Two Crypto Exchanges Hit 10T VND Market Cap: Where Do the Other Three Stand?
CAEX and SCEX have increased their charter capital to VND 10,000 billion, meeting the minimum capital threshold for businesses applying for licenses to operate cryptocurrency trading markets in Vietnam. Meanwhile, VIXEX, TCEX, and Vietnam Digital Asset Joint Stock Company still have a significant gap to meet this requirement.
CAEX and SCEX achieve their capital target of 10,000 billion VND.
The race to establish cryptocurrency exchanges in Vietnam has just seen another company meet the minimum capital requirement. On October 14th, Sacom Cryptocurrency Exchange Joint Stock Company (SCEX) announced an increase in its charter capital from VND 5,000 billion to VND 10,000 billion. The entire increase comes from domestic private capital sources; no foreign investors participated in this issuance.
Prior to SCEX, Vietnam Prosperity Crypto Asset Exchange Joint Stock Company (CAEX) completed a capital increase to VND 10,000 billion in April 2026. The company, part of the VPBank ecosystem, received investment from OKX Ventures and HashKey Capital, in addition to its founding shareholders VPBank Securities and LynkiD.
Thus, CAEX and SCEX are currently two of the five businesses with valid applications in the initial evaluation round that have reached the charter capital threshold of VND 10,000 billion. This is the minimum capital level within the framework of the pilot cryptocurrency market in Vietnam, as stipulated in Resolution 05/2025/NQ-CP.
However, fulfilling the capital requirements does not automatically guarantee a license to operate the exchange. Businesses must still meet all other requirements related to legal documentation, personnel, technological infrastructure, system security, and other regulations.
The remaining three candidates are still far from the minimum capital threshold.
Among the five companies assessed as having valid applications, VIXEX and Vietnam Digital Asset Joint Stock Company have charter capital of VND 1,000 billion, equivalent to 10% of the minimum capital threshold. Meanwhile, TCEX has the lowest charter capital in the group at VND 101 billion.
Specifically, VIX Crypto Asset Exchange Joint Stock Company (VIXEX) was established with a charter capital of VND 1,000 billion. The company includes VIX Securities, FTG Vietnam, and 3C Computer – Communications – Control Company. Previously, VIXEX had planned to raise additional capital to support the development of its cryptocurrency exchange platform. However, there is no confirmation that the company has completed raising its capital to VND 10,000 billion.
Vietnam Digital Assets Joint Stock Company also started with a charter capital of 1,000 billion VND. Sun Group is the largest shareholder, alongside PetroVietnam Securities Company and a business operating in the information technology sector. To date, there is no public information confirming whether the company has reached its capital target of 10,000 billion VND.
Meanwhile, Techcom Crypto Asset Exchange Joint Stock Company (TCEX) has a charter capital of 101 billion VND. The company was established with the participation of Mr. Nguyen Xuan Minh, Techcom Securities and Techcom Fund Management Company. Although it has passed the initial application review and announced its technological preparations, TCEX still needs to supplement significant financial resources to meet the minimum capital requirements.
As of October 15, 2026, the capital structure of the five candidates shows a clear divergence. CAEX and SCEX have reached the 10,000 billion VND mark, while the remaining three companies still need to further improve their financial capacity.
In the next phase, the progress of capital raising will be one of the key factors in the race to obtain a cryptocurrency exchange license. However, registered capital is only one part of the licensing requirements; the ability to meet requirements regarding governance, technology, security, and operations will also determine whether a business can participate in the pilot market.（Vietnam Crypto Exchange）