The race to license digital asset exchanges in Vietnam is reaching a decisive stage
Many businesses have completed key requirements, bringing the digital asset trading market in Vietnam closer to the pilot phase, which is expected to begin in the near future.
The digital asset market in Vietnam is moving closer to the pilot phase, with many businesses having met key requirements regarding capital, shareholder structure, and information system security. If the licensing process proceeds as planned, the first cryptocurrency exchanges could appear as early as 2026.
According to Resolution 05/2025/NQ-CP, cryptocurrency trading in Vietnam will be implemented under a controlled pilot mechanism. To participate in this program, businesses must meet a series of strict standards, including requirements for charter capital, shareholder structure, financial capacity, and information system security.
As of early November 2026, five companies were recognized as having valid registration documents: VIXEX, Vietnam Digital Asset Joint Stock Company, CAEX, SCEX, and TCEX. These entities are aiming to become the first licensed cryptocurrency trading service providers in Vietnam.
SCEX is one of the rare exchanges that allows investors to experience its application.
One notable step forward occurred in late October when CAEX, SCEX, and TCEX respectively announced the completion of their Level 4 information system security assessments. This is a crucial standard for exchange operational infrastructure, encompassing trading systems, asset custody, security key management, monitoring, and incident handling.
Regarding financial capacity, CAEX and SCEX have announced the completion of contributing the full 10,000 billion VND of charter capital. Meeting the capital and information security requirements allows these businesses to take another step in the process of preparing their license applications. According to the procedures issued in Decision 96/QD-BTC, after fulfilling the necessary conditions, the businesses’ applications will be further reviewed with the participation of the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam before being considered for licensing.
CAEX is the first exchange to meet the capital requirement of 10 trillion VND.
A representative from a company involved in the preparation process stated that they expect to receive their operating license before the end of 2026. However, the official date still depends on the progress of the assessment and the extent to which they meet the requirements of the regulatory authorities.
Meanwhile, a representative from the State Securities Commission stated that the implementation process could extend until May 2027. This is considered the final deadline for the preparation phase, starting in May 2026, for businesses to fulfill the required conditions.
The establishment of a cryptocurrency trading market is expected to bring the buying and selling of cryptocurrencies under formal regulation, while also enhancing investor protection and controlling related risks.
According to published data, the volume of digital asset transactions in Vietnam is estimated to reach approximately US$220 billion in 2025. This figure indicates that the demand for market participation remains high, while also highlighting the urgent need for a transparent trading system with clear monitoring mechanisms and security standards.
The emergence of licensed exchanges will mark a significant shift for the domestic digital asset market, moving from primarily operating on international platforms to a domestically regulated model. However, the race is only in its final stages and does not yet mean that businesses have officially been granted operating licenses.（Vietnam Crypto Exchange）