Binance and the prospect of Vietnam's digital asset market: Opportunities and challenges

On the afternoon of August 23, at the Ho Chi Minh City Financial Technology Summit 2025 co-organized by the Ho Chi Minh City Department of Science and Technology, the Center for Creative Startups (Sihub) and Binance, many experts and businesses in the field of blockchain - digital assets shared about the prospects of the Vietnamese market.

The digital asset market is full of potential but full of challenges

Dr. Nguyen Thanh Binh (RMIT University Vietnam) said that Vietnam is one of the most dynamic countries in developing digital assets.

Specifically, since the 2017-2018 period, the domestic programming team has created the world's first decentralized exchange and many GameFi products (a combination of the words game and finance) attracting global users.

However, due to the lack of an open legal framework, much of this value has not been fully exploited in the domestic market.

Mr. Victor Tran, CEO of Kyber Network, a decentralized exchange model, emphasized that the level of participation in the digital asset market of people in Vietnam is currently very high compared to the world.

Speakers share about the digital asset market Source: Ho Chi Minh City Department of Science and Technology

Domestic enterprises have built blockchain platforms, transaction systems, customer data, e-wallets, etc. with "made in Vietnam" brainpower and products.

According to him, when there is support from the state, market development conditions will be better than ever.

From another perspective, Mr. Nguyen Thanh Trung, co-founder and CEO of Sky Mavis (the company that owns the popular blockchain game Axie Infinity), said that digital asset businesses in Vietnam are still confused because they do not know how to comply with the law. Businesses want to contribute but are still waiting for a specific policy framework.

Sharing the same view, Ms. Lynn Hoang, Country Director of Binance, the world's largest cryptocurrency exchange, assessed that Vietnam has the potential to become a sustainable digital asset center, if there is a clear legal framework.

She suggested that when forming financial centers in Ho Chi Minh City and Da Nang , it is necessary to consider incentives to attract international talent, like the UAE is applying, including tax policies and an international court model that handles cases in English to help this market develop better.

Source: https://nld.com.vn/binance-va-san-tien-so-noi-gi-ve-thi-truong-tai-san-so-viet-nam-19625082319480977.htm