Vietnam’s Finance Minister Nguyen Van Thang met with Bybit CEO Ben Zhou on April 17 at the Ministry’s headquarters to tell about ability cooperation in the digital asset verbalize.
The assembly marked a fundamental step forward in fostering cooperation to assemble an ethical framework for digital resources. It also developed the idea to attach Vietnam’s first digital asset alternate.
Bybit and Vietnam Explore Crypto Opportunities
Per the legit portal of the Ministry of Finance, Ben Zhou, co-founding father of Bybit, and his delegation met with leaders from varied departments of the Ministry on the morning of April 17.
The Ministry reported that Zhou is at the 2nd exploring Vietnam’s digital asset market and expressed his desire to cooperate with and put money into the nation.
All over the assembly, Zhou also addressed a most fresh safety breach, by which Bybit misplaced approximately $1.5 billion attributable to a hack. On the opposite hand, he emphasized that every one investors on the platform were completely reimbursed.
The CEO said the incident didn’t hang an influence on users or trigger any fundamental disruption. This , in response to Zhou, became possible attributable to Bybit’s transparency and uninterrupted withdrawal services and products. He notorious that particular person resources on Bybit are backed on a 1:1 foundation.
Meanwhile, Minister Nguyen Van Thang most well-liked Bybit’s cooperative intentions. He acknowledged the snappily world mutter of blockchain skills and digital resources, including in Vietnam, where the market is expanding fast and shows nice ability.
The Minister also highlighted Vietnam’s efforts to submit a pilot dedication to the federal government. This dedication targets to attach a regulated alternate for digital resources in Vietnam. The Ministry welcomed Bybit’s proposal to support training, operational direction of pattern, risk support an eye on, and ethical framework plan in the nation.
“The Ministry of Finance highly appreciates Bybit’s goodwill in proposing cooperation and support in areas such as training, developing risk support an eye on systems, constructing operational procedures for exchanges, and organising an ethical framework. These are all serious points that require extreme attention and thorough implementation,” Minister Thang said for the period of the assembly.
To boot to his assembly with the Ministry of Finance, Ben Zhou met privately with Nguyen Duy Hung, CEO of SSI Securities Corporation. They discussed the manner forward for finance and digital resources. SSI is undoubtedly one of many oldest securities companies working in Vietnam’s stock market.
Lately, SSI partnered with Tether and KuCoin to promote blockchain startups in Vietnam. The firm also announced the start of SSI Digital Ventures, an investment arm with an preliminary capital of $200 million. This fund can also grow to $500 million as SSI continues collaborating with extra partners to support blockchain startups in Vietnam.
“Totally different generations, utterly different journeys — I’ve spent my existence in mature finance, whereas Ben is undoubtedly one of many pioneers shaping the area of crypto. Tonight, we sat down at my dwelling and shared reviews in regards to the manner forward for finance — where custom and innovation meet to assemble lasting payment,” Nguyen Duy Hung said.
Vietnam Races to Procure Correct Framework for Crypto
The Vietnamese government is at the 2nd accelerating efforts to support an eye on digital resources.
In January 2025, the Top Minister instructed officials to classify utterly different kinds of digital resources. The government also proposed piloting digital asset exchanges in Ho Chi Minh Metropolis and Da Nang. The scheme is to assemble a transparent trading atmosphere, lower investor risk, and dwell unlawful activities such as money laundering.
Additionally, Frequent Secretary To Lam formally assigned One Mount Community to procure a Layer 1 blockchain network, “Execute in Vietnam,” with an investment of as a lot as $500 million.
The meetings between Bybit, the Ministry of Finance, and SSI signify a rare 2nd of engagement between the Vietnamese government and a fundamental crypto firm. This comes at a time when crypto trading easy operates in an ethical grey verbalize.
Per Chainalysis, Vietnam ranked 5th globally in the 2024 Global Crypto Adoption Index. The nation now has over 17 million crypto asset holders, and blockchain-related capital flows reached extra than $105 billion between 2023 and 2024.
