Vietnam Prosperity Digital Asset Exchange Joint Stock Company (CAEX) announced on February 25 its plan to increase its capital 400-fold from the current 25 billion dong to 10,000 billion dong. This move is to meet the requirements for piloting a digital asset exchange.

Regulations stipulate that a company operating a digital asset exchange must possess a minimum capital of 10,000 billion dong. Furthermore, at least 35% of this capital must be held by a minimum of two institutional entities, such as banks, securities companies, fund management companies, insurance companies, or technology enterprises.

CAEX was established last September with an initial charter capital of 25 billion dong. Within its shareholder structure, VPBankS, a subsidiary of VPBank, contributed 2.75 billion dong, representing 11% of the charter capital. The largest shareholder in CAEX is LynkiD Joint Stock Company, which holds 50% of the capital. LynkiD operates in e-commerce, develops a points accumulation and reward redemption platform, and has been VPBank's exclusive loyalty partner since 2022.

CAEX leadership stated that the company has prepared sufficient technological and financial resources to participate in piloting digital asset exchange services in Vietnam.

A VPBank transaction office. Photo: VPB

Vietnam is piloting the digital asset market for 5 years, as per a Government Resolution. Since January 20, the Ministry of Finance began accepting applications for exchange licenses. The ministry stated that about 10 securities companies and banks plan to enter this market once licensed.

Beyond VPBank, several other organizations are also preparing to participate in the pilot digital asset exchange. Earlier this year, MB Chairman Luu Trung Thai stated that the bank plans to enter the digital asset market. Securities companies such as LPBS, SSI, VIX, and TCBS have also contributed capital to establish specialized legal entities for digital assets. According to Deputy Minister Nguyen Duc Chi, Vietnam will have "more than one exchange" to ensure competition, but the number of licenses will be limited to control risks.

Trong Hieu