Covering nearly 17,000 sq.m, the HCM City Innovation and Startup Centre (SIHUB) operates under a public–private partnership model. — VNA/VNS Photo Thu Hoài

HCM CITY — Amid rapid digital transformation, financial technology (fintech) is driving new business models, financial inclusion and competitiveness while lowering costs and enhancing transparency, experts said at the HCM City Fintech Summit 2025 last Saturday.

The city's Innovation and Startup Centre on August 23 hosted the event themed “Regulations, Innovation and Opportunities”, bringing together potential fintech startups with leading experts and international partners in digital banking, payments, blockchain and risk management.

Among Việt Nam’s pioneering fintech enterprises, MoMo has emerged as a clear example of innovation, becoming one of the country’s first technology unicorns.

Nguyễn Bá Diệp, co-founder and vice chairman of MoMo, said Việt Nam’s retail sector continues to grow strongly, with traditional retail channels still dominating.

However, barriers in digital transformation have left the sector fragmented and poorly connected.

“As the largest fintech in Việt Nam, MoMo is working to build an ecosystem where customers can shop, pay and access financial services on a single platform.”

Developing such an ecosystem requires long-term commitment, with MoMo itself taking more than 15 years to establish its system.

Diệp said the current landscape presents many opportunities for fintech startups. Supporting small traders and SMEs shows that digital transformation must be accessible, low-cost and roadmap-based.

“Businesses should begin by providing basic digital touchpoints such as QR codes, integrated sales and delivery management software, and gradually move towards digital finance and credit access,” he said

Comprehensive solutions, rather than standalone services, are the key to wider adoption.

Nguyễn Thành Trung, co-founder and CEO of Sky Mavis, highlighted the role of digital assets in reshaping how businesses operate and connect with the digital economy, enabling them to overcome geographical limits and reach global users.

Starting as a small startup, Sky Mavis has continually innovated to tap into the global market.

Its in-game marketplace for characters and items has now reached US$4.3 billion in trading volume.

Beyond gaming, the company has built blockchain infrastructure to support developers and users, creating a broader ecosystem for digital assets.

“The potential of digital assets goes far beyond technology or gaming,” Trung said.

They can be applied to real estate, where physical assets are digitised and traded online, allowing users to own a fraction of a property.

In supply chain management, digital assets can provide transparent information and improve efficiency.

While opportunities are limitless, the challenge lies in how enterprises integrate digital assets into different sectors to unlock new growth and markets.

“Digital assets are a global trend. If we fail to adapt quickly, we risk being left behind,” he said.

With Việt Nam already developing policies to promote digital assets and their use, experts said the country’s fintech sector has significant room to expand, offering startups vast opportunities to innovate and compete both domestically and internationally. — VNS