Vietnam moves toward launching new virtual asset exchanges…Securities firms and banks step in in earnest

As the Vietnamese government allows pilot operation of virtual assets (cryptocurrencies) exchanges, banks and securities firms in Vietnam are increasingly entering the virtual asset business.

On the 15th (Korea time), according to crypto-specialized media BeInCrypto, Vietnam announced a pilot program allowing issuance, trading, and service provision of virtual assets through "Resolution 05/2025." The resolution includes requirements such as a minimum capital of 1 trillion dong (about 52.6 billion won) and equity participation by banks, securities firms, and technology companies.

A representative company that has formalized its entry into the virtual asset business is SSI Securities. SSI Securities has already established a digital finance subsidiary and has been cooperating with Tether (USDT), Amazon Web Services (AWS), and others. In addition, Techcom Securities (TCBS) has established the "Techcom Virtual Asset Exchange (TCEX)," and VIX Securities has launched the "VIX Securities Virtual Asset Exchange (VIXEX)."

Banks have also actively entered the virtual asset business. Military Bank (MB) has decided to adopt the technology and regulatory response know-how of Korea's virtual asset exchange Upbit. VPBank is preparing to establish a tokenized asset exchange and an initial public offering (IPO) through its subsidiary VPBank Securities.