Vietnam’s crypto pilot targets $200 billion market from overseas wallets
Vietnam has opened a five-year crypto exchange licensing pilot in an effort to develop a domestic crypto exchange industry.
Techcombank and its securities arm, Techcom Securities (TCBS), are the first to submit an application. Both meet the minimum charter capital requirement of 10 trillion dong (approx. $400 million) and are primarily backed by institutional shareholders.
There are also roughly eight other Vietnamese securities firms and banks that have expressed interest in submitting an application.
But the government only plans to license a small initial group of five crypto platforms.
On January 26, Vietnamese lawmaker Hai Nam Nguyen stressed the importance of properly assessing and calibrating risk to match Vietnam’s…
