fiat currency value.
VEX has been able to be put into use with several exchanges and adapted for several projects in the management of private and state owned companies.
VEX also allows for the use of fiat currency backed tokens which at the same time makes it possible for an automatized treasury and a bank-less and more safer option for the real economy.