Binance Eyes Vietnam’s Da Nang Financial City for New Office - CEO Richard Teng Signs Landmark MOU

Crypto giant Binance plants its flag in Southeast Asia's emerging financial hub.

EXPANSION MODE ACTIVATED

Richard Teng's signature solidifies Binance's strategic pivot into Vietnam's booming digital asset market. The MOU signals more than just real estate acquisition—it's a direct challenge to traditional finance institutions still debating blockchain adoption.

DA NANG'S GOLD RUSH

Vietnam's coastal city transforms into a crypto oasis as Binance joins the financial district's growing roster of digital asset players. The move bypasses regulatory hurdles that stalled expansion in other markets, proving sometimes the best regulatory strategy is finding friendlier jurisdictions.

THE UNSPOKEN CALCULUS

While traditional banks measure office space in square feet, crypto exchanges measure opportunity in user acquisition costs. This strategic foothold gives Binance direct access to Vietnam's tech-savvy population—where crypto adoption rates outpace even the most optimistic projections.

Because nothing says 'financial innovation' like watching legacy institutions scramble to explain blockchain to their boards while crypto companies actually build it.

Binance Signs MOU with Vietnam’s Da Nang

Binance signed a memorandum of understanding with the Da Nang People’s Committee on cooperation in developing blockchain and digital assets.

Further, Binance’s Teng agreed to share experiences and cooperate closely to develop the nation’s crypto market. He also agreed to support in building an international financial center, based on the Abu Dhabi model.

Richard Teng Bets Big on APAC Region, Growth and Regulatory Compliance in Focus

Teng recently said that his firm plans to support South Korean crypto start-ups through Binance’s platforms, like Binance Labs. He noted that many firms struggle with the challenges of entering the global market.

Binance has already registered as a reporting entity with India’s Financial Intelligence Unit (FIU-IND). Teng stressed that there is potential for growth in the Indian crypto market.

Further, during a recent panel session with Hashed co-founder and partner Ryan Kim, held in Seoul, the Binance head highlighted the shifting crypto focus on the broader APAC market.

“That sort of shifted to Singapore, when Singapore flew the crypto flag in 2020. Earlier this year, [shifted to] Hong Kong,” he said. “So you have, within Asia Pacific, different countries looking in general at how to become very [crypto] friendly.”

Early this month, the world’s largest crypto exchange appointed former Crypto.com Senior VP, SB Seker, to lead Binance’s APAC operations.