Vietnam Launches Pilot for Domestic Crypto Exchanges
Analysis based on 9 articles · First reported Mar 17, 2026 · Last updated Mar 17, 2026
The launch of licensed cryptocurrency exchanges in Vietnam is expected to positively impact the domestic financial markets by retaining transaction fees and fostering the growth of the digital economy. It will also lead to a shift of trading activity from overseas platforms like Binance to local ones, potentially reducing capital outflows.
Vietnamese companies are actively competing to launch the country's first licensed cryptocurrency exchanges. This initiative is part of a broader government effort in Vietnam to regulate its highly active crypto market and curb trading on overseas platforms. A pilot scheme for locally run digital asset exchanges is set to roll out soon, with five companies, including affiliates of Vietnam Technological and Commercial Joint Stock Bank, Vietnam Prosperity Joint Stock Commercial Bank, LPBank, VIX Securities Joint Stock Company, and Sun Group, having passed an initial qualification round. Vietnam, ranking fourth globally in crypto adoption, is concerned about uncontrolled capital outflows and is drafting new rules to prohibit its nationals from trading on foreign crypto platforms such as Binance, OKX, and Bybit. The move aims to keep transaction fees within the country and support the development of Vietnam's digital financial services industry, despite the current incomplete legal framework for supervision, taxation, and risk management.
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