Four-Stage Leap in a Year: SCEX’s Capital Expansion Roadmap
As competition in Vietnam’s regulated crypto-asset market pilot heats up, Sacom Crypto Asset Exchange Joint Stock Company (SCEX)—formerly known as LPEX—has cleared back-to-back compliance milestones. Since its incorporation in late September 2025, the platform has executed four consecutive charter capital hikes in just over a year, officially crossing Vietnam’s mandatory VND 10 trillion (approximately $383 million) capital threshold. The move makes SCEX the second crypto exchange pilot candidate in the country to hit the benchmark, trailing only VPBank-backed CAEX. Simultaneously, SCEX has secured Level 4 information system security clearance overseen by Vietnam’s Ministry of Public Security, placing the platform in the front-running tier across both capital and technical compliance.
Four-Phase Expansion From VND 6.8 Billion to VND 10 Trillion
Public corporate filings show that SCEX’s rapid capitalization has closely tracked Vietnam’s regulatory rollout for digital assets, advancing in four distinct stages:
| Milestone Stage | Timeline | Registered Charter Capital | Key Developments & Regulatory Context |
| Phase 1: Incorporation | Sept. 30, 2025 | VND 6.8 billion | Registered as LPEX just three weeks after the Vietnamese government issued Resolution No. 05/2025/NQ-CP (Sept. 9). |
| Phase 2: Initial Scaling | February 2026 | VND 360 billion | Expanded charter capital more than 50-fold, followed by a formal rebrand to Sacom Crypto Asset Exchange Joint Stock Company (SCEX) in late April. |
| Phase 3: Trillion-Dong Tier | Late August 2026 | VND 5 trillion | Raised capital to VND 5,000 billion, entering the core group of initial pilot applicants. |
| Phase 4: Regulatory Threshold | Mid-October 2026 | VND 10 trillion | Doubled registered capital to VND 10,000 billion, meeting the statutory capital requirement for a pilot exchange license. |
Dual Compliance Milestone: Passing Level 4 Information System Security Assessment
Alongside its four-stage capital expansion, SCEX has achieved a critical breakthrough on the technical compliance front. According to regulatory disclosures, on October 22, 2026, SCEX’s information system security protection plan officially passed inspection by the Department of Cybersecurity and High-Tech Crime Prevention (A05) under Vietnam’s Ministry of Public Security, earning Level 4 information system security certification—the second-highest tier under Vietnam’s five-level national cybersecurity framework and a mandatory statutory prerequisite for crypto trading platforms.
According to technical architecture details disclosed by the platform, SCEX completed its core infrastructure and segregated hot-and-cold wallet custody framework in mid-June 2026, followed by multiple rounds of stress testing. Key features include:
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Multi-Layer Offline Custody & Hardware Encryption: The vast majority of user digital assets are stored in air-gapped offline cold wallets, fortified by Hardware Security Modules (HSM) and multi-signature (Multisig) protocols to eliminate single-point private key risks.
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Segregated Trading and Custody Architecture: The core matching engine and asset custody systems are logically isolated at both network and storage levels, integrated with real-time anomaly detection and anti-money laundering (AML) monitoring systems to meet market transparency mandates under Resolution No. 05/2025/NQ-CP.
Beyond Paper Capital and Security Clearance: How Close Is the Official Launch?
SCEX’s aggressive capital and infrastructure push stems directly from Resolution No. 05/2025/NQ-CP, promulgated in September 2025 to launch Vietnam’s five-year digital asset market pilot program (2025–2030). The resolution requires prospective exchange operators to maintain a minimum paid-in charter capital of VND 10 trillion (contributed entirely in Vietnamese dong) and caps foreign ownership at 49%. Among the pilot applicants that have passed initial dossier screening, CAEX (associated with VPBank), SCEX (associated with Sacombank), and TCEX have now successively cleared Level 4 information system security assessments.
However, industry analysts caution that meeting registered capital benchmarks and passing Level 4 security reviews represent only an entry ticket to the final licensing sprint. Before the Ministry of Finance (MoF) grants an official operating license, SCEX must still undergo final verification of full paid-in capital contribution for the VND 10 trillion, qualification vetting for senior executives and certified cybersecurity personnel, and integration with licensed domestic banks for segregated Vietnamese dong (VND) settlement. The State Securities Commission of Vietnam (SSC) has instructed all pilot candidates to complete their final application dossiers no later than May 2027, as market participants closely watch for the official launch timeline of Vietnam’s first licensed crypto exchanges.（Vietnam Crypto Exchange）