SatoshiLabs, the makers of Trezor hardware wallet, revealed the establishment of the Vexl Foundation during the BTC Prague conference.

The foundation declares that its mission is to regain financial sovereignty for individuals and advance personal and financial liberties. Taking a firm stance against KYC practices, the foundation strongly believes in using technology to empower individuals rather than exert control over them.

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Additionally, the Vexl Foundation has unveiled the Financial Tyranny Index (FTI), a metric designed to gauge the degree of government intervention in the financial realm. Preliminary findings from Vexl indicate significant levels of state control over finances in Western democracies like France, Belgium, Canada, and the Netherlands.

To bolster its mission, the Vexl Foundation relies on its mobile application called Vexl. This app offers a confidential and safeguarded platform for peer-to-peer bitcoin transactions, free from KYC requirements or institutional meddling.

Lea Petrášová, the CEO of Vexl, thinks it goes beyond considering a mere application, asserting that Vexl represents the very embodiment of their vision for achieving financial autonomy.

The Vexl Foundation enthusiastically invites collaboration from like-minded organizations and individuals who embrace the vision of a liberated and inclusive financial landscape.

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With contributions and guidance from SatoshiLabs, the foundation strives to catalyze a transformation in how people perceive and engage with digital finance.

Emphasizing the importance of reevaluating bitcoin’s founding principles, Marek Palatinus, one of the co-founders of SatoshiLabs, declared: “The Vexl Foundation represents our commitment to driving that very change.”