Key Points
- CAEX, a Vietnamese crypto exchange associated with VPBank, receives investment from OKX Ventures and HashKey Capital
- The funding enables CAEX to reach Vietnam’s 10 trillion dong ($380 million) capital threshold for the crypto pilot program
- Vietnam’s regulatory pilot permits a maximum of five licensed crypto exchanges, with foreign ownership limited to 49%
- Digital asset transactions in Vietnam reached approximately $200 billion in the year ending mid-2025
- Vietnam’s inclusion on the FATF grey list in 2023 has accelerated regulatory reform efforts in the crypto sector
CAEX, a Vietnamese cryptocurrency exchange with ties to VPBank, one of the nation’s leading private banks, has secured investment from OKX Ventures and HashKey Capital.
.@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 investment announcement came Friday. Additional stakeholders in CAEX include VPBank Securities and digital identity provider LynkiD.
The funding round aims to elevate CAEX’s total capitalization to 10 trillion Vietnamese dong, approximately $380 million. This figure represents the minimum capital threshold established for participation in Vietnam’s government-supervised crypto pilot program under Resolution 05/2025.
The Vietnamese government has set strict limits on the number of licensed crypto exchanges permitted under the pilot program. Regulators have indicated that a maximum of five entities will receive operating licenses.
Applications for pilot licensing began on January 20, 2026. The regulatory framework restricts foreign ownership to 49%, while requiring at least 65% of capital to originate from institutional shareholders.
Vietnamese authorities have indicated plans to restrict access to unlicensed international platforms after domestic licensed exchanges begin operations. This timeline creates urgency for international crypto companies seeking compliant partnerships in Vietnam.
OKX stated the investment would provide CAEX with enhanced financial capacity and technical expertise to satisfy regulatory standards. Planned collaboration areas include infrastructure development, security protocols, compliance systems, and risk management frameworks.
Both OKX and HashKey have declined to disclose specific ownership percentages or exact investment figures.
Vietnam’s Substantial Crypto Market Faces Fraud Challenges
Chainalysis data from 2025 places Vietnam fourth worldwide in cryptocurrency adoption rates. Vietnamese market participants transacted roughly $200 billion worth of digital assets during the year ending mid-2025.
The market has experienced significant fraudulent activity. Vietnamese law enforcement detained several individuals connected to crypto platform ONUS in March 2026, accusing them of deceptive marketing practices and token trading manipulation that allegedly defrauded 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 assets. This designation has significantly influenced the current regulatory initiatives.
Regulatory Structure Now Established
Vietnam’s Digital Technology Industry Law became operative in January 2026. The legislation formally acknowledged crypto assets and established the legal foundation for licensing procedures, regulatory oversight, and industry incentives.
The regulations mandate that crypto businesses secure licenses, implement customer identity verification, conduct transaction monitoring, and submit regular reports to regulatory authorities.
CAEX had previously announced it was approaching completion of its capital raising efforts to meet the 10 trillion dong requirement prior to this latest funding round.
An OKX representative described Vietnam as a significant market for digital asset development and characterized the regulated framework as a positive advancement for the sector.
