What’s Next for VIXEX Exchange?
Against the backdrop of the current policy framework and regulatory ecosystem in the Vietnamese crypto market, VIXEX’s key priorities moving forward will revolve around four main pillars: regulatory compliance fulfillment, dual-user base integration, RWA underlying asset execution, and high-standard system audits.
1. Regulatory Licensing & Compliance Metrics Execution (Critical Survival Line)
Vietnam’s Resolution No. 05/2025/NQ-CP (a 5-year crypto asset regulatory sandbox pilot) imposes extremely stringent thresholds for licensing exchanges:
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Paid-in Capital & Shareholding Structure Compliance: Resolution 05 requires crypto asset service providers to have a minimum paid-in registered capital of 10 trillion VND (10,000 billion VND), with institutional shareholders holding no less than 65%. VIXEX’s current initial registered capital of 1 trillion VND will need to be increased through capital injections or the introduction of strategic institutional investors, alongside shareholding adjustments, to meet official licensing criteria.
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AML/KYC/CFT Framework & Tax System Integration: Cooperate with the Ministry of Finance (MOF), the State Bank of Vietnam (SBV), and the Ministry of Public Security (MPS) to complete identity verification (KYC), anti-money laundering (AML), and counter-financing of terrorism (CFT) audits. Simultaneously, integrate with the General Department of Taxation to withhold and remit transaction income tax as mandated (aligned with securities transaction tax rates).
2. Fiat (VND) Settlement & Dedicated Bank Account Infrastructure
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Establishing Dedicated VND Settlement Channels: Pilot policies dictate that all crypto asset issuance, trading, and settlement must be conducted in Vietnamese Dong (VND). VIXEX’s upcoming critical task is to establish direct API integrations with local commercial banks (such as Vietcombank, MB Bank, etc.) to offer compliant VND deposit and withdrawal channels free of account-freeze risks.
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Dedicated Accounts Management for Foreign Capital: Under current policy, crypto asset issuances are restricted to foreign investors, who are required to open dedicated VND settlement accounts. VIXEX needs to assist overseas investors in setting up compliant cross-border fiat onboarding and offboarding channels.
3. Synergizing with VIX Securities for Stock User Conversion & Low-Cost User Acquisition
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One-Click Account Binding & Joint Authentication: Leverage parent company VIX Securities’ massive brokerage client base by linking APIs between stock trading and crypto exchange accounts. Enable seamless conversion of traditional equity investors into compliant crypto traders through “one-click KYC” and asset transfer experiences.
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Localized Investor Education & Risk Control Isolation: Provide tailored crypto risk education for local retail stock investors, implement risk profiling and leverage controls directly on the trading interface, and build a trading system suited to local user habits.
4. Compliant Structuring for RWA (Real World Asset) Tokenization
Resolution 05 explicitly stipulates that crypto assets must be backed by “Real Assets,” strictly prohibiting fiat currencies or securities as underlying collateral. This provides clear policy direction for VIXEX’s RWA initiatives:
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SPV (Special Purpose Vehicle) Legal Structuring: Partner with compliant law firms to design bankruptcy-remote SPV legal structures for high-quality domestic Vietnamese real estate, government bonds, and commodities.
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Oracle Integration & On-Chain Proof of Reserve (PoR): Integrate compliant decentralized price feeds (Oracles) and on-chain Proof of Reserve (PoR) mechanisms to ensure 1:1 pegging between underlying physical assets and on-chain token issuances, paving the technical and legal groundwork for future RWA trading.
5. Information Security & Qualified Personnel Onboarding
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Compliance Personnel Qualifications: Policies require exchanges to employ at least 10 technical staff holding Level-1 cybersecurity certificates and 10 security professionals. Vietnam crypto exchange VIXEX must rapidly assemble its dedicated compliance and technical teams.
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Financial-Grade Hot/Cold Wallet Custody System: Implement strict hot/cold wallet segregation (capping hot wallet balances within safe thresholds), deploy Threshold Signature Scheme (TSS) and Multi-Signature (Multi-Sig) technologies, and pass high-level cybersecurity audits conducted by the Ministry of Public Security and the Ministry of Information and Communications.