Vietnam Pushes Crypto Hub Ambitions with Binance and Bybit Talks

Vietnam is taking bold steps to position itself as a major crypto hub in Asia. Deputy Prime Minister Nguyen Hoa Binh recently met with Binance CEO Richard Teng in the UAE, urging the exchange to set up a local headquarters in Da Nang. During the meeting, Nguyen proposed close collaboration with Vietnam’s planned International Financial Center, including deploying a digital asset exchange with Binance. Reports suggest Teng has been invited to serve as a senior advisor to this initiative, signaling strong government interest in Binance’s expertise.

Binance responded positively, pledging to share its knowledge and cooperate with Vietnam’s blockchain goals. The company also signed a Memorandum of Understanding with Vietnamese officials to support blockchain development, laying the groundwork for a stronger Web3 ecosystem in the country.

Nguyen also held discussions with Ben Zhou, co-founder and CEO of Bybit, to explore regulatory frameworks for digital assets. Bybit has been actively expanding in Europe under strict compliance standards, and Vietnam praised the company’s efforts. Both sides highlighted the importance of building a clear regulatory foundation for crypto adoption. Bybit expressed readiness to assist in shaping Vietnam’s policies, enhancing trust in the country’s digital asset market.

Still, Vietnam’s priority remains its partnership with Binance, given its global dominance as the largest cryptocurrency exchange. A local Binance headquarters could provide critical infrastructure, including on- and off-ramps, to accelerate adoption among Vietnamese users. Combined with state-driven initiatives and domestic institutional support, these developments may rapidly transform Vietnam into a thriving crypto industry hub.

With the establishment of its International Financial Center and growing partnerships with top global exchanges, Vietnam is sending a clear message: it wants to lead the next wave of digital asset innovation in Southeast Asia.