Key Highlights
- CAEX, a Vietnamese digital asset platform affiliated with VPBank, receives strategic investment from OKX Ventures and HashKey Capital
- The funding enables CAEX to satisfy Vietnam’s 10 trillion dong ($380 million) minimum capital threshold for participation in the national crypto pilot initiative
- Vietnam’s regulatory framework permits a maximum of five licensed crypto platforms, with foreign stakes limited to 49%
- Digital asset transactions by Vietnamese users reached approximately $200 billion during the period ending mid-2025
- The nation’s inclusion on the FATF grey list in 2023 has accelerated efforts toward comprehensive crypto oversight
Two prominent cryptocurrency investment firms, OKX Ventures and HashKey Capital, have announced their participation in funding CAEX, a Vietnamese digital currency platform associated with 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
The partnership was made public on Friday. Additional stakeholders in CAEX include VPBank Securities and LynkiD, a digital identity verification company.
This capital injection aims to elevate CAEX’s total capitalization to 10 trillion Vietnamese dong, approximately $380 million. This figure represents the mandatory minimum threshold for participation in Vietnam’s state-supervised cryptocurrency pilot initiative established under Resolution 05/2025.
The Vietnamese government’s pilot scheme will grant licenses to only a select number of cryptocurrency platforms. Officials have confirmed that participation will be restricted to no more than five qualified businesses.
Applications for pilot program licenses became available on January 20, 2026. The regulatory structure limits foreign ownership to a maximum of 49%, while requiring that institutional investors hold at least 65% of the total capital.
Vietnamese authorities have indicated they may restrict access to unlicensed international platforms after the initial licensed exchanges become operational. This development creates urgency for international crypto companies to establish compliant partnerships with local entities.
OKX stated that this investment would provide CAEX with both the financial resources and technical expertise necessary to satisfy regulatory standards. Planned collaboration areas encompass infrastructure development, security protocols, regulatory compliance, and risk oversight.
The specific investment amounts and equity percentages acquired by OKX and HashKey were not publicly disclosed by either party.
Vietnam’s Substantial Crypto Activity Challenged by Fraud Concerns
According to 2025 data from Chainalysis, Vietnam holds the fourth position worldwide in cryptocurrency adoption rates. Vietnamese participants processed roughly $200 billion worth of digital assets during the twelve-month period concluding in mid-2025.
However, the sector has been plagued by significant fraudulent activities. In March 2026, Vietnamese law enforcement detained several individuals connected to the ONUS crypto platform, accusing them of employing deceptive marketing tactics and manipulating token markets to defraud investors of billions of dollars.
The Financial Action Task Force placed Vietnam on its grey list in 2023 due to insufficient anti-money laundering safeguards, especially concerning virtual asset transactions. This designation has been a primary catalyst for the ongoing regulatory reforms.
Regulatory Structure Now Established
Vietnam’s Digital Technology Industry Law became operational in January 2026. This legislation officially acknowledged crypto assets and established the legal foundation for licensing procedures, regulatory supervision, and industry support mechanisms.
The updated regulations mandate that cryptocurrency businesses secure proper licenses, implement user identity verification processes, conduct transaction monitoring, and submit required documentation to regulatory authorities.
CAEX had previously indicated it was approaching completion of its capital-raising efforts to reach the 10 trillion dong benchmark prior to securing this most recent investment round.
An OKX representative emphasized that Vietnam represents a significant market for digital asset development and that establishing a regulated environment constitutes a positive advancement for the broader industry.
