TLDR
- Vietnam’s deputy prime minister met Binance CEO Richard Teng to discuss expanding the country’s crypto market.
- Binance may establish an office and trading platform in Da Nang City, Vietnam’s future financial hub.
- Richard Teng agreed to act as a senior advisor for the development of the Vietnam International Financial Center.
- Binance signed an MOU with the Da Nang People’s Committee to cooperate on blockchain and digital asset development.
- Bybit CEO Ben Zhou expressed support for Vietnam’s plans to build an international fintech hub and pilot digital assets.
Vietnam’s Deputy Prime Minister Nguyen Hoa Binh met with Binance CEO Richard Teng during a trip to the UAE. Binh urged Binance to establish an office and trading platform in Da Nang City, Vietnam’s future financial hub. This meeting marked significant progress toward expanding Vietnam’s crypto market, with Binance pledging support.
Binance to Cooperate with Vietnam on Blockchain and Digital Assets
During the meeting, the Deputy Prime Minister also invited Teng to become a senior advisor for developing the Vietnam International Financial Center. This initiative aims to foster growth in Vietnam’s digital asset sector. “We are excited to help Vietnam build its crypto market and establish a financial hub,” said Richard Teng.
The Deputy Prime Minister’s call came after Binance signed a memorandum of understanding (MOU) with the Da Nang People’s Committee. The MOU focuses on developing blockchain technology and digital assets. Binance will work closely with local authorities to create a robust framework for digital innovation.
Bybit and Emaar Participate in Key Discussions on Vietnam’s Fintech Future
In addition to Binance, Binh also met with leaders of Bybit and Emaar. Bybit, a major player in Vietnam’s crypto market, serves over 2.5 million users. CEO Ben Zhou expressed his support for Vietnam’s plans to pilot digital assets and build an international fintech hub.
Bybit, which holds around 15% of the Vietnamese market, confirmed its readiness to assist in developing a legal framework. Zhou highlighted Bybit’s commitment to training the local workforce to manage crypto assets effectively. This collaboration could pave the way for more international firms to enter Vietnam’s crypto market.
The meeting underscored the growing interest in Vietnam as a destination for blockchain and digital asset investment. Binance’s partnership with the Da Nang authorities signals a step forward in Vietnam’s ambition to become a global leader in financial technology.
