Vietnam's CAEX Secures Investment from OKX Ventures and HashKey for Regulatory Compliance
As Vietnam implements stringent cryptocurrency pilot regulations requiring onshore licensing, VPBank-affiliated CAEX receives strategic backing from OKX Ventures and HashKey to meet demanding capital requirements.
The cryptocurrency exchange CAEX, which operates within the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) financial ecosystem, has announced that it has secured financial backing from OKX Ventures and HashKey as the platform works toward meeting the requirements of Vietnam's new pilot program for digital asset exchanges.
In an announcement made on Friday, CAEX revealed that these two international entities will become shareholders alongside existing stakeholders VPBank Securities (VPBankS) and its technology partner LynkiD.
Based on a statement provided to Cointelegraph, the capital injection from these investors is designed to assist CAEX in satisfying Vietnam's mandatory minimum charter capital requirement of 10 trillion dong (approximately $380 million), which represents a crucial prerequisite for eligibility in the government's pilot initiative.
Vietnam pilot sets high bar
This development unfolds as Vietnam's State Securities Commission and Ministry of Finance continue implementing a five-year experimental program for cryptocurrency trading that will grant licenses to only a select group of digital asset service providers. Government officials have indicated that the pilot program, which began accepting applications on Jan. 20, will authorize no more than five businesses to run exchanges during this period.
The regulatory structure additionally restricts international ownership to a maximum of 49% while mandating that institutional shareholders maintain control of at least 65% of the capital, establishing substantial entry obstacles even for entities with banking institution support.
Government representatives have further indicated intentions to potentially restrict access to unauthorized foreign platforms after licensed domestic exchanges commence operations, significantly increasing the importance for international companies to establish a regulatory-compliant presence in the Vietnamese market.
When contacted by Cointelegraph, an OKX representative stated they were unable to reveal specific details regarding the investment amount or the ownership percentages that OKX and HashKey will hold in CAEX, nor could they confirm whether this investment guarantees CAEX's acceptance into the pilot program, noting it would "not be appropriate to comment further on the regulatory process." The spokesperson did confirm, however, that the capital commitment would allow CAEX to satisfy the financial prerequisites necessary to seek admission into Vietnam's regulated cryptocurrency pilot initiative.
Operating as a component of VPBank's extensive financial services network, CAEX had previously disclosed that it was nearing completion of efforts to increase its charter capital to the 10 trillion dong threshold required for pilot program qualification, with VPBank ranking among Vietnam's most prominent private banking institutions.
According to the OKX representative, in their capacity as a strategic partner, the organization plans to collaborate with fellow shareholders "as appropriate" to guarantee that CAEX possesses both "the financial strength and technical know-how" necessary to satisfy customer demands and conform to regulatory requirements. They indicated that possible cooperation areas encompass technical infrastructure development, security system implementation, compliance frameworks, and risk management protocols.
Vietnam's crypto market has boomed, but regulation is tightening
The Vietnamese cryptocurrency sector has experienced remarkable expansion in recent years, with the analytics firm Chainalysis placing the nation in fourth position globally for crypto adoption in 2025. Nevertheless, this expansion has been tarnished by numerous prominent fraud cases and scam investigations, providing regulatory authorities with additional motivation to strengthen oversight and control measures.
During March 2026, law enforcement agencies in Vietnam apprehended several individuals connected to ONUS following accusations that they employed deceptive marketing tactics and engaged in token trading manipulation to illegally appropriate billions of dollars in investor capital through the cryptocurrency exchange.
The company representative characterized Vietnam as a significant market for digital asset innovation, adding that the "development of a regulated framework" represents a "constructive step" forward for the nation's cryptocurrency industry.