SSC Vice Chairman Backs Crypto as Vietnam Eyes Digital Growth

Crypto assets and the tokenization of real-world assets (RWAs) are steadily emerging as key pillars of Vietnam’s digital economy, according to senior regulators, as the country accelerates efforts to build a comprehensive legal framework for digital finance.

According to a local report, speaking at the 2026 Conference on New Products and Market Development Orientation held in Hanoi on Friday, Bùi Hoàng Hải, Vice Chairman of the State Securities Commission (SSC), highlighted Vietnam’s strategic position in the evolving global financial landscape. 

Hải highlights Vietnam’s pivotal phase

The event, themed “Crypto Assets and the Future of Digital Financial Markets,” convened key stakeholders, including representatives from the SSC, State Bank of Vietnam, Ministry of Public Security, financial institutions, securities firms, commercial banks, and blockchain associations.

Hải emphasized that Vietnam is entering a pivotal phase in digital finance development, guided by Government Resolution No. 05/2025/NQ-CP, which lays the groundwork for pilot crypto-asset trading platforms.

He said, “In the context of the Government accelerating the development of digital financial markets, Vietnam has a major opportunity to attract international capital flows, unlock innovative business models, and strengthen its position in the regional fintech landscape.”

“These are central requirements for regulators and businesses as we develop new financial markets, including the pilot crypto-asset market in Vietnam,” he added.

Industry leaders highlight growth opportunities

Chris Chiew, Senior Advisor at CAEX, pointed to Vietnam’s strong fundamentals, including its young, tech-savvy population and a rapidly expanding digital economy. 

According to Chiew, Vietnam currently ranks seventh globally in the number of crypto-asset users and fifth in transaction growth. He noted that tokenization offers potential by enabling fractional ownership of high-value assets such as real estate, infrastructure, commodities, gold, industrial facilities, data centers, energy projects, and port systems. Major institutions like BlackRock and Hamilton Lane have launched tokenized investment products.

Meanwhile, Phan Đức Trung, Chairman of the Vietnam Blockchain Association, highlighted that the global crypto sector has matured following periods of volatility, aided by the introduction of Bitcoin exchange-traded funds (ETFs). BlackRock alone manages approximately $67 billion in Bitcoin ETF assets. In the Asia-Pacific region, digital asset transaction values reached around $2.4 trillion as of June 2025, demonstrating strong momentum.

Regulatory framework continues to evolve

Tô Trần Hòa, Deputy Head of the SSC’s Crypto Asset Market Management Board, outlined draft orientations for the domestic market. 

Under the proposed framework, investors would retain the ability to hold digital assets in personal wallets even after licensed virtual asset service providers (VASPs) begin operating. However, trading activity would gradually transition to licensed domestic platforms to ensure regulatory oversight and investor protection.

The comments come as global exchanges continue to engage with Vietnam’s emerging digital asset sector. Recently, Bybit confirmed its commitment to support Vietnam’s evolving digital asset ecosystem. 

Regulators and industry align on growth

The conference underscored Vietnam’s ambition to balance innovation with prudence. As digital finance evolves, regulators and industry players are working collaboratively to foster sustainable growth that integrates crypto assets into the broader economy while mitigating risks.

This development marks another step forward in Vietnam’s fintech ambitions, potentially transforming how capital is raised, assets are traded, and financial services are delivered in the coming years. With a clear regulatory pathway on the horizon, the country appears to be well-positioned to capitalize on the global shift toward tokenized and decentralized finance.

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