Vietnam’s government has officially proposed that Binance open a headquarters in Da Nang and collaborate in launching a digital-asset trading platform within Vietnam’s planned international financial center.
Deputy Prime Minister Nguyễn Hòa Bình expressed hope that Binance would locate a regional base in Da Nang and work with Vietnam’s international financial center to develop a regulated cryptocurrency trading venue. The government also extended an invitation to Binance CEO Richard Teng to serve as a senior advisor in the development of Vietnam’s international financial hub.
Richard Teng has agreed to share Binance’s global experience and cooperate closely in developing Vietnam’s crypto market, drawing also on lessons from establishing financial centers such as in Abu Dhabi.
During the meeting, the Deputy Prime Minister witnessed the signing of a memorandum of understanding (MOU) between Binance and the Da Nang People’s Committee on cooperation in blockchain and digital asset development.
Vietnam is now in the process of building international financial centers in Da Nang and Ho Chi Minh City. The Da Nang center is designated to be a pilot zone with controlled testing (a “sandbox”) for new financial models including digital assets, cryptocurrencies, digital payments and remittances, and to permit the establishment of new exchanges and trading platforms.
Beyond Binance, Deputy Prime Minister Nguyễn Hòa Bình also met with leaders of Bybit, which has more than 2.5 million users in Vietnam and is currently one of the largest crypto exchanges in the UAE. The Bybit leadership welcomed Vietnam’s orientation toward crypto pilots and international financial center development, and offered to assist with legal framework design, share international experience, and help train human capital in Vietnam.
At a separate meeting, representatives of Emaar Properties — a major real estate group with presence in 15 countries — expressed interest in investing in Vietnam. The Deputy Prime Minister affirmed that the government encourages Emaar to invest either directly or indirectly through the international financial centers.
Related
Discover more from Vietnam Insider
Subscribe to get the latest posts sent to your email.
Source: Vietnam Insider