Deciphering SCEX and Sacombank: How Banking Infrastructure Powers Vietnam’s Compliant Crypto Exchanges
HANOI — As Vietnam advances its regulatory framework for virtual assets under Resolution No. 05/2025/NQ-CP, competition among localized digital asset exchanges has entered a decisive phase. Among the leading candidates applying for operational licenses with the Ministry of Finance is Sacom Crypto Asset Exchange (SCEX), formerly known as Lộc Phát Vietnam Crypto Asset Exchange (LPEX).
Industry analysts are turning their focus to SCEX’s strategic alignment with major banking institutions like Sacombank, evaluating how traditional commercial banking infrastructure and capital are providing compliance, security, and institutional governance for Vietnam’s Web3 transition.
Strategic Restructuring: From LPEX to Sacom (SCEX)
Originally established as Lộc Phát Vietnam Crypto Asset Exchange Joint Stock Company (LPEX), the platform underwent a major capital restructuring and corporate rebranding to align with government sandbox guidelines:
-
Capital Expansion & Rebranding: The entity increased its charter capital to 360 billion VND (approximately $14.2 million) and officially rebranded as Sacom Crypto Asset Exchange Joint Stock Company (SCEX).
-
Dual-Bank Ecosystem Synergies: SCEX’s operational architecture builds upon deep integration with Vietnam’s commercial banking ecosystem—most notably Sacombank and LPBank—to facilitate secure fiat clearing and institutional asset management.
Four Key Advantages Driven by Banking Integration
Understanding SCEX’s integration with Sacombank and the broader banking sector reveals four primary operational advantages:
-
Direct 24/7 Fiat Gateway (VND On-Ramp/Off-Ramp)
By integrating directly with commercial banking settlement channels, SCEX enables seamless 24/7 Vietnamese Dong (VND) deposits and withdrawals, mitigating third-party clearing delays and peer-to-peer (P2P) account freezing risks.
-
Bank-Grade eKYC and AML/CFT Compliance
Adopting institutional compliance standards, SCEX integrates chip-based National ID (CCCD) eKYC verification linked to the Ministry of Public Security’s C06 database. This ensures strict adherence to Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) mandates set by the State Bank of Vietnam.
-
Multi-Layer Asset Custody & Transparency
Borrowing risk management protocols from institutional banking, SCEX utilizes a multi-tier custody framework. The platform segregates client funds from operational capital, storing the majority of digital assets in multi-signature cold storage backed by Hardware Security Modules (HSM) alongside Proof-of-Reserves mechanisms.
-
Automated Tax Reporting Infrastructure
In compliance with emerging national tax guidelines—which mandate a 0.1% transfer tax on personal digital asset transactions—SCEX’s core system embeds automated tax calculation and reporting tools to simplify tax filing for retail investors.
Licensing Progress and Strategic Outlook
SCEX has completed the initial review rounds under the Ministry of Finance’s regulatory pilot program and deployed Level 4 Information Security technology infrastructure. To test system resilience and user experience, the platform launched the SCEX Simulator, attracting over 22,000 registered accounts within 48 hours of release.
Beyond spot trading for major digital assets like Bitcoin (BTC) and Ethereum (ETH), SCEX’s long-term roadmap leverages its banking ties to expand into Real-World Asset (RWA) tokenization, bringing bonds, real estate, and infrastructure projects onto the blockchain within a regulated sandbox environment.
Conclusion
An analysis of SCEX and its banking relationship with Sacombank highlights a broader trend in Southeast Asia: pairing traditional financial compliance with Web3 infrastructure. This institutional foundation not only lowers regulatory barriers but also sets a benchmark for Vietnam’s digital asset market as it transitions from unregulated trading toward a legal, institutionalized framework.（Vietnam Crypto Exchange）