Ho Chi Minh City (VNA) – As the pilot trading platform for crypto assets is set to be launched before February 28, many domestic enterprises are expediting preparations, from capital increases to system upgrades, in a bid to seize opportunities in the emerging market.
Firms step up readiness
The Vietnam Prosperity Crypto Asset Exchange JSC (CAEX), part of the financial ecosystem of VPBank (VPB), said it has mobilised all necessary resources to meet requirements for participation in the pilot scheme.
In addition to domestic shareholders, CAEX has formed strategic partnerships with leading international firms in exchange operations, liquidity provision and custody services. The company’s shareholders are finalising procedures to raise its charter capital to 10 trillion VND (383.51 million USD), meeting eligibility criteria for the pilot programme.
Nguyen Hong Trung, Chairman and CEO of CAEX, said the firm has completed preparations in technological infrastructure, expert recruitment and international cooperation frameworks to ensure it can roll out services immediately upon official licensing.
CAEX will prioritise system safety, cybersecurity and user experience, while building operational procedures and risk governance mechanisms aligned with international standards. The company also aims to safeguard investors’ interests and foster a transparent and sustainable crypto asset market.
Meanwhile, SSI Digital Technology JSC (SSID), part of the SSI Securities ecosystem, has expanded its registered business lines to include crypto asset-related activities. Newly added sectors cover financial market management involving crypto asset trading, brokerage and proprietary trading of crypto assets, as well as blockchain and distributed data processing services.
On February 11, shortly before the Lunar New Year holiday, Loc Phat Vietnam Crypto Asset Exchange JSC (LPEX) drew attention by increasing its charter capital from 6.8 billion VND to 360 billion VND, more than 50 times higher. The capital increase was fully funded by private investors, reflecting strong determination ahead of the pilot launch.
Earlier, representatives of Techcom Securities JSC (TCBS) said that its affiliate, Techcom Crypto Asset Exchange (TCEX), had submitted its application for a digital asset exchange licence prior to January 15. Over the past six months, TCEX has proactively invested in technological infrastructure and refined operational processes while awaiting approval.
Since 2025, the market has seen the emergence of many companies positioning themselves in this sector, including Vimexchange, VIXEX, TCEX, DNEX and LPEX. Among them, Vimexchange is notable for achieving charter capital of 10 trillion VND shortly after its establishment in June last year.
Legal milestone and pilot-phase challenges
After years of development without a specific regulatory framework, Vietnam’s crypto asset market reached a turning point when the Government issued Resolution No. 05/2025/NQ-CP on September 9, 2025, approving a five-year pilot programme for the crypto asset market. The programme is designed under principles of prudence and controlled experimentation, ensuring transparency and investor protection.
Subsequently, the Ministry of Finance promulgated Decision No. 96/QD-BTC on January 20, 2026, detailing licensing and operational procedures, thereby forming an initial legal corridor for the market. In Resolution No. 23 on the Government’s regular meeting for January this year, relevant agencies were asked to implement the pilot exchange before February 28.
Tran Quy, President of the Vietnam Institute of Digital Economy Development, said Vietnam’s digital economy is projected to reach around 50 billion USD by the end of 2026. The completion of legal mechanisms and rollout of pilot programmes will provide a foundation for its further expansion.
With the legal framework now in place and the pilot roadmap under way, the country’s crypto asset market is expected to gradually enter a more regulated development phase. If infrastructure, legal safeguards and liquidity conditions are implemented in a coordinated and effective manner, the process could enhance transparency and investor safety while shaping a new component within its digital financial ecosystem./.
VNA
