The Vietnamese digital asset market is about to enter a historic phase with the establishment of the first cryptocurrency exchange. At the forum “Digital Asset Market: From Trends to Breakthroughs,” Mr. Tô Trần Hòa (head of the State Securities Commission) affirmed that Resolution 05/2025/NQ-CP has laid an important legal foundation for the market's development. According to him, operating an exchange requires thorough preparation in technology, system security, and risk management. It is expected that by Q1 2026, the first Crypto exchange in Vietnam will officially go into operation, marking a significant step to help Vietnam catch up with the global trend in digital finance.

Right after the resolution was passed, a series of banks and securities companies announced their plans to join. In the banking sector, notable mentions include HDBank with HDEX, VPBank with CAEX, Techcombank with TCEX, LPBank with LPEX, and especially MBBank partnering with Upbit (one of the three largest exchanges in the world) to develop a common platform. In the securities sector, SSI with SSID, VIX with VIXEX, HVA with DNEX, and Vimedimex with Vimexchange (with a charter capital of 10,000 billion VND) have all established legal entities. The large capital contributions and the simultaneous participation of leading financial institutions demonstrate the determination and excitement surrounding this new endeavor.

Notably, many banks chose to cooperate with foreign partners to leverage technology and operational experience. MBBank signed an agreement with Dunamu (the operator of Upbit in South Korea) to transfer technology and jointly build investor protection mechanisms. Techcombank, through TCBS, quickly increased capital for TCEX, while SSI Digital collaborated with Tether, U2U Network, and Amazon Web Services to build blockchain infrastructure and cloud computing. These moves not only help Vietnamese organizations shorten the gap with the world but also lay the foundation for a sustainable digital financial ecosystem.

Globally, the crypto market has seen good growth since the beginning of 2025 after the US changed its policy towards openness under President Donald Trump. Singapore and South Korea have become models for transparent and safe exchange management, attracting international capital flows. With the advantage of a young population and a high rate of technology usage, Vietnam is expected to become a leading Crypto hub in Asia.