Five Vietnam Firms Apply for Local Crypto Exchange Licenses

Vietnamese companies are actively competing to launch the country’s first licensed cryptocurrency exchanges as the government moves to curb trading on overseas platforms. This initiative aims to regulate one of the world’s most active digital asset markets and tighten oversight on capital flows within Vietnam. According to a government resolution issued in February, Hanoi plans to roll out a pilot scheme for locally run digital asset exchanges as soon as this month. A finance ministry document recently identified five companies that passed an initial qualification round, including affiliates of private banks Techcombank, VPBank, and LPBank, alongside VIX Securities and the conglomerate Sun Group. Sun Group and VPBank have confirmed their applications, while the other three firms did not immediately respond to requests for comment.