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Vietnam Courts Binance and Bybit for Crypto Sandbox and Da Nang Finance Hub

Officials are engaging global exchanges to shape a tightly controlled pilot alongside a proposed International Financial Center in Da Nang.

Vietnam pushes digital asset strategy with binance and bybit partnerships

Overview

  • Bybit said its top executives met Deputy Prime Minister Nguyen Hoa Binh in Dubai on September 24 and were invited to apply to Vietnam’s sandbox and join the IFC program.
  • Bybit pledged to work with regulators, share compliance best practices, and help train local blockchain talent, noting it serves about 2.5 million users in Vietnam.
  • Binance signed a memorandum of understanding with the Da Nang People’s Committee to cooperate on blockchain and digital asset development.
  • Vietnam’s deputy prime minister urged Binance to set up an office and trading platform in Da Nang, and CEO Richard Teng agreed to serve as a senior advisor for the IFC initiative.
  • These steps reflect active industry engagement following policy announcements, with cooperation underway but no public disclosure of pilot licenses or detailed implementation timelines.