Vietnam has begun to accept applications from Tuesday onwards from firms to allow for crypto-asset trading through licensing, as per a report by english language daily Vietnam News.
The update comes after the Southeast Asian nation rolled out a 5-year cryptocurrency pilot program in September 2025, a formal scheme for digital asset operators to open their businesses in the country. The relevant procedures for applications were listed in the initial documentation included as part of the rollout.
A later report suggested that activity on the digital asset front for the country was relatively quiet, with no relevant proposals submitted to the Ministry of Finance by October 2025. Now, there are 10 securities and banking firms that have announced their intention to take part in the market once they get their licenses.
Right now, it takes five steps for a company to apply and get the required licensing and a total of 30 days for the process if all required documents are submitted on time, suggesting that cryptocurrency exchanges and firms could, in theory, enter the market within a month of this update.