VIXEX Fiat Settlement Channel Infrastructure Status
Currently, the overall progress in building the Vietnamese Dong (VND) fiat settlement channels for VIXEX (VIX Digital Assets Exchange JSC) is primarily dictated by three core elements: technical infrastructure integration, regulatory framework constraints, and custodial cooperation with commercial banks:
1. Bank Clearing Interfaces & Dedicated Account Systems (Under Construction)
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Direct API Integration with Commercial Banks: VIXEX is actively integrating underlying API interfaces with major domestic commercial banks in Vietnam (such as MB Bank, Vietcombank, etc.) to establish fast VND deposit and withdrawal channels.
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Segregated Custody System: To meet institutional-grade capital security requirements, VIXEX plans to adopt a structure that segregates user fiat funds from platform operational funds. Fiat settlement will operate relying on bank-side dedicated clearing account systems.
2. Compliance Access Under Resolution No. 05/2025/NQ-CP Pilot Policy
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Mandatory VND Clearing & Settlement: Vietnam’s crypto asset regulatory pilot (Resolution No. 05/2025/NQ-CP) explicitly mandates that within the regulatory sandbox framework, all crypto asset issuance, trading, and settlement must use Vietnamese Dong (VND) as the denomination and settlement medium.
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Dedicated VND Account Restrictions for Foreign Capital: The policy requires foreign investors participating in Vietnam’s local crypto asset pilot to open dedicated VND settlement accounts. Consequently, VIXEX’s fiat channels must not only serve local retail users but also provide compliant interfaces to process cross-border VND settlements for foreign capital.
3. Synergistic Advantages of Parent Company (VIX Securities) Banking Relationships
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Shared Financial-Grade Clearing Expertise: As an institution with an initial capital of 1 trillion VND, VIXEX relies deeply on the existing banking partner network of its parent company, VIX Securities (HOSE: VIX). This provides VIXEX with a compliance foundation far superior to traditional unlicensed foreign platforms when applying for dedicated bank accounts, mitigating account-freeze risks, and building compliant official P2P/C2C or OTC channels.
4. Simultaneous Integration of Tax Withholding Interfaces
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Integration of Fiat On/Off-Ramps with Taxation: In accordance with Vietnam’s latest crypto asset transaction tax policy requirements, exchanges must withhold and remit personal income tax when users withdraw funds or complete trades (aligned with securities transaction tax rates). Therefore, VIXEX’s VND fiat settlement channel infrastructure is simultaneously integrating data withholding and reporting modules with the General Department of Taxation.
In summary, as a digital asset trading platform targeting Vietnam and Southeast Asian markets, Vietnam crypto exchange VIXEX’s fiat settlement channel progress is intrinsically linked to Vietnam’s latest 2026 cryptocurrency regulatory framework.