HCMC – Deputy Prime Minister Nguyen Hoa Binh has called on Binance to establish a headquarters in Danang and cooperate closely with the country’s planned international financial center to develop a digital asset exchange.
The proposal was made during Binh’s meeting with Binance General Director Richard Teng in the United Arab Emirates. Binh also invited Teng, who previously headed Abu Dhabi Global Market, to act as a senior advisor for Vietnam’s financial hub project, reported the Government news website (baochinhphu.vn).
Binance, one of the world’s largest digital asset platforms, agreed to share expertise on building regulatory frameworks, developing the digital asset market, and operating international financial centers.
The two sides also witnessed the signing of a memorandum of understanding between Binance and the Danang City government to promote cooperation in blockchain and digital assets.
Vietnam is in the process of piloting a regulatory framework for digital assets while studying the establishment of an international financial center. The central coastal city of Danang has been selected as one of the key locations for financial and technology development.
The deputy prime minister also met with Bybit, the UAE’s largest cryptocurrency exchange with 2.5 million users in Vietnam, which pledged to support the country’s pilot digital asset framework, share international experience and provide training.
In talks with Emaar Properties, the Dubai-based developer of the Burj Khalifa and Dubai Mall, Binh encouraged Emaar to consider both direct and indirect investment through the planned international financial center.
Vietnam is among the world’s top nations by crypto adoption. An estimated 17 million Vietnamese have traded digital assets, placing the country fourth in the 2025 Chainalysis Global Crypto Adoption Index. Howeer, many Vietnamese currently trade through international platforms such as Binance and Bybit, as domestic exchanges remain unlicensed.
The market has grown rapidly despite operating largely in a legal grey zone until recently. In June 2025, the National Assembly passed the Law on Digital Technology Industry, legally defining “crypto assets” and establishing a regulatory framework for them. The new law introduces tax incentives, defines digital assets and AI regulation, and sets an ambitious goal to build 150,000 digital tech firms by 2035.
