Current Binding Status of VIX Securities and VIXEX Crypto Exchange
VIX Securities and VIXEX (VIX Tokenized Assets / Crypto Exchange) share a direct, deep integration in both equity ownership and business operations.
VIXEX is not a typical offshore, unregulated crypto exchange; rather, it is a core ecosystem platform deeply backed, invested in, and incubated by VIX Securities—one of Vietnam’s top brokerage firms—under the Vietnamese government’s digital transformation initiatives and compliant tokenized asset pilot policies.
The current binding status, equity structure, and synergistic strategy between VIX Securities and VIXEX are as follows:
1. Equity Control and Capital Injection
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Initial Incorporation & Equity Tie-up: VIXEX was established in August 2025 with an initial registered capital of VND 1 trillion. As a key founder and strategic shareholder, VIX Securities directly contributed VND 150 billion, holding a 15% initial stake in VIXEX.
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Follow-on Capital Increase for Compliance: Under Resolution No. 05/2025/NQ-CP regarding Vietnam’s regulatory pilot for digital/tokenized asset exchanges, the minimum capital requirement for licensed exchanges was raised to VND 10 trillion. To maintain its 15% equity stake and core strategic status, VIX Securities plans to inject an additional VND 1.35 trillion into VIXEX (VND 1 trillion raised from recent capital hikes and VND 350 billion from self-funded capital).
2. Regulatory Pilot & Business Positioning
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Flagship Representative for Vietnam’s RWA & Digital Asset Pilot: VIXEX has been selected to participate in the Vietnamese government’s pilot program for “Tokenized Asset Trading Platforms.”
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Clear Division of Responsibilities:
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VIX Securities: Handles traditional securities brokerage, proprietary trading, investment banking underwriting, as well as compliant structuring (SPV Legal Structure) and underlying asset selection for traditional RWAs (Real World Assets, such as real estate and bonds).
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Vietnam crypto exchange VIXEX: Acts as the on-chain trading platform, executing technical and trading functions including RWA tokenization, fractional ownership splitting, cold and hot wallet custody, and Oracle price feed integration.
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3. Synergistic Advantages & Potential Challenges
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Unified User Base & Capital Pool: Leveraging its traditional investor base of millions as a leading Vietnamese brokerage, VIX Securities provides VIXEX with compliant fiat onboarding channels and high-net-worth client flows. Conversely, VIXEX’s innovative tokenized financial products strengthen VIX Securities’ competitive moat in fintech.
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Compliance & Capital Pressures: VIXEX must complete its capital expansion from VND 1 trillion to VND 10 trillion within the mandated timeframe, posing high demands on major shareholders like VIX Securities for follow-on funding and regulatory approvals.