Vietnam is moving forward with plans to establish an international financial center in Da Nang, with Binance and Bybit invited to play key roles. The government aims to pilot a regulated digital asset market under strict legal and capital requirements.
Vietnam Pushes Digital Asset Strategy With Binance and Bybit Partnerships
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Da Nang Positioned as Future Digital Finance Hub for Vietnam
Vietnam is stepping up its digital finance ambitions by inviting Binance to establish a headquarters in Da Nang and advise on building a regulated digital asset exchange. The move is part of Vietnam’s plan to launch an International Financial Center that integrates blockchain into the formal economy.
According to Vietnam Net, Deputy Prime Minister Nguyen Hoa Binh met with executives from Binance and Bybit on a recent visit to the UAE. A proposal was shared with Binance to support blockchain development, share expertise in compliance, and infrastructure. Bybit, which has over 2.5 million users in Vietnam, also expressed the possibility of assisting with legal frameworks and workforce training.
The initiative comes as Vietnam enacts a five-year pilot program for digital assets. Requirements include a minimum charter capital of $409 million (10 trillion VND) and strict AML/KYC compliance.
Analysts say partnerships with Binance and Bybit could position Da Nang as a regional hub for digital assets, though success will depend on strict oversight and the ability of global exchanges to adapt to the country’s regulatory environment.
