On 24/9, during a working visit to the UAE, standing Deputy Prime Minister Nguyen Hoa Binh met with the CEO of Binance, the world's leading digital asset trading platform.
He invited Binance to open a headquarters in Da Nang and partner with Vietnam's international financial center to launch a cryptocurrency exchange. He also invited Binance CEO Richard Teng to serve as a senior advisor for the development of Vietnam's international financial center.
Mr. Richard Teng agreed to share his expertise and collaborate on the development of the cryptocurrency market and the International Financial Center in Vietnam.
The deputy prime minister also witnessed the signing of a memorandum of understanding (MOU) for cooperation in blockchain technology and digital assets between Binance and the People's Committee of Da Nang.
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Standing Deputy Prime Minister Nguyen Hoa Binh receives Binance CEO. Photo: VGP |
Standing Deputy Prime Minister Nguyen Hoa Binh receives Binance CEO. Photo: VGP
Vietnam is in the process of establishing international financial centers in Da Nang and Ho Chi Minh City. Da Nang is slated to implement a regulatory sandbox for new financial models like digital assets, cryptocurrencies, and digital payment and transfer solutions, as well as permitting the establishment of new exchanges and trading platforms.
According to Government Resolution 5, Vietnam will pilot the cryptocurrency market for 5 years. Businesses that meet capital, organizational structure, and other requirements will be granted licenses to provide exchange services. Several businesses, including CAEX, TCEX, and VIXEX, are currently preparing to establish digital asset exchanges. MB, VPBank, and SSI are also looking to participate.
In addition to Binance, Deputy Prime Minister Nguyen Hoa Binh also met with leaders from Bybit, a company with over 2.5 million users in Vietnam (about 15% of the market) and the largest cryptocurrency exchange in the UAE.
Bybit's CEO welcomed Vietnam's direction on piloting digital assets and building an international financial center. Bybit affirmed its readiness to support the development of a legal framework, share international experience, and participate in workforce training for Vietnam.
Meeting with standing Deputy Prime Minister Nguyen Hoa Binh, representatives from Emaar Properties, a leading real estate group present in 15 countries, expressed their interest in investment opportunities in Vietnam. The deputy prime minister confirmed that the Vietnamese government encourages Emaar to invest directly or indirectly through the international financial center.
Phuong Dung
