OKX and HashKey Invest in Vietnam Exchange CAEX Ahead of Crypto Licensing Pilot

OKX Ventures and HashKey Capital are investing in Vietnam Prosperity Crypto Asset Exchange (CAEX) to help the VPBank-backed platform meet Vietnam's $380 million capital requirement for a government pilot program licensing domestic crypto exchanges. The investment brings CAEX's capital base to VND 10 trillion, the minimum needed under Resolution 05/2025 to participate in the pilot expected to grant licenses to only a handful of exchanges. Vietnam's Digital Technology Industry Law, which took effect in January 2026, formally recognized crypto assets and established a regulatory framework requiring licensing, identity verification, transaction monitoring, and reporting. The regulatory push aims to bring onshore an estimated $200 billion in annual crypto activity by Vietnamese users and address anti-money laundering deficiencies that led to Vietnam's 2023 addition to the Financial Action Task Force grey list.

OKX and HashKey investment in CAEX to meet regulatory capital requirements

• ▪The funding from OKX Ventures and HashKey Capital will bring CAEX's capital base to VND 10 trillion, roughly $380 million.
• ▪Vietnam requires $380 million in capital as the minimum needed to enter a government pilot program for regulated crypto trading under Resolution 05/2025.
• ▪OKX Ventures and HashKey Capital are investing in Vietnam Prosperity Crypto Asset Exchange (CAEX).
• ▪VPBank Securities and digital-identity firm LynkiD are founding shareholders of CAEX alongside OKX Ventures and HashKey Capital.
• ▪OKX Ventures and HashKey will work with CAEX on infrastructure, security, compliance, and liquidity under the partnership.

Vietnam's regulatory framework and pilot program for crypto licensing

• ▪Vietnam's Digital Technology Industry Law took effect in January 2026.
• ▪Vietnam regulators are pushing to shift crypto activity onshore through a pilot program expected to grant licenses to a handful of domestic exchanges.
• ▪Vietnam's Digital Technology Industry Law formally recognized crypto assets and laid the legal groundwork for licensing, oversight, and industry incentives.
• ▪Vietnam's new regulatory framework requires crypto firms to obtain licenses, verify user identities, monitor transactions and file reports.

Vietnam's crypto market scale and compliance motivations

• ▪Vietnamese users moved an estimated $200 billion in digital assets in the year through mid-2025.
• ▪Vietnam is among the top crypto-adoption markets globally based on the estimated $200 billion in digital assets moved by Vietnamese users.
• ▪Vietnam was added to the Financial Action Task Force grey list in 2023 for weak anti-money laundering controls, particularly regarding virtual assets.
• ▪Vietnam's designation on the Financial Action Task Force grey list has been a major motivator behind the country's regulatory push for crypto.

Perspective of Vietnam regulators

• ▪Vietnam's crypto regulatory framework aims to address deficiencies that led to the country's 2023 Financial Action Task Force grey list designation.
• ▪Vietnam's $380 million capital requirement for crypto exchanges under Resolution 05/2025 serves as a barrier to ensure only well-capitalized firms can participate in the pilot program.

Perspective of OKX Ventures and HashKey Capital

• ▪OKX Ventures and HashKey Capital's investment in CAEX positions them to capture market share in Vietnam's estimated $200 billion annual crypto market.
• ▪OKX Ventures and HashKey Capital are providing infrastructure, security, compliance, and liquidity expertise to help CAEX meet Vietnamese regulatory standards.

Perspective of CAEX and VPBank Securities

• ▪VPBank Securities' involvement as a founding shareholder of CAEX represents traditional Vietnamese financial institutions entering the regulated crypto market.
• ▪CAEX's partnership with OKX Ventures and HashKey Capital enables the exchange to meet Vietnam's VND 10 trillion capital threshold required for the crypto licensing pilot.

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