Southeast Asia Information Port (www.dnyxxg.com) – Recently, two giants in South Korea's digital asset sector – Kim Hyoung-nyon, Vice President of Dunamu Group, and Lee Eun-hung, Vice Chairman of Hana Financial Group – visited Vietnam, meeting with high-ranking Vietnamese government officials and Ministry of Finance officials to express their strong interest in investing in the Vietnamese digital asset market. It is understood that both groups are particularly focused on the crypto asset sector and hope to develop in-depth cooperation with local Vietnamese companies.
Dunamu Group, as the operator of Upbit, South Korea's largest digital asset exchange, ranks among the top three globally in terms of trading volume. Kim Hyoung-nyon stated that the group highly recognizes the growth potential of the Vietnamese digital asset market and plans to make long-term investments there.
In mid-July 2025, Richard Teng, CEO of Binance, the world's largest digital asset exchange, visited Vietnam to share his experience with local digital asset practitioners. Data shows that as of June 2025, Binance held over 41% of the global digital asset trading volume market share, with over 280 million registered users and a daily trading volume of $90 billion.
"Binance does not view Vietnam as merely a consumer market, but rather as a strategic partner in shaping the future of the digital economy—a relationship that transcends simple service provision and is committed to deep cooperation in the field of financial innovation," said Richard Teng.
Recently, the GM Vietnam 2025 event (GM Vietnam 2025 - Vietnam Blockchain) was held. The event successfully brought together hundreds of top companies and institutions in the global and Vietnamese digital asset, cryptocurrency, and blockchain sectors, becoming one of the largest industry events in Southeast Asia.
During talks with Dunamu and Hana Financial Group, Vietnamese Finance Minister Nguyen Van Thang clearly stated that the Vietnamese government encourages the innovative development of emerging industries such as digital assets and is building a clear and transparent legal framework to support enterprise growth while ensuring market security.
Furthermore, companies with market capitalizations ranging from $1 billion to over $10 billion, including Republic, HashKey, Sui, Aptos, TRON, and Polkadot, all made appearances. These platforms provide the underlying infrastructure for DeFi, NFT, and Web3 applications. These industry giants are actively seeking cooperation opportunities in Vietnam's digital asset sector.
Currently, the draft resolution on the pilot market for digital assets and digital currencies, prepared by the Vietnamese Ministry of Finance, is expected to be submitted to the government for review in August 2025. This draft aims to provide ample room for development for investors while accumulating practical experience for regulatory authorities to improve policies on risk management and anti-money laundering.
Binance CEO Richard Richard Teng highly praised the Vietnamese government's initiatives, believing that the government's recognition of digital assets and the establishment of a legal framework are extremely positive signals. This will help attract talent and foreign direct investment, promote economic growth, and effectively manage risks and prevent money laundering.
Richard Teng suggested that the construction of a legal framework for digital assets should be based on close cooperation among all relevant parties, including regulators, policymakers, and domestic and international companies. The government should also refer to international regulatory requirements, such as Know Your Customer (KYC), Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and regulations on crypto asset custody.
David Chan, Managing Director and Partner at BCG, pointed out that for digital asset trading platforms to operate efficiently, they must meet four key requirements: legal compliance, stable technology platforms, reasonable transaction costs, and strong brand recognition. Therefore, government departments need to establish transparent and verifiable regulatory frameworks, such as conditional sandboxes or two-tier licensing systems. For companies, the focus should be on investing in security, user experience, and service integration capabilities.
Sky Mavis founder and CEO Ruan Chengzhong believes that while capital requirements are necessary for any business model, in addition to capital, clear regulations are needed regarding security standards, technical specifications, financial transparency, user data management, and KYC processes. These are essential conditions for ensuring security, but excessively high capital thresholds should be avoided to prevent companies from restricting their participation in the market. (End)
