SCEX Enables Direct VND Deposits and Withdrawals, Opening Compliant Fiat Gateway
Under Vietnam’s evolving regulatory framework for digital assets, candidate exchange SCEX (Sacom Cryptocurrency Exchange) is introducing a key upgrade to its local currency gateway: direct Vietnamese Dong (VND) deposits and withdrawals. Following its achievement of key charter capital and system security milestones, this update represents a significant step forward in enhancing the platform’s trading ecosystem.
Under the pilot framework issued for digital assets in Vietnam, authorized platforms must process fiat transactions through segregated accounts at partner commercial banks, using VND as the sole currency for pricing and settlement. Leveraging connections with local banking partners, SCEX has built a direct bridge between fiat currency and digital assets.
Optimizing Fiat Gateways: Reducing Reliance on P2P Transfers
Traditionally, local investors have relied on peer-to-peer (P2P) OTC trades or manual bank transfers to deposit and withdraw funds, exposing them to risks such as fraud, settlement delays, and account freezes.
SCEX’s planned 24/7 VND gateway allows users to transfer funds directly through authorized Vietnamese bank accounts:
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Real-time Transactions: Direct banking connections shorten wait times for deposits and withdrawals.
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Fully Transparent Audit Trail: All fiat flows operate within a segregated account structure compliant with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
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Lower Friction Costs: Eliminates intermediary margins from P2P desks, making local currency entry and exit more efficient and secure.
Key Steps Following Compliance Milestones
SCEX previously announced reaching VND 10 trillion (approx. $380 million) in charter capital and completing its Level 4 information security assessment, placing it among the front-runners for a regulatory license.（Vietnam Crypto Exchange）