Key Highlights
- HCM City and Binance sign MoU to support the Vietnam International Financial Centre, focusing on digital asset regulations and innovation.
- Plan includes a regulatory sandbox, training for regulators, and support for start-ups and SMEs in blockchain and fintech.
- Cooperation aims to enhance global investment links and position HCM City as a leading regional financial and technology hub.
Vietnam’s Ho Chi Minh City has taken another step toward its goal of becoming a major financial hub in the region. On Wednesday, the city’s Department of Finance signed a memorandum of understanding with Binance, the global blockchain and digital asset company, to support the development of the Vietnam International Financial Centre in the city.
The signing took place during the Autumn Economic Forum 2025 and was witnessed by Prime Minister Pham Minh Chinh, senior city officials, ministry representatives and several international investment funds.
Strengthening the city’s financial ambitions
Ho Chin Minh (HCM) City is one of two locations selected by the government to host Vietnam’s future international financial centres.
Local authorities see the project as a way to build a stronger base for finance, technology and innovation, and the agreement with Binance is expected to draw fresh interest from investment funds, financial institutions and global technology players.
A key part of the cooperation is helping the city build clearer rules for digital assets and blockchain activity, something officials say is necessary as Vietnam moves toward a more modern financial structure.
Testing new ideas under supervision
The agreement also includes a plan to create a regulatory sandbox for digital asset projects. This would give companies a supervised space to try out new products and business models once the legal groundwork is in place.
According to city officials, the sandbox is meant to encourage innovation while ensuring that all activities remain transparent and follow the rules already in force.
Backing start-ups and growing businesses
Beyond attracting major investors, the partnership includes support for SMEs and start-ups working with digital tools, blockchain solutions and financial technology.
Companies taking part in the programme will get support on everything from building the right digital infrastructure to meeting regulatory requirements and following international standards.
The partnership will also allow the city to look at how artificial intelligence can be used together with blockchain, giving another boost to Ho Chi Minh City’s fast-growing innovation sector.
Focus on training and oversight
To make sure the agreement moves forward as planned, the two sides will form a joint working group to oversee the rollout and handle any issues that come up. The team will meet at least twice a year to review progress and make adjustments when necessary.
The cooperation also involves a series of training programmes, workshops and exchanges with international specialists, aimed at helping Vietnamese regulators build stronger skills in supervising digital finance. Once the official operating body for the financial centre is formed, the MoU will be transferred to it for ongoing implementation.
Binance’s global position
Binance, one of the world’s largest digital asset platforms by trading volume, has been expanding its presence in several regions as countries explore new frameworks for blockchain and digital finance.
The company has repeatedly stated that it aims to take part in policy discussions and long-term planning in markets where it operates, and its cooperation with HCM City reflects growing interest in Southeast Asia’s financial and technological development.
A step toward Vietnam’s long-term vision
City officials said they expect the agreement to boost regulatory capacity, improve global connectivity and draw higher-quality investment into Vietnam’s financial and technology sectors.
According to the city, the partnership “opens a new phase of deeper cooperation between HCM City and Binance” and demonstrates the city’s broader goal of building a transparent and competitive international financial centre linked to global capital markets.
Vietnam hopes the combination of international expertise and local innovation will help Ho Chi Minh City position itself as a serious financial and technology hub in the region.
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