Baker McKenzie Vietnam has successfully advised OKX, a leading global cryptocurrency exchange and Web3 technology company, on a significant strategic investment in the Vietnam Prosperity Crypto Asset Exchange Joint Stock Company (CAEX).
The transaction, led by Ho Chi Minh City-based partner Chris Milliken and senior associate Vu Quynh Trang Nguyen, saw the legal team provide comprehensive support to OKX across various facets, including regulatory advice, transaction documentation, and negotiations.
In collaboration with Baker McKenzie Vietnam, Manh Hung Tran, the managing partner of BMVN International—a firm that has formed a strategic alliance with Baker McKenzie—also contributed valuable regulatory, product, and commercial insights. Special counsel Nguyen Huu Tuan, senior associate Le Thu Minh, and associate Dang Minh Tan played crucial roles in delivering support throughout the investment process.
Additionally, special counsel Thuy Van Pham from Baker McKenzie Vietnam offered guidance on payment laws relevant to the strategic investment.
As a result of this collaboration, OKX will emerge as a strategic partner of CAEX, joining founding Vietnamese shareholders VPBankS and LynkiD, with the inclusion of HashKey Capital as another investor in the initiative. The investment will also feature a commitment from OKX and the other shareholders to provide capital to CAEX. This financial backing aims to help the exchange meet the minimum required capital of VND10 trillion (approximately USD 379 million) needed to participate in the Vietnamese government’s pilot program for regulated crypto asset trading.
CAEX itself is positioned as a regulated platform focused on compliant VND-based digital asset trading, making this strategic move a pivotal step in OKX’s expansion into the Vietnamese cryptocurrency market.
