OKX, a prominent player in the global Web3 technology sphere and cryptocurrency exchange market, has made a significant strategic investment in Vietnam Prosperity Crypto Asset Exchange JSC (CAEX). This investment positions OKX to participate in Vietnam’s pilot program aimed at regulated cryptocurrency asset trading.
Joining CAEX as a strategic partner, OKX collaborates with founding Vietnamese stakeholders VPBankS and LynkiD, alongside investment from HashKey Capital. The company has committed to infuse capital in April to help CAEX meet the government’s minimum capital requirement of 10 trillion VND (approximately $380 million), which is necessary for participation in the regulatory pilot program.
Star Xu, founder and CEO of OKX, expressed confidence in CAEX, stating that it combines strong local knowledge with global expertise. He emphasized the goal of enhancing CAEX’s infrastructure, compliance, security, risk management, and liquidity to responsibly scale within Vietnam’s evolving regulatory environment.
The Vietnamese Ministry of Finance recently shortlisted five applicants for digital asset exchanges seeking pilot licenses, confirming that five of the seven submissions met regulatory criteria, while two were deemed incomplete. The shortlisted exchanges include VIX Digital Asset Exchange JSC (VIXEX), Loc Phat Vietnam Crypto Asset Exchange JSC (LPEX), CAEX, Techcom Digital Asset Exchange JSC (TCEX), and Vietnam Digital Assets JSC.
Vietnam is undergoing a transformation in its approach to cryptocurrency, transitioning from a phase of early adoption to formal recognition under the law. The Law on Digital Technology Industry 2025 is set to take effect on January 1, 2026, granting legal status to digital assets for the first time in the country. This shift has prompted several domestic firms to prepare for the government’s pilot program, with at least five companies reported to have met the application requirements.
The competitive landscape is evolving, with local platforms benefiting from advantages such as direct banking integration, user identification linked to national databases, and improved legal mechanisms for dispute resolution. To Tran Hoa, deputy head of the crypto market management board under the State Securities Commission of Vietnam, highlighted that regulators will block unlicensed offshore cryptocurrency platforms and mandate that all domestic investment transactions take place through licensed local exchanges. This move aims to enhance regulatory oversight of the rapidly growing digital asset market.
During a recent policy forum on crypto exchange pilots, Hoa pointed out the necessity of establishing a legal framework to meet global anti-money laundering standards. He indicated that once the first licensed domestic exchange becomes operational, all trades by Vietnamese investors must occur on that platform, with unlicensed services being prohibited.
As trading has predominantly occurred on offshore platforms, such as Binance and Bybit, the regulatory shift is expected to bring significant changes to Vietnam’s digital asset landscape. An estimated 17 million Vietnamese citizens currently trade cryptocurrencies, with an annual digital asset transaction volume exceeding $100 billion.
Looking to the future, Star Xu envisions Southeast Asian markets embracing clearer regulatory frameworks for digital asset companies by 2030, asserting that the region is crucial for global crypto liquidity. He remarked that the next phase involves moving these activities into trusted, regulated environments. CAEX is seen as pivotal in shaping the future of regulated platforms in Vietnam.
OKX is committed to fostering the infrastructure for Southeast Asia’s evolving digital asset ecosystem. In recent years, the company has focused on regulatory engagement as a central tenet of its global strategy, obtaining licenses in key jurisdictions, including the United States and Europe. It has also invested significantly in anti-money laundering practices, risk management systems, and adapting to evolving regulatory expectations, reinforcing its belief that sustainable growth derives from regulatory compliance rather than evasion.
