Binance and Bybit CEOs Forge Historic Partnership with Vietnam’s Deputy PM for Major Expansion

Crypto giants make strategic power move in Southeast Asia's emerging market.

Breaking Protocol

Binance's Richard Teng and Bybit's Ben Zhou just shook hands with Vietnam's Deputy Prime Minister in a closed-door meeting that signals serious expansion ambitions. These aren't casual courtesy calls—this is coordinated market entry strategy playing out at the highest levels of government.

Southeast Asian Gold Rush

Vietnam's crypto adoption rates have been screaming upward while traditional finance scrambles to keep pace. The deputy PM's direct involvement suggests regulatory frameworks might be shifting faster than anyone anticipated. Both exchanges clearly recognize what institutional money flowing into Vietnamese blockchain startups already knows—this market's poised for explosion.

Regulatory Chess Match

Watch how these talks unfold over licensing requirements and compliance structures. Vietnam's approach could become the template for other emerging economies wrestling with crypto integration. The real question isn't whether they'll expand—but how much legacy financial infrastructure they'll bypass in the process.

Another day, another country realizing blocking digital asset innovation is like trying to stop monsoon season with paperwork.

How Binance Can Help Vietnam’s Digital Assets Market

Vietnam has been aiming to be a new crypto hub for a while, preparing friendlier regulations and encouraging new exchange infrastructure.

Today, a state-owned media outlet detailed a few developments on this front, as Binance CEO Richard Teng met with Vietnam’s Deputy Prime Minister:

“Deputy PM [Nguyen Hoa Binh] proposed opening a headquarters in Da Nang and working closely with Vietnam’s International Financial Center to deploy a digital asset exchange [with Binance]. Richard Teng…was invited to serve as a senior advisor for the project,” the statement claimed.

This meeting took place in the UAE, and Nguyen was explicitly pursuing the goals of expanding his country’s Web3 presence. Binance was apparently interested in this proposal, promising to “share expertise and cooperate” with Vietnam.

Additionally, the firm signed a Memorandum of Understanding with government officials regarding blockchain development.

Bybit’s Regulatory Assistance

Nguyen did not pursue Binance exclusively; Vietnam’s Deputy PM discussed these issues with several crypto CEOs. In particular, he reached out to Ben Zhou, co-founder and CEO of Bybit.

Zhou has already met with top-level Vietnamese officials to discuss crypto policy this year, and these relationships are apparently deepening.

Specifically, Nguyen praised the firm’s extensive efforts to meet regulatory compliance, citing Bybit’s successful European expansion. This meeting discussed the importance of a sturdy regulatory framework to undergird crypto markets, and Bybit pledged to contribute to policy development.

Ambitious Growth Plans

Still, Vietnam’s statements clearly prioritized the Binance meeting. If this cooperation works as advertised, the world’s largest exchange will put down concrete roots in the country, building new on- and off-ramps between Web3 and the local population. Such a measure could turbocharge local crypto industry growth.

The nation is also prepared to act independently of these international firms, rallying domestic financial institutions to support these ambitious plans.

Vietnam aims to establish an International Financial Center, integrating local TradFi and tech firm interests into a new infrastructure hub.

Between these investments and international partners like Binance and Bybit, Vietnam may create a thriving local industry. It will face a lot of competition in the region, but success could provide huge benefits.