Vietnam crypto asset exchange race hits capital requirement hurdles

Nearly one year after the implementation of Resolution 05/2025/NQ-CP, the race to establish licensed crypto asset exchanges in Vietnam has entered a rigorous screening phase. To qualify for a pilot license, companies must meet a minimum contributed charter capital of 10,000 billion VND. Additionally, at least 65% of the capital must be held by organizations, with over 35% coming from at least two entities within sectors such as commercial banking, securities, fund management, insurance, or technology.

Five companies have been identified as having complete and valid initial applications: VIXEX, SCEX, CAEX, TCEX, and Vietnam Digital Asset Joint Stock Company. Notably, CAEX increased its capital from 25 billion VND to the required 10,000 billion VND in April 2026, with VPBankS contributing 1,100 billion VND (11%). Meanwhile, SCEX increased its capital to 5,000 billion VND in August, reaching half of the minimum requirement.

As of early September 2026, no crypto asset exchange has yet been granted a pilot license. The Ministry of Finance has submitted the applications to the Ministry of Public Security and the State Bank of Vietnam for consultation. Beyond capital, regulators are evaluating shareholder capacity, technical infrastructure, risk management processes, and operational history.