Vietnam News

Vietnam to launch pilot crypto trading platform with Bybit’s technical support

19 avril 2025
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Vietnam’s Ministry of Finance plans to launch a pilot crypto trading platform, with technical assistance from Bybit, as reported by Vietnam Investment Review on 18th April. The platform is designed to create a controlled environment for transparent and secure transactions while allowing the government to mitigate potential risks.

Bybit’s co-founder and CEO, Ben Zhou, highlighted the exchange’s expertise in building anti-money laundering controls and transaction tracking systems. Zhou stated that Bybit is well-positioned to assist Vietnam in developing compliance mechanisms, which could lead to significant positive outcomes once a legal framework is in place.

The Ministry of Finance has tasked the State Securities Commission with coordinating further discussions with Bybit to refine the proposals for the trading platform. Bybit has expressed interest in implementing a sandbox model to simulate and test trading mechanisms under regulatory oversight.

Finance Minister Ho Duc Phoc emphasised the risks posed by unregulated transactions and the necessity of a comprehensive legal framework to guide the country’s digital asset market. The project is part of the broader government strategy to support blockchain innovation and protect investors while channelling crypto into Vietnam’s growing digital economy.

Vietnam ranked fifth globally in crypto adoption, according to Chainalysis’ latest “Geography of Crypto Report.” This ranking underscores the urgency of establishing a regulated marketplace for digital assets. A draft resolution for the pilot platform is expected to be submitted to the government by early May.

Bybit’s involvement in Vietnam aligns with its recent efforts to support blockchain growth worldwide. On 3rd April, former Binance CEO Changpeng Zhao signed a memorandum with the Kyrgyz Republic to advise on blockchain development. Similarly, Zhao joined the Pakistan Crypto Council on 7th April to contribute to infrastructure and educational initiatives in the crypto industry.

Dimsumdaily.hk – April 19, 2025

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