Ho Chi Minh City (VNA) – The Fintech Hub, one of four strategic pillars of the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC), was launched on April 14 at a high-level investment forum co-organised with Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank).
Positioned as a financial technology innovation centre, the hub will serve as a platform linking banks, businesses and investors, while enabling the testing of new financial models under a regulatory sandbox mechanism. It is expected to accelerate the development of the city’s fintech ecosystem.
A fintech investment fund with a projected size of 30 million USD was also introduced to support technology firms in scaling up and expanding into new markets.
According to Associate Professor Nguyen Huu Huan, Vice Chairman of the VIFC-HCMC Executive Board, the Fintech Hub plays a central role in building a comprehensive fintech ecosystem and marks an important step in developing infrastructure and market connectivity to support the city’s ambition of becoming an international financial centre.
The ecosystem is structured in multiple layers, including infrastructure providers developing core technologies such as artificial intelligence (AI), blockchain and layer-1 systems, alongside data centre investments. The application layer comprises domestic and foreign fintech firms developing and commercialising digital financial products, with the sandbox mechanism allowing pilot testing before market rollout.
An investment layer will focus on attracting venture capital and financial institutions to fund fintech firms and startups, while a startup layer aims to nurture technology unicorns and support their global expansion. The system is further supported by IFC Academy and auxiliary services such as accounting, tax, consulting and mentoring.
The integrated model is expected to significantly reduce market entry time, allowing fintech firms to become operational within about one week, compared to 6–12 months under traditional processes.
The launch marks a concrete step in the city’s strategy to build a next-generation financial centre with deeper integration into global capital markets and a technology-driven competitive edge.
Recent rankings show improving momentum. In the Global Financial Centres Index (GFCI 39), Ho Chi Minh City rose 11 places to 84th and was identified among centres with potential to increase influence in the next two to three years. In fintech, it climbed seven places to 83rd globally.
The StartupBlink 2025 report also recorded the city’s fourth consecutive year of improvement in global startup rankings, with fintech among the fastest-growing sectors. The city ranks in the global top 30 for blockchain and second in Southeast Asia.
Amid rising interest in digital assets and emerging financial models, VIFC-HCMC is preparing enabling conditions. A cooperation agreement between Binance and the municipal Department of Finance has been handed over to the centre, focusing on technology support and product development.
Trends such as asset tokenisation and cross-border payments are also under study, with pilot mechanisms expected if deemed feasible.
Nguyen Cong Vinh, Vice Chairman of the municipal People’s Committee, said the hub represents a key step in developing the city’s fintech ecosystem, serving as a testing ground for new financial models, a platform connecting stakeholders, and a launchpad for Vietnam’s global expansion.
Authorities have pledged to refine a flexible, internationally aligned legal framework to ensure a transparent and predictable investment environment while promoting innovation.
A key enabler will be breakthrough institutional mechanisms. As the city drafts its Special Urban Law, greater autonomy in economic decision-making is expected to support innovation, with the sandbox mechanism seen as central to testing new policies and business models before wider adoption.
While the physical scope of VIFC-HCMC remains centred in Thu Thiem and parts of Sai Gon ward, the draft law is expected to expand the regulatory sandbox space, allowing broader pilot implementation and enhancing the city’s attractiveness as a regional financial hub./.
