OKX and HashKey Back CAEX to Secure Spot in Vietnam's Regulated Crypto Pilot

OKX Ventures and HashKey have joined VPBank Securities and LynkiD as shareholders in CAEX, a crypto platform integrated into the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) ecosystem. The investment is specifically designed to help CAEX reach the mandatory charter capital threshold of 10 trillion dong, approximately $380 million. This capital injection is critical for CAEX to qualify for a five-year crypto pilot program managed by Vietnam’s Ministry of Finance and the State Securities Commission. The regulatory framework is highly restrictive, limiting the number of licensed exchanges to just five and capping foreign ownership at 49%. To further ensure stability, the pilot requires that at least 65% of capital be held by institutional shareholders. These high barriers to entry are intended to professionalize the sector following a surge in crypto adoption—ranking Vietnam fourth globally in 2025—which was accompanied by significant fraud and scams, including recent investigations into ONUS-linked suspects. For offshore exchanges, the stakes are high. Vietnamese authorities have indicated they may block access to unlicensed overseas platforms once the domestic licensed exchanges become operational. By partnering with a bank-backed entity like CAEX, OKX and HashKey are positioning themselves to maintain a compliant presence in one of the world's most active crypto markets.