The Vietnam Government has approved cryptocurrency pilot exchanges, which has caused an activity among the main banks and securities companies.
After the publication of Resolution 05/2025, which establishes the strict capital and shareholders requirements, financial institutions are investing in technology and associations to meet the new framework. In addition, stock corridors and commercial banks are preparing the infrastructure to participate in the recently regulated digital asset market.
Securities companies take the initiative
Vietnam Resolution 05/2025 authorizes a pilot program for cryptographic issuance, trade and the provision of services under government supervision. Companies must have at least $ 68 million (VND 10 billion) in charter capital to qualify.
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In addition, 65 percent must be owned by organizations, and at least 35 percent must be contributed by two or more commercial banks, securities companies, fund managers, insurers or technology companies. These rules have caused rapid actions of national financial institutions.
SSI Securities Corporation has positioned itself early. In 2022, SSI Digital Corporation formed with $ 1.36 million (VND 200 billion) in capital to develop a digital financial ecosystem. In addition, SSI recently signed agreements with Tether, U2u Network and Amazon Web Services to create blockchain and cloud infrastructure. These steps feel the foundations for tokenized assets services.
Techcom Securities (TCBS) also moved quickly. In May 2025, Techcom Cifred Asset Exchange (TCEX) created with an initial charter capital of $ 20 million (VND 3 billion), which then increased to $ 690 million (VND 101 billion). Similarly, Vix Securities contributed $ 1.02 million (VND 150 billion) to establish Vixex. As a result, Vixex quickly expanded to $ 6.8 million (Vnd 1 billion). These developments indicate a growing participation of runners in the digital asset sector.
Banks strengthens digital infrastructure
Banks are looking for associations because licensed exchanges must include important financial or technological shareholders. For example, Militial Commercial Stock Bank (MB) has been associated with the Dunamu Group of South Korea, operator of UPBIT. UPBIT is one of the largest cryptographic exchanges in the world, with a negotiation volume of 2024 that exceeds $ 1.1 billion. According to the agreement, DUNAMU will provide technology transfer, legal orientation of compliance and experience in investor protection.
The Commercial Bank of Joint Vietnam Actions Prosperity (VPBANK) is also completing its entry strategy. VPBANK Securities (VPBANKS) heads efforts to build a tokenized asset exchange. In addition, VPBANKs is preparing an OPI to raise capital from national and foreign investors. This step is part of the bank’s preparation to participate in the Pilot Crypto Exchange program.
Perspectives for the Vietnam digital asset market
The combination of Vietnam of strict license requirements and proactive financial institutions prepare the scenario for a competitive panorama of cryptocurrency exchange. Stocking companies and banks also invest in technology, associations and regulatory compliance.
Despite the hopes of By emerging as a key digital asset center in Southeast Asia, the success of the pilot program will depend on effective supervision, investor protection and institutions to balance innovation with risk management.
