CAEX Secures Backing From OKX Ventures and HashKey Capital Ahead of Vietnam’s Crypto Pilot

CAEX said it secured strategic investment from OKX Ventures and HashKey Capital to help meet Vietnam’s VND 10 trillion capital requirement for participation in the government’s pilot crypto-trading framework under Resolution 05/2025/NQ-CP.

Resolution 05/2025/NQ-CP establishes a five-year pilot regime governing crypto-asset issuance, trading, and services in Vietnam.

OKX Ventures and HashKey Invest Alongside VPBankS and LynkiD in CAEX

CAEX said on April 10 that OKX Ventures and HashKey Capital had agreed to invest and join as strategic partners alongside founding shareholders VPBank Securities (VPBankS) and digital-identity firm LynkiD. The new shareholders will contribute capital in April, bringing CAEX’s charter capital to the VND 10 trillion threshold set under Resolution 05/2025/NQ-CP.

The deal size was not disclosed. A spokesperson for OKX said the firm could not share the stake size or confirm any selection in the pilot, noting it would ”not be appropriate to comment further on the regulatory process.” Under the partnership, OKX Ventures and HashKey will work with CAEX on infrastructure, security, compliance, and liquidity.

Resolution 05 Requires VND 10 Trillion Capital for Pilot Entry

The capital requirement is the central gating mechanism for Vietnam’s crypto pilot. Resolution 05/2025/NQ-CP sets the VND 10 trillion floor for platforms seeking to operate under the regime, which is structured as a five-year program overseen by the Ministry of Finance and the State Securities Commission.

Official statements and reporting have indicated that officials and local reporting suggest the pilot will include a limited number of licensed platforms to be issued during the pilot. That has turned the capital threshold into more than a paperwork hurdle, since firms that cannot clear it are effectively shut out of the first wave of regulated domestic trading.

The pilot sits on top of Vietnam’s Digital Technology Industry Law, which took effect on January 1 and formally recognised crypto assets in national legislation. Together, the law and the resolution provide the legal basis for licensing, supervision, and the provides the legal basis for licensing and supervision of domestic crypto-asset service providers.

Vietnam Ranks Among World’s Highest Crypto-Adoption Markets

Vietnam has been one of the most active retail crypto markets in the world. The country has consistently ranked near the top of Chainalysis’s Global Crypto Adoption Index, with reported transaction volumes running into the hundreds of billions of dollars in recent annual cycles.

Vietnam was added to the Financial Action Task Force grey list in 2023 over weaknesses in its anti-money laundering framework, including around virtual assets. The new framework will require licensed firms to verify users, monitor transactions, and file reports in line with international compliance standards.

CAEX Competes With VPBank-Linked and Securities-Backed Rivals for a License

With the licensing window narrowing, domestic financial institutions and offshore crypto firms are moving to secure a place in the pilot. CAEX is one of several VPBank-linked and securities-backed vehicles preparing applications. Haiyang Ru, chief executive of HashKey Exchange BG, tied the investment to the firm’s view of the regional market.

”Vietnam is one of the most vibrant and promising digital asset markets in Asia. […] We are honored to partner with CAEX to pursue a long-term vision of transparency, sustainable development, and trust across the market.”

The CAEX investment places OKX Ventures and HashKey inside one of the platforms preparing for Vietnam’s pilot licensing process, alongside a domestic shareholder base built around VPBankS and LynkiD.