What CAEX does

CAEX (Vietnam Prosperity Crypto Asset Exchange Joint Stock Company) is a Vietnam-domiciled crypto asset exchange operator incorporated on 19 September 2025 and headquartered in Hanoi. It is positioned as Vietnam's first domestically-backed, regulated crypto exchange operating under the government pilot framework established by Resolution 05/2025/NQ-CP, and is currently in the licensing process with the Ministry of Finance. The company is founded within the VPBank ecosystem, with VPBank Securities (VPBankS) and LynkiD as founding shareholders, and was subsequently joined by OKX Ventures and HashKey Capital as strategic investors in April 2026.

CAEX's core product is a consumer-facing crypto asset trading web platform (caex.com.vn) built on institutional-grade exchange technology licensed exclusively from HashKey Digital Asset Group. The platform features end-to-end encryption, cold wallet custody, Hardware Security Module (HSM) infrastructure, millisecond order matching, VND-denominated transaction settlement, AML/KYC/KYB compliance, customer asset segregation, and Level 4 IT security standards required under Vietnamese regulation. The GTM approach combines a self-serve direct-to-consumer web channel with B2B2C distribution through the VPBank ecosystem, providing access to VPBank's 30M+ customer base.

The business model is transaction-fee based on crypto trades executed on the exchange, consistent with Vietnam's planned 0.1% transaction tax framework. The addressable market is Vietnamese retail and institutional investors, estimated at approximately 20 million digital asset traders, against a domestic crypto trading volume backdrop of $200 billion+ annually, the majority of which is currently captured by unregulated foreign platforms (Binance, OKX, Bybit). CAEX is one of only five firms to clear preliminary evaluation for Vietnam's licensed crypto exchange pilot, which caps foreign ownership at 49% and limits total licensed providers to five, creating a structurally protected domestic competitive position.

Name

CAEX

Legal name

Vietnam Prosperity Crypto Asset Exchange Joint Stock Company

Website

https://caex.com.vn

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

101–250 employees

Short description

CAEX is a Vietnam-based crypto asset exchange operating under Resolution 05/2025/NQ-CP, serving Vietnamese retail and institutional investors with a VND-settled, AML-compliant trading platform built on technology licensed from HashKey, and backed by VPBank, OKX Ventures, and HashKey Capital.

Ownership category

akta.pro rank

Product category

Crypto Asset Exchange

NAICS

Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

akta.pro secondary industries

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), KYC/KYB Identity Verification & Onboarding (FSADALAA)

Keywords

• Regulated crypto exchange
• Digital asset trading
• VND settlement platform
• Institutional-grade exchange
• AML compliant trading

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Crypto Asset Trading Fees: CAEX generates revenue primarily through transaction fees on crypto asset trades executed on its exchange platform. Vietnam's government plans to implement a 0.1% transaction tax on crypto trades as part of the regulatory framework.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

CAEX operates a Vietnam-domestic, government-pilot-qualified crypto asset exchange platform providing VND-denominated digital asset trading for Vietnamese retail and institutional investors. The platform features Level 4 IT security, millisecond order matching, AML/KYC/KYB compliance, customer asset segregation, and is built on HashKey's institutional-grade exchange technology licensed exclusively for the Vietnamese market. CAEX is currently in the licensing process with the Ministry of Finance under Resolution 05/2025/NQ-CP.

Product overview

CAEX operates a single unified crypto asset exchange platform compliant with Vietnamese law under Resolution 05/2025/NQ-CP. The platform is currently in the licensing process with the Ministry of Finance and provides a safe, transparent, and legally compliant trading environment for Vietnamese investors. Key infrastructure is powered by HashKey's institutional-grade exchange technology through a strategic technology partnership, with strategic support from founding shareholders VPBank Securities and LynkiD alongside investment partners OKX Ventures and HashKey Capital.

Differentiator

Problem solved

Functional benefit

Products and services

• CAEX Crypto Asset Exchange Platform A Vietnam-domestic crypto asset exchange platform operating under Resolution 05/2025/NQ-CP that provides a safe, transparent, and legally compliant trading venue for Vietnamese retail and institutional investors, with VND-denominated settlement, multi-layer security (end-to-end encryption, cold wallet storage, HSM), millisecond-order matching, 24/7 professional support, KYC/KYB/AML compliance, and customer asset segregation. The platform is built on HashKey's institutional-grade exchange technology licensed exclusively for the Vietnamese market and is currently in the licensing process with Vietnam's Ministry of Finance.

