Why VIX Securities Invested in the VIXEX Crypto Exchange
VIX Securities’ investment in and initiation of VIXEX Exchange (VIX Crypto Asset Exchange) represents a pivotal strategic transition from traditional stock and bond brokerage toward digital assets and emerging financial technologies.
The primary strategic drivers, industry positioning, and commercial rationale behind this investment can be summarized into the following key pillars:
1. Capitalizing on First-Mover Advantage in Vietnam’s Regulatory Sandbox
Unlocking Policy Dividends: With the Vietnamese government issuing Resolution No. 05/2025/NQ-CP (on the pilot operation of the crypto asset market), Vietnam officially permitted compliant entities to establish crypto asset trading platforms for the first time.
Institutional Entry into a Formerly Grey Market: Vietnam has long maintained a massive retail crypto user base, which previously operated in a regulatory grey area. The launch of the sandbox allows traditional brokerages to enter early and secure the initial batch of compliant exchange licenses. As a leading domestic brokerage, VIX Securities directly established VIXEX to secure a market-leading position as compliance gates open.
2. Overcoming Growth Bottlenecks in Traditional Brokerage Business
Unlocking New Revenue Streams: Traditional brokerage revenues (brokerage commissions, proprietary trading, and margin lending interest) are heavily tied to secondary stock market cycles. Crypto asset trading operates 24/7 with higher velocity and turnover, generating lucrative trading fees and asset custody revenues.
Synergy and Cross-Selling: Through VIXEX, VIX Securities can transcend traditional stock market demographic limits, attracting tech-savvy young investors and high-net-worth clients interested in Web3 and digital assets, driving bi-directional client traffic between equities and crypto offerings.
3. Positioning for Real-World Asset (RWA) Tokenization & Financial Innovation
On-Chain Tokenization of Traditional Assets: Securities firms excel at asset structuring, liquidity management, and trade matching. As tokenization grows, underlying assets such as bonds, equities, and real estate will progressively migrate on-chain.
Building Future Infrastructure: VIXEX is designed not merely as a retail crypto trading app, but as the foundational digital infrastructure for VIX Securities to support digital securities (Security Tokens) and RWA initiatives in the future.
4. Ecosystem Synergy and Strategic Capital Operations
Strategic Shareholder Consortium: Established in August 2025, Vietnam crypto exchange VIXEX was jointly launched by FTG Vietnam (64.5% stake), 3C Corporation (20.5% stake), and VIX Securities (15% stake). This structure merges technical R&D and cybersecurity capability with the regulatory and capital strengths of a traditional brokerage.
Leveraging a Massive Capital Base: Through aggressive rights offerings and capital expansions, VIX Securities expanded its charter capital to over VND 25.7 trillion. This deep capital pool provides ample capacity to inject funds into VIXEX to satisfy the statutory VND 10 trillion compliance threshold under the pilot rules.
5. Benchmark Competition Against Domestic & International Peers
Major Vietnamese financial groups—including SSI Securities, TCBS (Techcom Securities), and MBBank—are actively preparing their Web3 infrastructure and crypto asset capabilities.
By rapidly establishing VIXEX and pushing through recapitalization, VIX Securities aims to defend its market standing and avoid falling behind in the next generation of fintech and digital finance.