OKX Ventures and HashKey Capital are backing a new Vietnam-based crypto exchange as Hanoi accelerates efforts to bring one of the world’s most active retail crypto markets under formal regulation.
Vietnam Prosperity Crypto Asset Exchange (CAEX) announced on Friday that the two companies have agreed to invest and become strategic partners together with founding shareholders VPBank Securities and digital identity company LynkiD.
With this funding, CAEX’s capital base reaches VND10 trillion (approximately $380 million), which is the minimum amount required to participate in the government pilot program for regulated virtual currency trading under Resolution 05/2025.
The deal comes after Vietnam’s Digital Technology Industry Law, which took effect in January, formally recognized cryptoassets and laid the legal foundation for licensing, supervision and industry incentives. Regulators are now pushing to move activity onshore through a pilot program that will license a small number of domestic exchanges as part of a broader effort to limit offshore trading and tighten control over capital flows.
This combination of legal recognition and controlled market access has sparked competition between local financial institutions and global crypto companies to secure early positions. Vietnamese users moved an estimated $200 billion in digital assets in the year to mid-2025, placing Vietnam among the world’s top cryptocurrency adoption markets.
Under the partnership, OKX Ventures and HashKey will collaborate with CAEX on infrastructure, security, compliance, and liquidity. The exchange is located within the VPBank ecosystem, leveraging VPBankS for financial backing and governance and LynkiD for core technology and digital identity.
Vietnam was added to the Financial Action Task Force’s gray list in 2023 due to weak anti-money laundering measures, especially regarding virtual assets. This designation is a major motivation for promoting regulation.
The new framework requires crypto companies to obtain licenses, verify the identity of users, monitor transactions and submit reports, measures designed to bring Vietnam closer to global compliance standards.
For Hanoi, the bet is that a regulated cryptocurrency market could help restore the country’s financial reputation. For OKX and HashKey, the calculation is easier. Get in early, meet compliance standards, and grow with the market while the rules are still being written.
