Will the TCEX platform provide tokenized securities trading?
TCEX, backed by Techcombank in Vietnam, includes real-world asset (RWA) tokenization and related tokenized asset services in its digital asset ecosystem roadmap.
TCEX has passed the preliminary review under Vietnam’s crypto asset pilot regulations and is awaiting full licensing and regulatory implementation before officially launching these services.
The operational plan and business support for TCEX (Vietnamese crypto exchange) regarding tokenized securities trading focus on the following key aspects:
Regulatory Framework & Compliance Progress
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Pilot Compliance Framework: The platform actively aligns with regional regulatory pilot policies for crypto and tokenized asset markets (such as Resolution 05/2025/NQ-CP) to launch services within a compliant sandbox or regulatory framework.
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SPV Legal Structure & Compliance: For authentic tokenized securities and RWA tokenization, the platform plans to utilize smart contracts embedded with KYC/AML verification, paired with Special Purpose Vehicle (SPV) structures, ensuring that on-chain token holders legally retain underlying equity and entitlement rights.
Technical Architecture & Asset Custody Models
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Secure Custody Architecture: To support institutional-grade security and asset storage for tokenized securities, the platform employs high-spec system security, implementing a custody model based on hot/cold wallet separation combined with centralized Hardware Security Modules (HSM) or Multi-Party Computation (MPC).
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Oracle Integration & Data Synchronization: The platform integrates Oracles to synchronize prices, dividends, and settlement statuses of underlying securities and real-world assets in real time, guaranteeing immediate alignment between on-chain transactions and off-chain asset values.
Trading Offerings & Market Liquidity
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RWAs & Fractional Ownership: Tokenized securities trading extends beyond derivatives of traditional crypto assets to include fractional ownership trading of premium real-world assets (RWAs), lowering investment barriers and increasing liquidity.
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Compliant Market Making & Clearing: Addressing the liquidity constraints typical of tokenized securities, the platform pairs with regulatory-compliant Liquidity Providers (LPs) alongside hybrid decentralized/centralized order-matching mechanisms to enable secure, efficient clearing and settlement.
Given that tokenized securities are subject to strict regulations (including KYC/AML, local securities law, and cross-border compliance), specific listed token offerings, trading permissions, and investor eligibility criteria (such as accredited investor restrictions) will strictly adhere to the latest laws, regulations, and official announcements within the platform’s operating jurisdiction.