Key Takeaways
- CAEX, a Vietnamese digital currency platform connected to VPBank, has secured funding from OKX Ventures and HashKey Capital
- The capital injection enables CAEX to reach Vietnam’s mandatory 10 trillion dong ($380 million) threshold for participation in the national crypto licensing pilot
- Under the pilot framework, Vietnam will grant licenses to a maximum of five digital asset platforms, with international ownership restricted to 49%
- Vietnamese traders handled approximately $200 billion worth of cryptocurrency transactions in the twelve months ending mid-2025
- The Financial Action Task Force placed Vietnam on its monitoring list in 2023, accelerating regulatory reforms for virtual assets
Two prominent cryptocurrency investment firms, OKX Ventures and HashKey Capital, have committed capital to CAEX, a Vietnamese digital asset platform with ties to VPBank, one of the nation’s leading private financial institutions.
.@OKX_Ventures has invested in Vietnam’s CAEX Exchange as a strategic partner.
We’ll help CAEX meet requirements for Vietnam’s government pilot program for regulated crypto trading, and aim to support the exchange’s development across infrastructure, compliance, security, risk,… pic.twitter.com/ATIODAwXnR
— OKX (@okx) April 10, 2026
Friday’s announcement revealed that VPBank Securities and digital verification company LynkiD hold equity positions in CAEX as well.
The funding round aims to elevate CAEX’s aggregate capital base to 10 trillion Vietnamese dong, approximately $380 million. This figure represents the mandatory minimum for qualifying under Vietnam’s governmental crypto pilot initiative established through Resolution 05/2025.
Vietnam’s regulatory pilot imposes strict limitations on the number of approved digital asset platforms. Government officials have confirmed that participation will be restricted to no more than five qualifying businesses.
Applications for pilot licenses became available on January 20, 2026. The regulatory framework limits foreign stakeholders to a 49% ownership ceiling, while requiring institutional investors to provide at least 65% of total capitalization.
Vietnamese authorities have indicated plans to restrict domestic access to unauthorized international platforms following the launch of approved local exchanges. This creates urgency for foreign cryptocurrency companies to establish partnerships with compliant Vietnamese entities.
OKX stated that the funding would equip CAEX with both the capital reserves and technical expertise necessary for regulatory compliance. Potential partnership initiatives span infrastructure development, cybersecurity protocols, regulatory adherence, and risk oversight systems.
Both OKX and HashKey declined to reveal specific investment amounts or their respective ownership percentages.
Vietnamese Crypto Sector Shows Strong Adoption Despite Fraud Challenges
According to 2025 research from Chainalysis, Vietnam holds the fourth position worldwide in cryptocurrency usage metrics. Market participants within the country processed roughly $200 billion in virtual currency transactions during the twelve-month period concluding in mid-2025.
However, the sector has been plagued by significant fraudulent activity. Vietnamese law enforcement arrested several individuals associated with cryptocurrency exchange ONUS in March 2026, accusing them of deploying misleading marketing tactics and manipulating token markets to defraud investors of billions.
The Financial Action Task Force added Vietnam to its grey list monitoring program in 2023, citing insufficient safeguards against money laundering, especially concerning virtual asset transactions. This designation has significantly influenced the current wave of regulatory initiatives.
New Legislation Establishes Regulatory Foundation
Vietnam’s Digital Technology Industry Law became operational in January 2026. The legislation officially acknowledged crypto assets within the legal system and established the foundation for licensing procedures, regulatory supervision, and sector development incentives.
The regulations mandate that cryptocurrency businesses secure operating licenses, authenticate user identities, track financial transactions, and submit compliance reports to government agencies.
Prior to securing this latest investment, CAEX had announced it was approaching completion of its capital-raising efforts to meet the 10 trillion dong benchmark.
An OKX representative characterized Vietnam as a strategic market for blockchain innovation and described the establishment of a regulated environment as a positive development for the broader industry.
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