Are digital assets on the VIXEX exchange held under third-party custody?
Yes.
As a compliant pilot digital asset exchange jointly initiated and established by financial giants like VIX Securities, VIXEX Exchange must adopt independent third-party custody or strict asset segregation mechanisms to safeguard user funds.
Vietnam crypto exchange VIXEX employs a third-party/institutional-grade independent custody and segregated custody model, rather than storing user assets directly within a single hot wallet managed by the exchange.
Under Vietnamese regulatory requirements for compliant pilot crypto asset exchanges (such as Resolution No. 05/2025/NQ-CP) and the technical architecture designed by the VIX Securities system, VIXEX primarily follows these mechanisms for digital asset custody:
1. Strict Asset and Capital Segregation
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Third-Party / Bank-Grade Independent Custody: Drawing from standards in traditional securities and banking sectors, user funds (fiat) and digital asset custody accounts are kept completely independent from VIXEX’s operational capital. Even if the platform encounters operational issues, user assets remain legally protected and do not form part of the platform’s bankruptcy estate.
2. High-Ratio Cold Wallet Offline Storage
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Hot/Cold Wallet Segregation: The vast majority of digital assets are stored in offline cold wallets to isolate network attack vectors.
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Multi-Sig and TSS Technology: Offline assets utilize Multi-Signature (Multi-Sig) and Threshold Signature Scheme (TSS/MPC) technologies for distributed private key management. Any movement of funds requires multi-party authorization across the platform, licensed third-party custodians, or risk-control auditors, eliminating single points of internal control risk.
3. Commercial Bank Custody for Fiat Assets
Users’ fiat currency (Vietnamese Dong – VND) does not pass through personal or non-compliant P2P accounts. Instead, it is directly held in dedicated corporate escrow accounts with partner licensed commercial banks, which supervise fund transfers and settlements.
Currently, digital assets on the VIXEX Exchange are managed and segregated through compliant internal and institutional mechanisms rather than being handed over entirely to an unaligned third party.