Da Nang Partners with Bybit to Launch International Financial Hub and Blockchain Sandbox Pilots

Da Nang just turbocharged its fintech ambitions—partnering with crypto exchange Bybit to launch an international financial center and blockchain regulatory sandbox.

The Strategic Play

Vietnam's coastal tech hub isn't waiting for traditional finance to catch up. They're building the rails for next-gen financial infrastructure—with Bybit providing the exchange tech and global reach.

Sandbox Access

The pilot programs give blockchain startups a controlled environment to test innovations without drowning in red tape. Think DeFi protocols, tokenized assets, and digital payment systems—all getting real-world trial runs.

Global Implications

This move positions Da Nang as Southeast Asia's newest crypto-friendly zone, challenging Singapore and Dubai's dominance. Because nothing says 'international financial center' like embracing the asset class legacy banks still pretend to understand.

Da Nang's betting that regulatory clarity plus crypto infrastructure equals economic growth. Meanwhile, traditional finance hubs are still debating whether blockchain is just a fancy Excel spreadsheet.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has signed a memorandum of understanding (MOU) with the People’s Committee of Da Nang City, the Abu Dhabi Blockchain Center (ADBC) and Verichains Network Security Company Limited to help develop Da Nang as a regional hub for international finance and blockchain innovation.

Under the agreement, the partners will concentrate on three Core pillars to support Da Nang’s ambition to become an International Financial Center (IFC): creating digital-asset liquidity to connect the city with global financial markets; improving ecosystem connectivity between Vietnam and other international finance hubs; and strengthening infrastructure security to ensure a resilient, risk-controlled environment for blockchain innovation. The MOU also highlights Da Nang’s recent approval to deploy a blockchain sandbox, positioning the city as a natural testing ground for progressive digital-asset policies.

The deal is designed to translate national strategy into local action. As part of the pact, Da Nang’s authorities will streamline administrative procedures to facilitate partner investment, office opening and integration into the IFC. Bybit and its partners will provide policy consultation, share international best practices and assist in building a modern regulatory framework that aims to be both policy-flexible and risk-controlled, an approach the MOU says will minimize exposure to threats that target digital-asset ecosystems.

Helen Liu, Co-CEO of Bybit, said, “Vietnam is an inspiring example of a nation embracing digital transformation, and we are honored to contribute to its journey. Bybit is committed to sharing our global expertise in blockchain and digital asset innovation to support Da Nang’s vision of becoming an International Financial Center. This partnership reflects our belief in building sustainable ecosystems hand in hand with governments, institutions, and trusted partners.”

Innovative Digital-asset Ecosystem

The MOU builds on Bybit’s earlier engagement in Vietnam. In April 2025, Bybit Co-Founder and CEO Ben Zhou met with H.E. Nguyen Van Thang, Vietnam’s Minister of Finance, in Hanoi to express support for the country’s regulatory sandbox initiative and to back efforts to create a safe, transparent and innovation-friendly digital-asset ecosystem, including pilot testing issuance and trading of crypto assets under strict AML and KYC safeguards. Today’s agreement with Da Nang is framed as a natural continuation of those talks.

Founded in 2018, Bybit serves a global community of more than 70 million users and has positioned itself as a bridge between traditional finance and decentralized finance, emphasizing secure custody, diverse marketplaces and on-chain infrastructure partnerships. The exchange says the new cooperation with Da Nang will bring international liquidity, technical know-how and security practices to the city as it pilots new regulatory and market structures.

For Da Nang, a city that has pushed to attract tech and finance investment in recent years, the MOU signals a step toward turning policy experiments, like the blockchain sandbox, into practical, on-the-ground initiatives that could help the city and Vietnam more broadly integrate digital assets while aiming to protect investors and the financial system.