OKX Ventures and HashKey Capital Back Vietnamese Crypto Exchange CAEX - Blockonomi

by · Blockonomi

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  • CAEX, a cryptocurrency exchange affiliated with Vietnam’s VPBank, has received investment from OKX Ventures and HashKey Capital
  • This funding enables CAEX to satisfy Vietnam’s strict $380 million capital threshold for participation in the national crypto licensing pilot
  • Vietnam’s regulatory framework permits a maximum of five licensed crypto exchanges, with foreign ownership limited to 49%
  • Vietnamese market participants transacted approximately $200 billion worth of digital currencies during the twelve months ending mid-2025
  • Following its 2023 inclusion on the FATF grey list, Vietnam has accelerated efforts to strengthen crypto oversight

Two prominent crypto investment firms, OKX Ventures and HashKey Capital, have announced their financial backing of CAEX, a Vietnamese cryptocurrency trading platform with ties to VPBank, one of the nation’s premier private banking institutions.

Friday’s announcement revealed that VPBank Securities and digital identity provider LynkiD also hold equity stakes in CAEX.

This capital infusion aims to elevate CAEX’s total capitalization to 10 trillion Vietnamese dong, approximately $380 million. This threshold represents the mandatory minimum for participation in Vietnam’s state-administered cryptocurrency pilot initiative established under Resolution 05/2025.

The Vietnamese government’s experimental program will grant operational licenses to only a select group of cryptocurrency platforms. Officials have specified that no more than five companies will receive authorization to function within this framework.

The pilot’s application period commenced on January 20, 2026. Under the regulatory structure, international ownership cannot exceed 49%, while institutional investors must contribute at least 65% of total capital.

Vietnamese authorities have also indicated their intention to restrict access to unlicensed international platforms after domestic licensed exchanges become operational. This creates urgency for international cryptocurrency companies to establish partnerships with compliant Vietnamese entities.

OKX stated that this investment would equip CAEX with both the financial resources and technical expertise necessary to satisfy regulatory standards. Planned cooperative efforts encompass infrastructure development, cybersecurity measures, regulatory compliance, and risk mitigation strategies.

Both OKX and HashKey have declined to reveal the precise amount of their respective investments or their ownership percentages.

Vietnam’s Substantial Crypto Market Grapples with Fraud Challenges

Based on 2025 Chainalysis research, Vietnam holds the fourth position worldwide in cryptocurrency adoption rates. The country’s users transferred an estimated $200 billion in digital currencies throughout the year concluding in mid-2025.

However, the sector has experienced significant fraudulent activity. Vietnamese law enforcement detained several individuals connected to cryptocurrency platform ONUS in March 2026, accusing them of employing deceptive marketing tactics and manipulating token prices to defraud investors of billions of dollars.

The Financial Action Task Force added Vietnam to its grey list in 2023 due to inadequate anti-money laundering safeguards, especially concerning virtual assets. This designation has been a primary catalyst for the country’s current regulatory initiative.

Regulatory Structure Now Established

Vietnam’s Digital Technology Industry Law became operational in January 2026. This legislation officially acknowledged crypto assets and established the legal foundation for licensing procedures, regulatory supervision, and industry development programs.

The updated regulations mandate that cryptocurrency businesses secure appropriate licenses, implement identity verification procedures, conduct transaction monitoring, and submit regular reports to governmental agencies.

CAEX had previously announced it was nearing completion of its capital-raising efforts to reach the 10 trillion dong benchmark prior to securing this latest investment commitment.

An OKX representative emphasized that Vietnam represents a significant market for digital asset advancement and that establishing a regulated environment constitutes a positive development for the broader industry.

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