Vietnam’s CAEX Plans $383mn Capital Raise as Crypto Licensing Era Begins Full Breakdown

The Vietnam Prosperity Crypto Asset Exchange JSC better known as CAEX just made headlines with a jaw-dropping announcement: its shareholders are finalizing plans to raise charter capital to 10 trillion VND, or roughly $383.51 million USD. This isn’t just a business move. It’s a signal that Vietnam’s crypto licensing era has truly begun.

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What Is CAEX and Why Should You Care?

CAEX is part of VPBank’s (VPB) broader financial ecosystem, one of Vietnam’s most prominent commercial banks. Think of it as the crypto arm of an already powerful financial empire.

The company’s shareholder base includes entities like VPBank Securities (VPBankS) and LynkiD, giving it a diversified, institutional-grade foundation. CAEX isn’t a startup gambling on crypto hype. It’s a calculated, well-backed bid to dominate Vietnam’s emerging regulated digital asset market.

Key Facts About CAEX at a Glance

Detail	Information
Full Name	Vietnam Prosperity Crypto Asset Exchange JSC
Parent Ecosystem	VPBank (VPB)
Planned Capital Raise	~$383.51 million (VND 10 trillion)
Key Shareholders	VPBankS, LynkiD
CEO & Chairman	Nguyễn Hồng Trung
License Target	Vietnam’s 5-Year Crypto Pilot Programme

The Regulatory Earthquake: Vietnam’s New Crypto Framework

Here’s where things get really interesting. Vietnam’s government didn’t just quietly pass a law it fundamentally rewrote the rulebook.

Resolution No. 05/2025/NQ-CP: The Game-Changer

On September 9, 2025, the Vietnamese Government issued Resolution No. 05/2025/NQ-CP, launching a five-year pilot programme for the crypto asset market. For the first time in Vietnam’s history, crypto exchanges could operate legally.

Then, on January 20, 2026, the Ministry of Finance followed up with Decision No. 96/QD-BTC, laying out the nitty-gritty licensing and operational procedures.

The message was loud and clear: Vietnam’s crypto licensing era had officially begun.

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What Does It Take to Get Licensed?

The bar is incredibly high and intentionally so.

• Minimum capital: VND 10 trillion (~$380 million) contributed entirely in Vietnamese dong
• Institutional ownership: At least 65% must come from institutional investors
• Foreign ownership cap: Maximum of 49%
• Corporate status: Only Vietnamese enterprises can apply
• Regulatory oversight: State Securities Commission handles applications

This framework is considered one of the most stringent crypto licensing regimes in Asia  more demanding than both Hong Kong and Singapore in terms of minimum capital requirements.

Vietnam’s Crypto Market: The Numbers Will Shock You

Let’s talk about why all of this matters so much.

According to Chainalysis, the total value of crypto received in Vietnam reached a staggering $220 billion between July 2024 and June 2025 a 55% surge compared to the previous year.

That figure places Vietnam third in the Asia-Pacific region, behind only India and South Korea. And it accounts for nearly 10% of the region’s total transaction volume.

Here’s another number that’ll make your jaw drop: approximately 17 million Vietnamese owned crypto assets as of 2024, ranking seventh globally. Despite this explosive adoption, the sector had been operating largely in a gray zone for years.

The new regulatory framework is designed to change that permanently.

Who Else Is Racing for a License?

CAEX isn’t alone in this race. The announcement of Vietnam’s pilot programme triggered a wave of institutional interest across the country.

Several major players have publicly announced their readiness to participate, including:

• SSI Securities (via its SSI Digital arm, established 2022)
• VIX Securities (through its VIXEX digital asset exchange unit)
• Military Bank, Techcombank, and other top-tier lenders
• Vimexchange which remarkably achieved VND 10 trillion charter capital shortly after its founding in June 2025

At least 10 securities companies and banks have signaled readiness, though all are still awaiting official regulatory approval before launching services.

CAEX’s Preparation: More Than Just Money

Raising $383 million is impressive but CAEX’s preparation goes much deeper than capital.

Infrastructure and Talent

Chairman and CEO Nguyễn Hồng Trung confirmed the company has completed preparations across three critical pillars: technological infrastructure, expert recruitment, and international cooperation frameworks.

CAEX has built a specialized workforce spanning finance, technology, and cybersecurity. It has also forged strategic partnerships with leading international firms in:

• Exchange operations
• Liquidity provision
• Custody services

Safety and Transparency First

CAEX has made investor protection a centerpiece of its strategy. The company says it will prioritize system safety, cybersecurity, and user experience, while aligning its risk governance mechanisms with international standards.

This isn’t just PR talk  it’s a direct response to regulatory requirements and growing public demand for trustworthy crypto platforms in Vietnam.

What This Means for Vietnam’s Economic Ambitions

Vietnam has set bold double-digit economic growth targets, and the crypto sector is increasingly seen as a key pillar of that vision.

The government’s crypto pilot is part of a broader Digital Technology Industry Law passed by the National Assembly in June 2025 which formally recognized digital assets as legitimate property under Vietnamese civil law for the first time ever.

With legal recognition, taxation frameworks, and licensing now falling into place, analysts believe Vietnam is laying the groundwork to become a regional digital financial hub.

FAQs: Everything You Wanted to Know

What is Vietnam’s CAEX Plans $383mn Capital Raise as Crypto Licensing all about?

CAEX, backed by VPBank, is raising approximately $383 million to meet Vietnam’s stringent new crypto exchange licensing requirements under the government’s five-year pilot programme launched in September 2025.

Is CAEX already licensed to operate?

Not yet. CAEX is completing its capital raise and finalizing preparations. It will launch services only after receiving official regulatory approval from Vietnam’s Ministry of Finance.

How does Vietnam’s crypto framework compare to other Asian countries?

Vietnam’s $380 million minimum capital requirement is among the highest in Asia significantly more demanding than Singapore or Hong Kong, which impose lower minimum capital thresholds but apply intensive supervisory oversight.

How big is Vietnam’s crypto market really?

Enormous. Vietnam processed around $220 billion in crypto transactions in a single year (mid-2024 to mid-2025), ranking third in Asia-Pacific and accounting for nearly 10% of the region’s total volume.

Who are CAEX’s main competitors?

Key competitors include Vimexchange, VIXEX (via VIX Securities), SSI Digital, and several new entrants backed by major Vietnamese banks. The race for Vietnam’s first crypto license is heating up fast.