According to sources from Vietnamnet, the Ministry of Finance of Vietnam has sent a document to the Ministry of Public Security of Vietnam and the State Bank of Vietnam to seek opinions on the application for the operation permit of the cryptocurrency trading market.
This agency stated that it has received 7 sets of applications for permits under Resolution 05/2025 of the Government of Vietnam regarding the pilot mechanism in Vietnam. After reviewing, 5 applications were deemed complete and passed the preliminary round.
The units include:
• CTCP VIX Cryptocurrency Exchange (VIXEX)
• CTCP Loc Phat Vietnam Cryptocurrency Exchange (LPEX)
• CTCP Vietnam Prosperity Cryptocurrency Exchange (CAEX)
• CTCP Techcom Cryptocurrency Exchange (TCEX)
• CTCP Vietnam Digital Assets
This list shows the participation of many large financial groups in Vietnam.
Notably, CTCP Vietnam Digital Assets has a charter capital of 1,000 billion VND, in which Sun Group holds 64% of the shares.
VIXEX also has a charter capital of 1,000 billion VND and is related to the VIX Securities ecosystem.
CAEX belongs to the VPBank ecosystem and is planning to increase its capital to 10,000 billion VND.
TCEX is backed by the Techcombank ecosystem. LPEX has increased its capital from 6.8 billion to 360 billion VND.
The two companies that did not pass the preliminary round are Dolphinex and SSID due to insufficient documentation.
Dolphinex lacks legal information and has incomplete personnel documentation. SSID was also excluded due to incomplete registration documents and Board of Directors information. Currently, the documents have been transferred to the inter-agency appraisal phase.
Regulatory agencies will check the technology system, operational capacity, and compliance level. The official licensing process still has many strict evaluation steps. Therefore, the race to operate cryptocurrency exchanges in Vietnam has just begun.