Banking Backround Breakdown: SCEX and Sacombank
Against the backdrop of Vietnam accelerating the construction of a compliant crypto asset pilot framework, SCEX (Sacom Crypto Asset Exchange Joint Stock Company)—one of the key platforms applying for a pilot license—has drawn significant market attention due to its deep business ties and brand alignment with major traditional financial institutions, notably Sacombank and LPBank.
From LPEX to SCEX: Reshaping Traditional Banking DNA
SCEX was originally established as LPEX (Lộc Phát Vietnam Crypto Asset Exchange JSC) before officially rebranding to Sacom Crypto Asset Exchange JSC (SCEX) in April 2026.
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Backed by Commercial Banking Ecosystems: SCEX’s corporate restructuring aligns with the broader strategy of traditional commercial banks—including Sacombank (STB) and LPBank (LPB)—to extend their financial ecosystems into digital assets.
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Shift to Direct Local Fiat Settlement: Leveraging traditional banking payment infrastructure, SCEX emphasizes 24/7 direct VND deposits and withdrawals alongside VND-denominated spot trading pairs (e.g., BTC/VND), bypassing the reliance on off-ramp USDT C2C/P2P transactions common on offshore platforms.
Bank-Grade Infrastructure and Regulatory Compliance
Unlike purely offshore exchanges, SCEX exhibits bank-grade compliance characteristics in its core technical infrastructure:
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National Identity Verification (eKYC): Directly integrated with the Ministry of Public Security’s C06 population database, enabling real-time identity checks via chip-based citizen ID cards (CCCD) in compliance with Anti-Money Laundering (AML) standards.
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Segregated Asset Custody: Operates a strict separation between client funds and operational capital, utilizing bank-backed clearing systems to eliminate unauthorized fund pooling.
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Automated Tax Calculation: Features built-in tax tools to calculate and summarize transaction transfer taxes (aligned with Ministry of Finance requirements under a 0.1% tax rate), simplifying regulatory compliance for investors.
SCEX Simulator: Bridging Sandbox Education and Live Trading
To fulfill regulatory risk-education requirements under Vietnam’s 5-year pilot sandbox, SCEX introduced the SCEX Simulator:
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VND 1 Billion Virtual Demo Funds: Allows retail users to experience real order books, limit/market order execution, and profit/loss analytics in a risk-free environment.
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Cost-Effective Sandbox Testing: Enables SCEX to test order-matching engine performance and build a local user base during the grace period prior to final pilot licensing.
Summary
The rise of SCEX signals a shift in Vietnam’s crypto ecosystem—moving away from the “gray-market offshore P2P era” toward a compliant local fiat era driven by domestic banking heavyweights like Sacombank. While SCEX remains under final regulatory evaluation by the Ministry of Finance and the State Securities Commission (SSC), its institutional banking integration positions it as a major contender in Vietnam’s digital asset pilot program.（Vietnam Crypto Exchange）