Việt Nam has accelerated efforts to establish a legal framework for digital assets, including pilot exchange licensing. — VNA/VNS Photo

HÀ NỘI — Sacom Crypto Asset Exchange (SCEX) has completed the first round of evaluation in its application process to provide cryptocurrency asset trading services, marking a new step in Việt Nam's pilot digital asset market framework. 

SCEX said it had passed the initial assessment conducted by the Ministry of Finance under the Government's Resolution No. 05/2025/NQ-CP on the pilot implementation of the crypto asset market in Việt Nam. 

According to the company, the approval represents the first step in its roadmap to participate in the country's regulated digital asset market with a focus on transparency, security and legal compliance. 

The rebranding from Loc Phat Vietnam Crypto Asset Exchange (LPEX) to SCEX is part of a broader restructuring strategy aimed at developing a more professional trading platform aligned with international standards, company representatives say. 

SCEX raised its charter capital from VNĐ6.8 billion to VNĐ360 billion (US$14 million) to strengthen its financial capacity and prepare for the official rollout of digital asset trading operations in Việt Nam. 

Under Resolution 05, organisations participating in the pilot programme must satisfy strict requirements related to charter capital, technological infrastructure, cybersecurity, operational governance, anti-money laundering mechanisms and investor protection standards. 

The Ministry of Finance previously said it had received seven applications for crypto exchange licences, of which only five dossiers were deemed complete and valid. SCEX is among the firms that passed the preliminary review stage. 

Other qualified applicants include VIX Crypto Asset Exchange, Vietnam Prosperity Crypto Assets Exchange (CAEX), Techcom Crypto Exchange (TCEX) and Vietnam Digital Assets, affiliated with the Sun Group ecosystem. 

Two applicants, Dolphinex and SSI Digital Technology (SSID), were reported to have submitted incomplete or invalid dossiers. 

SCEX said it was investing heavily in technology infrastructure, cybersecurity systems, risk management and compliance control solutions to meet increasingly stringent requirements in the digital asset market. The company is also expanding its workforce in blockchain technology, information security and operational control to strengthen its trading ecosystem. 

In terms of product strategy, SCEX aims to develop a user-friendly and simplified trading experience suitable for both experienced and first-time digital asset investors. — BIZHUB/VNS