OKX Ventures and HashKey Capital have taken stakes in CAEX, a Vietnamese crypto exchange linked to VPBank, one of the country’s largest private banks.
The investment will help CAEX meet the minimum charter capital requirement of 10 trillion dong (approximately $380 million). This requirement is necessary to participate in a five-year crypto exchange regulatory pilot program launched by Vietnam’s Ministry of Finance.
Related: Dubai Regulator Issues World’s First Crypto Asset Issuance Guidance
Pilot Program Conditions
The program is highly selective. No more than five operators will receive licenses. Foreign ownership is capped at 49%. Institutional investors must hold at least 65% of the capital.
Authorities have signaled potential blocking of unlicensed foreign platforms once the first local exchanges launch. This forces foreign players to seek legal market entry through local partners.
Related: South Korea Plans to Regulate RWA and Stablecoins Under Existing Financial Laws
Strategic Significance
CAEX is part of the VPBank ecosystem. OKX Ventures and HashKey Capital will become strategic partners alongside VPBank Securities and technology company LynkiD.
The parties plan to collaborate on technical infrastructure, security, compliance, risk management, and liquidity provision.
Vietnam ranks fourth globally in cryptocurrency adoption. However, market growth has been accompanied by high-profile fraud schemes. In March 2026, authorities detained individuals linked to the ONUS platform on charges of manipulation and misappropriation of investor funds.
Related: SEC Nears Launch of Reg Crypto—Proposal Already at White House for Review
