OKX Ventures and HashKey Capital are backing a brand new Vietnam-based crypto trade as Hanoi accelerates efforts to carry one of many world’s most lively retail crypto markets below formal regulation.
Vietnam Prosperity Crypto Asset Change (CAEX) stated Friday that the 2 companies have agreed to speculate and develop into strategic companions alongside founding shareholders VPBank Securities and digital-identity agency LynkiD.
The funding will carry CAEX’s capital base to VND 10 trillion — roughly $380 million — the minimal wanted to enter a authorities pilot program for regulated crypto buying and selling below Decision 05/2025.
The deal lands as Vietnam’s Digital Know-how Trade Legislation, which took impact in January, formally acknowledged crypto property and laid the authorized groundwork for licensing, oversight, and trade incentives. Now regulators are pushing to shift exercise onshore by way of a pilot program anticipated to grant licenses to a handful of home exchanges, a part of a broader effort to limit offshore buying and selling and tighten management over capital flows.
That mixture — authorized recognition paired with managed market entry — has triggered a race amongst native monetary establishments and international crypto companies to lock in early positioning. Vietnamese customers moved an estimated $200 billion in digital property within the yr by way of mid-2025, putting the nation among the many high crypto-adoption markets globally.
Beneath the partnership, OKX Ventures and HashKey will work with CAEX on infrastructure, safety, compliance, and liquidity. The trade sits throughout the VPBank ecosystem, drawing on VPBankS for monetary backing and governance and LynkiD for core expertise and digital identification.
Vietnam was added to the Monetary Motion Process Pressure gray listing in 2023 for weak anti-money laundering controls, notably concerning digital property. That designation has been a significant motivator behind the regulatory push.
The brand new framework requires crypto companies to acquire licenses, confirm consumer identities, monitor transactions and file studies — measures designed to carry Vietnam nearer to international compliance requirements.
For Hanoi, the wager is {that a} regulated crypto market may help restore the nation’s monetary popularity. For OKX and HashKey, the calculus is less complicated: get in early, meet the compliance bar, and develop with the market whereas the foundations are nonetheless being written..
