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A multi-dimensional discussion on Vietnam’s pilot resolution for digital asset exchanges
1/ Key takeaways
The financial-tech landscape in Vietnam is buzzing following the high-level dialogue: “Pilot Digital Asset Exchange: Supervision Mechanisms, Operational Capacity, and Investment Standards.” This event, held on March 25, 2026, marks the definitive transition from abstract policy to real-world execution.
2/ A multi-dimensional discussion on Vietnam’s pilot resolution for digital asset exchanges
2.1. Vietnam’s 10,000 billion VND “gold” license: The first five licenses
The most significant update from the Ministry of Finance is the identification of five organizations that have submitted valid dossiers. These entities are currently undergoing coordinated review by the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam. The lineup reveals a mix of trillion-dong giants and specialized ecosystem players:
- VIX Digital Asset Exchange (VIXEX): A heavyweight with 1,000 billion VND charter capital, backed by VIX Securities and FTG Vietnam
- Vietnam Digital Asset JSC: Another 1,000 billion VND contender, notably controlled by Sun Group (64%) in partnership with PetroVietnam Securities (PSI)
- Techcom Digital Asset Exchange (TCEX): Backed by 101 billion VND, leveraging the Techcombank ecosystem via Techcom Securities (TCBS)
- Vietnam Prosperity Digital Asset Exchange (CAEX): Originally starting with 25 billion VND, this VPBank-affiliated exchange has reportedly been finalizing procedures to scale its capital to 10 trillion VND to meet peak pilot requirements
- Loc Phat Vietnam Digital Asset Exchange (LPEX): Initially registered at 6.8 billion VND, this entity has recently surged its capital base (rumored up to 360 billion VND) to secure its spot in the race
2.2. Discussion of Vietnam’s digital asset exchange pilot resolution: Event recap
The dialogue on the morning of March 25, 2026, served as a landmark meeting between the State Securities Commission and the Vietnam Blockchain and Digital Asset Association (VBA). The first session focused heavily on the rigorous post-licensing supervision mechanisms, emphasizing that operational capacity is not just about having a license but maintaining high standards in technology, system safety, risk management, and specialized human resources.
In parallel, the second session shifted toward the practical challenge of “Strategy for Attracting Investors in the Initial Stage.” Experts highlighted that building long-term trust and optimizing the user experience are paramount for success. Participants discussed how domestic exchanges can leverage their unique advantages, such as direct integration with the Vietnamese banking system and alignment with local legal corridors, to ensure asset safety and liquidity. Ultimately, the forum concluded that a transparent and sustainable market requires synchronized preparation from regulators, businesses, and the investor community alike.
3/ Hola Tech’s pov:
At Hola Tech, we see this pilot program as the official “institutionalization” of trust in Vietnam’s digital economy. The entry of billion-dong players like Sun Group and Techcombank proves that digital assets have transitioned from a fringe interest to a strategic national infrastructure. However, the real test for the “Final Five” will not be obtaining the license, but maintaining it through rigorous operational discipline. With high-level security standards now a baseline, these platforms will operate under a microscope; any failure in “Know Your Customer” (KYC) protocols or a significant data breach could stall the entire national progress.
To succeed, these pioneering exchanges must prioritize “Compliance-by-Design,” building automated systems that flag suspicious activities to authorities as a core feature rather than an afterthought. Furthermore, as the market becomes “official,” a wave of traditional, cautious investors will follow. We believe the winners will be those who bridge the education gap by providing the best Digital Asset 101 resources to win the loyalty of the “silent majority.” Finally, we recommend a Hybrid Blockchain approach: utilizing private chains for sensitive internal governance and public ledgers for transaction transparency to satisfy the government’s dual demand for both absolute control and public verifiability.
Want to see what a compliant, high-performance exchange looks like? Our implementation of MoonFi is a prime example of our ability to build robust, enterprise-grade Centralized Exchanges (CEX). This platform showcases our extensive experience in navigating complex fintech infrastructures and ensuring strict adherence to regulatory frameworks like Resolution 05/2025/NQ-CP.
Want to stay ahead of the curve in the world of decentralized technology and AI? Check out Hola Tech blog for more exciting technology news and useful information!
