According to Teng, Binance not only highly values Vietnam’s current contributions but also sees the country as a high-potential market for the future, a strategic partner in shaping the future of the digital economy.

The firm is committed to working closely with regulators, industry players, and the local community to build a transparent, sustainable, and innovative digital asset ecosystem in Vietnam, he said.

The Binance representative noted that Vietnam is not merely a consumer market, but a strategic companion in the firm’s global digital asset journey. The partnership with Vietnam is envisioned to play a defining role in the future of financial innovation on multiple fronts, extending beyond the provision of services to a deep and meaningful collaboration.

To realise this vision, Richard said Binance pledges close cooperation with Vietnamese authorities, businesses, and communities to develop a healthy, sustainable, and legally compliant digital financial ecosystem. Teng also projected that Vietnam would be a vital part of the next wave of digital finance innovation, with key trends such as Web3, AI, stablecoins, and the tokenisation of real-world assets.

At present, Binance holds operational licenses in 21 countries and territories across the globe, with a wide reach that spans from Latin America and Eastern Europe to Asia-Pacific countries like Japan, Australia, New Zealand, Indonesia, and Thailand. By June 2025, Binance commanded over 41% of the global daily crypto trading volume, consolidating its position as a market leader in the digital asset space.

The platform currently boasts more than 280 million registered users worldwide, attracting around 1 million new users each week. On average, approximately US4$90 billion in transactions is conducted daily on Binance, with the total cumulative trading volume over the past year exceeding US$135 trillion.

The digital asset market in Vietnam is currently thriving, with a large number of users actively owning, investing in, and trading cryptocurrencies through crypto asset exchanges. According to Triple-A, a Singapore-based fintech company specialising in crypto and digital asset payment solutions for businesses worldwide, as of 2024, around 17 million Vietnamese own cryptocurrency-related e-wallets, accounting for 17% of the country’s 100 million population. This figure is significantly higher than the global average of 6–6.5%, placing Vietnam among the top countries in terms of crypto adoption rate.

Further reinforcing this position, the “Global Crypto Adoption Index 2024” by Chainalysis, a US-based blockchain analytics firm headquartered in New York, ranks Vietnam 5th globally for cryptocurrency ownership. The other four leading countries are India, Nigeria, Indonesia, and the United States.

Notably, the total inflow of digital assets into Vietnam between July 2022 and June 2023 reached approximately US$120 billion. During the same period, Vietnamese investors earned nearly US$1.18 billion USD in profits from digital asset investments. This ranked Vietnam third worldwide in crypto investment gains, following only the United States (US$9.36 billion) and the United Kingdom (US$1.39 billion).

While crypto assets are not recognized as legal means of payment in Vietnam, their ownership and trading are not prohibited. Vietnamese individuals are still able to hold and trade cryptocurrencies. However, Vietnam has yet to establish a clear legal framework that officially permits or regulates the opening of accounts and trading of crypto assets on international exchanges.

Draft decree on digital asset pilot programme submitted to Gov’t

The Ministry of Finance has submitted to the Government a draft decree on implementing a pilot programme for the issuing and trading of digital assets.