Vietnam to Launch Experimental Cryptocurrency Exchange in Collaboration with Bybit
Vietnam is set to initiate a pilot program for a regulated cryptocurrency trading platform, with technical and operational support provided by the global digital asset exchange Bybit. The move signals Vietnam’s cautious yet progressive approach toward embracing blockchain-based financial innovations while ensuring regulatory oversight. This initiative could pave the way for broader institutional adoption of digital assets in Southeast Asia’s fast-growing crypto market.
Pilot crypto trading framework
The Ministry of Finance, tasked with leading the initiative, will collaborate with other state agencies to develop regulations. A draft resolution for a pilot for the crypto platform is expected to be submitted to the government in early May.
The platform aims to create a controlled environment where investors and businesses can transact transparently and safely while enabling the state to manage risks.
Minister Phoc said the project would help Vietnam channel crypto into the growth of the digital economy. The pilot project is part of broader government efforts to establish a legal corridor that supports blockchain innovation and investment protection.
Bybit will help the Ministry of Finance design the trading platform. Bybit co-founder and CEO Ben Zhou expressed interest in implementing a sandbox model, which would provide a simulated environment for testing trading mechanisms under regulatory oversight.
Bybit offers technical assistance
Zhou noted that Bybit’s experience in building anti-money laundering controls and its partnerships with major global organizations position it to support Vietnam in developing transaction tracking and compliance systems.
Moreover, he stressed that a well-regulated exchange could drive positive outcomes once the legal framework is fully established.
The Ministry welcomed Bybit’s offer and directed the State Securities Commission to coordinate further discussions with the exchange to refine the proposals.
Bybit’s efforts come amid Binance-related moves to support blockchain growth in different countries.
On April 3, former Binance CEO Changpeng Zhao signed a with the Kyrgyz Republic to act as an advisor on its blockchain growth plans. The partnership includes cooperation on technological and educational matters related to crypto and blockchain.
Additionally, Zhaoof the Pakistan Crypto Council on April 7, helping with infrastructure and educational efforts in the crypto industry.
Binance CEO Richard Teng revealed on April 17 that the exchangeto support their crypto-related initiatives.
