Roll call of 'big guys' who have just established crypto asset companies in Vietnam

The Government recently issued Resolution 05/2025/NQ-CP on piloting the crypto asset market in Vietnam from September 9, within 5 years. Immediately after that, a series of "big guys" joined the race to establish crypto asset trading floors.

Most recently, Loc Phat Vietnam Cryptocurrency Exchange JSC (LPEX) registered on September 30 with a charter capital of 6.8 billion VND. Shareholders include Mr. Duong Van Quyet holding 40% of the capital, Ms. Nguyen Thi Bich Ngoc and Mr. Vu Phat Dat each own 30%. Notably, Mr. Quyet used to be a major shareholder at Thaigroup.

According to the announcement, LPEX's headquarters is located at LPB building, 210 Tran Quang Khai, Hanoi - also the headquarters of Loc Phat Commercial Joint Stock Bank (Code: LPB), where Mr. Nguyen Duc Thuy is currently Chairman of the Board of Directors.

Previously, in September, Vietnam Prosperity Cryptocurrency Exchange JSC (CAEX) was established with a capital of 25 billion VND including 3 major shareholders. Of which, VPBank Securities JSC (VPBankS) contributed 11% of the capital. The remaining capital of CAEX was contributed by Lynkid JSC with 50% of the capital, Future Land Investment LLC with 39% of the capital.

Also in this month, DNEX Digital Asset Exchange JSC was established with a charter capital of 2 billion VND. The 3 founding shareholders are Fundgo Fund Management JSC, contributing 30% of the capital, Trustpay JSC contributing 30% of the capital and Digital Asset Management Technology JSC contributing 40% of the capital.

The crypto asset market in Vietnam is being piloted for 5 years. (Illustration photo).

At the end of August, VIX Cryptocurrency Exchange JSC (VIXEX) was established with a capital of 1,000 billion VND. Founding shareholders include VIX Securities JSC with a 15% contribution, FTG Vietnam JSC with a 64.5% contribution and 3C Communications - Computers - Controls JSC with a 20.5% contribution.

Previously, Vimexchange Cryptocurrency and Crypto Asset Trading Joint Stock Company was established with a charter capital of 10,000 billion VND. This is the first crypto asset company in Vietnam to reach this charter capital level.

The largest shareholder of Vimexchange is Vimedimex Pharmaceutical Group, contributing 5,000 billion VND, equivalent to 50% of the capital. Bao Tin Manh Hai Jewelry Joint Stock Company contributed 1,000 billion VND, equivalent to 10% of the capital. Some other shareholders of Vimexchange include Hoa Binh Securities Joint Stock Company, Hoa Binh Investment and Development Joint Stock Company, Tien Sa Sea Joint Stock Company, Vietnam Investment and Development Group Joint Stock Company, Vimedimex 2 Pharmaceutical Joint Stock Company, International Fund Management Joint Stock Company.

In early May, Techcom Cryptocurrency Exchange JSC (TCEX), a company related to the Techcombank - TCBS ecosystem, was established with an initial capital of 3 billion VND. The company's shareholders include Techcom Securities JSC (9.9% of capital), Techcom Fund Management JSC (1.1% of capital) and Mr. Nguyen Xuan Minh (89% of capital). By August, the company quickly increased its capital to 101 billion VND.

Not staying out of the race, HD Securities Joint Stock Company (HDS) - in which HDBank holds 30% of the capital, has consulted shareholders on the plan to offer 365 million shares to existing shareholders to increase its charter capital to more than VND 5,100 billion. In the capital use plan, HD Securities plans to spend VND 1,470 billion to contribute capital to a business operating in the field of crypto-asset trading floors with the expected name of HD Crypto-asset Trading Floor Joint Stock Company. This activity will take place after the business increases its charter capital to VND 10,000 billion.

In fact, some businesses have been preparing for this “race” for many years. SSI Securities established SSI Digital Technology Joint Stock Company (SSI Digital – SSID) in 2022. Recently, SSID, together with SSI Fund Management Company Limited, signed a cooperation agreement with two digital asset companies, Tether, U2U Network and Amazon Web Services (AWS), to promote the construction of a digital financial infrastructure ecosystem, Blockchain and cloud computing in Vietnam.

The Military Commercial Joint Stock Bank (MB) also signed a Memorandum of Understanding (MOU) on technical cooperation with Dunamu - the operator of Upbit, the largest cryptocurrency platform in Korea. Dunamu will support MB in establishing a cryptocurrency exchange in Vietnam, and participate in building laws, systems and investor protection mechanisms related to digital assets.

HOANG DUNG (synthesis)

Source: https://vtcnews.vn/diem-danh-loat-tay-to-vua-lap-cong-ty-tai-san-ma-hoa-tai-viet-nam-ar969066.html