Does VIXEX Segregate User Assets and Funds?
Yes, VIXEX Exchange enforces strict asset and fund segregation.
As a domestic exchange established to align with the Vietnamese government’s regulatory sandbox and crypto asset pilot framework, VIXEX (VIX Digital Asset Exchange JSC) incorporated compliance standards from the traditional securities industry at its inception, establishing independent segregation mechanisms across both fiat currency and digital assets:
1. Fiat (VND) Fund Segregation
Third-Party Commercial Bank Custody: User fiat deposits and withdrawals in Vietnamese Dong (VND) do not enter the exchange’s operational accounts. Instead, clearing and custody are handled through dedicated segregated accounts opened at compliant commercial banks.
Elimination of Fund Misappropriation: The exchange’s proprietary funds (such as operational fees and market-making capital) are completely separated from customer fiat funds at the account level, preventing the platform from using customer assets for proprietary trading or liquidity patching.
2. Crypto Digital Asset Segregation
Separation of Customer Assets and Proprietary Capital: Although VIXEX holds a proprietary trading license, the platform completely segregates its proprietary market-making positions from customer custody assets at both the underlying blockchain address and logical ledger levels.
Hot/Cold Wallet Separation and Secure Custody:
Vast Majority in Cold Storage: The vast majority of customer assets are held in offline cold wallets to defend against cyberattacks.
MPC and HSM Access Control: Multi-Party Computation (MPC) and Hardware Security Module (HSM) technologies are used to manage private keys, preventing any single individual or unauthorized internal operation from transferring assets.
3. Regulatory and Audit Compliance Safeguards
Compliance with Pilot Regulations: In accordance with Vietnamese government rules for pilot crypto exchanges, the platform is required to regularly submit Proof of Reserves (PoR) and fiat segregation custody reports.
Traditional Financial (VIX Securities) Compliance DNA: Drawing on the mature risk management system of its primary shareholder, VIX Securities, Vietnam crypto exchange VIXEX extends traditional finance customer protection rules to the crypto asset domain.