On November 26, 2025, Binance, one of the world's largest cryptocurrency exchanges, signed a memorandum of understanding (MOU) with the Ho Chi Minh City Department of Finance to support the development of Vietnam's International Financial Centre (VIFC). The signing ceremony took place at the Autumn Economic Forum 2025, attended by Vietnam's Prime Minister Pham Minh Chinh, HCMC municipal leaders, representatives from various ministries, and international investment funds.
This partnership aims to transform Ho Chi Minh City into a global financial hub by 2030, leveraging digital assets, blockchain technology, and fintech solutions. Key objectives include attracting international investors and financial institutions, developing comprehensive digital asset regulations, building cryptocurrency-based payment systems, and supporting startups in blockchain, artificial intelligence, and fintech. A joint working group will be established to monitor progress, meeting twice annually, and a sandbox environment will be created for safe testing of blockchain projects.
The collaboration also involves training programs for regulators, students, and professionals to enhance expertise in digital finance. This initiative follows HCMC's earlier MOU with Nasdaq in October 2025, reinforcing Vietnam's commitment to integrating with global financial markets and establishing clear, secure crypto regulations.
