OKX, HashKey behind CAEX linked to VPBank for Vietnam’s crypto pilot bid
CAEX has secured major funding from OKX Ventures and HashKey Capital as it prepares to enter Vietnam’s tightly regulated digital asset market.
Summary
- CAEX received new funding from OKX Ventures and HashKey Capital to help meet the 10 billion dong capital requirement for Vietnam’s upcoming crypto exchange pilot.
- The Vietnamese government plans to limit the five-year pilot program to just five licensed companies while maintaining strict limits on foreign ownership and institutional capital.
According to a report dated April 10, the two firms join VPBank Securities and LynkiD as shareholders in this platform, which operates within the ecosystem of VPBank, one of the country’s largest private companies.
This cash injection is designed to help CAEX meet its 10 trillion dong (about $380 million) capital requirement. Meeting this financial threshold is a requirement for any firm hoping to obtain one of the few licenses available under the government’s new pilot program.
CAEX will use the new investment from OKX Ventures and HashKey Capital to comply with the minimum charter capital requirement of 10 trillion dong that mandates all companies participating in the pilot program to maintain capital to legally operate in Vietnam.
The exchange has confirmed that it is now in the final stages of finalizing its 10 trillion dong capital base to meet the January assessment process.
“We believe that the future of crypto will be built on a regulated, local platform that users can trust and CAEX represents that future in Vietnam,” OKX Founder and CEO Star Xu commented in a recent blog post about the partnership.
Vietnam’s Ministry of Finance and the State Securities Commission are currently introducing a five-year inspection phase for the industry. However, the entry window is small. Only five companies will be allowed to operate the exchange during this period, and the licensing process officially began on January 20.
The regulatory framework sets important limits on how these businesses are structured. Foreign investors cannot own more than 49% of the shares, and at least 65% of the total capital must come from institutional shareholders. These high barriers are intended to ensure that only well-funded, professional organizations enter the space.
Apart from imposing high entry costs, the government is showing informal market logging. Once legal offshore exchanges become operational, authorities may block access to unlicensed international networks. This policy change makes local partnerships essential for third parties such as OKX and HashKey to maintain a compliant presence in the country.
Increased adoption meets increased oversight
Chainalysis ranked Vietnam fourth in the world for crypto adoption in 2025. However, the market has struggled with massive fraud.
In March 2026, the police arrested several people connected to the ONUS platform. Investigators suspect the group used deceptive promotions and price manipulation to steal billions of dollars from investors.
By integrating with the VPBank network, CAEX is looking to position itself as a stable alternative to the offshore platforms that currently dominate the local area. The company has now confirmed that it is in the final stages of finalizing its 10 billion dong fund to meet the January inspection process.
