OKX Ventures and HashKey Capital have made a strategic investment in the Vietnam Prosperity Crypto Asset Exchange (CAEX), positioning the platform to qualify for Vietnam's new pilot program for regulated cryptocurrency trading. The investment, announced on Friday, will bring CAEX's capital base to VND 10 trillion (approximately $380 million), meeting the minimum threshold required by the government.
The move is a direct response to Vietnam's accelerating regulatory push, formalized by the Digital Technology Industry Law that took effect in January 2026. This law officially recognizes crypto assets and establishes a legal framework for licensing and oversight. Regulators are now implementing a five-year pilot program, expected to grant licenses to no more than five domestic exchanges, with the goal of shifting an estimated $200 billion in annual retail crypto activity onshore and restricting access to offshore platforms.
CAEX is embedded within the VPBank ecosystem, with founding shareholders including VPBank Securities (VPBankS) for financial backing and governance, and digital-identity firm LynkiD for core technology. The partnership with OKX Ventures and HashKey Capital is intended to bolster CAEX's infrastructure, security, compliance, and liquidity capabilities to meet stringent regulatory standards.
The regulatory framework sets high barriers to entry, including a 49% cap on foreign ownership and a requirement that at least 65% of capital be held by institutional shareholders. This creates a race for early positioning among both local financial institutions and global crypto firms. A key motivator for Vietnam's crackdown is its 2023 placement on the Financial Action Task Force's (FATF) "grey list" for weak anti-money laundering controls, particularly concerning virtual assets.
An OKX spokesperson confirmed the investment enables CAEX to pursue entry into the pilot program but declined to disclose the investment size or stake details, citing the ongoing regulatory process. The spokesperson emphasized Vietnam as an important market for digital asset innovation and viewed the development of a regulated framework as a constructive step for the industry.