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• State Securities Commission of VietnamcoreOthers · 4 June 2026CAEX participated in a high-level executive roundtable titled 'Vietnam's Path to a Trusted Digital Asset Ecosystem' convened at Unchained Summit Vietnam 2026 in Da Nang, Vietnam. Participants agreed to explore establishing an ongoing industry engagement working group with the State Securities Commission to provide a structured channel for regulatory dialogue and input into Vietnam's digital asset market framework.
• HashKey Digital Asset GroupcoreTechnology or Integration · 22 April 2026CAEX and HashKey Digital Asset Group entered a strategic technology partnership granting CAEX exclusive rights to deploy HashKey's institutional-grade exchange technology within Vietnam. HashKey provides end-to-end support in platform architecture, security, and compliance systems, and leads development of a customized, fully localized exchange platform for CAEX. The signing ceremony was held at Hong Kong Web3 Festival 2026.
• VPBank (Vietnam Prosperity Joint Stock Commercial Bank)coreStrategic or Co-development Partner · 14 April 2026VPBank and OKX signed a strategic cooperation agreement to advance a transparent, safe, and sustainable crypto asset market in Vietnam, with CAEX as the starting point. VPBank contributes its comprehensive financial ecosystem, market understanding, and domestic operational capability, while OKX provides technology solutions, governance experience, and liquidity connectivity. CAEX is considered the starting point of this broader cooperation.
• VPBank Securities (VPBankS)coreStrategic or Co-development Partner · 1 October 2025VPBank Securities (VPBankS, ticker: VPX), a member of VPBank ecosystem, is a founding shareholder and key strategic partner of CAEX. VPBankS contributes financial strength, governance, and investment expertise to the exchange. The partnership was formalized through an MOU signing ceremony in October 2025.
• LynkiDcoreStrategic or Co-development Partner · 1 October 2025LynkiD, a technology partner within the VPBank ecosystem, is a founding shareholder of CAEX. LynkiD supports digital identity, user experience, and core platform infrastructure to ensure secure, fast, and seamless operations for the firm.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• OKX: OKX is one of the world's largest centralized crypto exchanges and a strategic investor/partner of CAEX. It is broadly comparable as a spot and margin exchange operator with global reach, providing CAEX with the liquidity and infrastructure template for the Vietnamese market.
• Binance: Binance is the largest global centralized crypto exchange and currently captures a meaningful portion of Vietnamese crypto trading volume through offshore access. It is the primary incumbent CAEX is positioned to displace once Vietnam restricts unlicensed foreign platforms.
• Crypto.com: Crypto.com is a global regulated crypto exchange and platform serving both retail and institutional clients. It is broadly comparable as a mainstream, compliance-oriented exchange competing on regulated access to digital assets for retail users.
• Coinbase: Coinbase is a US-based publicly listed, fully regulated centralized crypto exchange. It is comparable to CAEX as a compliance-first, bank-integrated exchange model and serves as a benchmark for what a mature licensed exchange business looks like.
• Bybit: Bybit is a major global centralized crypto derivatives and spot exchange that, alongside Binance and OKX, currently captures the majority of Vietnamese retail crypto trading. It represents the type of incumbent volume CAEX is positioned to redirect domestically.

Regional players

• Indodax: Indodax is Indonesia's largest licensed cryptocurrency exchange and is comparable as a Southeast Asian domestic regulated exchange serving retail traders in a populous emerging market with high crypto adoption.
• Bitkub: Bitkub is the largest licensed crypto exchange in Thailand, dominating that country's domestic crypto trading market under local regulatory oversight. It is the closest Southeast Asian peer for a bank-and-regulation-backed licensed domestic exchange model.
• Upbit: Upbit is South Korea's largest licensed crypto exchange, operating under strict domestic regulation with bank-integrated KRW on/off-ramps. It is a strong comparable for CAEX's VND settlement, AML/KYC, and bank-partner-integrated exchange model in an Asian regulated market.
• Korbit: Korbit is a South Korean regulated crypto exchange and one of the country's first licensed venues. It is comparable as an established Asian regulated exchange that built its model on bank partnerships and compliance-grade infrastructure.

Direct peers

• HashKey Exchange: HashKey Exchange is a Hong Kong-based, SFC-licensed centralized crypto exchange using the same institutional-grade technology stack CAEX has exclusively licensed for Vietnam. It is the closest direct comparable as a licensed, compliance-first, bank-backed exchange targeting institutional and retail clients in a regulated Asian market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors4 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CAEX