Vietnam's Blockchain Ambitions Take Shape with Binance HQ in Da Nang

Vietnam’s Standing Deputy Prime Minister Nguyen Hoa Binh has invited Binance, the world’s largest cryptocurrency exchange by trading volume, to establish a headquarters in Da Nang as part of the country’s broader efforts to develop a blockchain-driven financial ecosystem. During a meeting in the UAE on September 24, 2025, Binance CEO Richard Teng agreed to collaborate with Vietnam’s International Financial Center (IFC) to deploy a crypto asset exchange and serve as a senior advisor for the project. The two parties also signed a memorandum of understanding (MoU) to advance blockchain technology and digital asset development in Da Nang Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1].

The MoU outlines a strategic partnership to build infrastructure for digital assets, including a sandbox mechanism for testing new financial models such as cryptocurrency payments and tokenized assets. Vietnam’s IFC, which aims to become a regional financial hub, is piloting a five-year digital asset market framework. This initiative aligns with the government’s goal to attract foreign investment and position Da Nang as a center for fintech innovation Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1]. Binance, which processes over $16 billion in daily transactions and serves 280 million global users, has pledged to share expertise in regulatory compliance and market development Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1].

Vietnam’s national blockchain strategy, unveiled in 2025, underscores the government’s commitment to fostering a robust digital economy. The strategy emphasizes legal framework development, infrastructure investment, and international collaboration to position Vietnam as a leading blockchain hub by 2030. Key objectives include establishing 20 reputable blockchain brands, creating three testing centers in major cities, and integrating blockchain into sectors like finance, logistics, and public services . Deputy PM Ho Duc Phoc, who signed the strategy, highlighted the technology’s potential to enhance transparency and economic efficiency .

Binance’s involvement follows a broader trend of international crypto firms engaging with Vietnamese regulators. Bybit, another major exchange, has also expressed support for Vietnam’s digital asset ambitions, with CEO Ben Zhou pledging to assist in developing a legal framework and training local talent. Bybit, which holds 15% of Vietnam’s crypto market, has over 2.5 million users in the country Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1]. The government’s sandbox approach allows domestic and foreign firms to experiment with crypto models under controlled conditions, reducing barriers for innovation Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1].

Vietnam’s digital asset adoption is already among the highest globally, with 21 million users—nearly 20% of the population—according to Chainalysis. The country’s annual crypto inflows reached $120 billion in 2024, reflecting strong demand for decentralized financial services. Local institutions, including banks and securities firms, are preparing to launch regulated exchanges, signaling a shift from the informal crypto market to a structured ecosystem Vietnam's Deputy PM asks Binance to open headquarters in Danang^[1].

The collaboration with Binance represents a pivotal step in Vietnam’s strategy to integrate blockchain into its economic fabric. By leveraging Binance’s global experience and regulatory expertise, the country aims to accelerate the development of a secure, scalable digital asset infrastructure. This partnership, alongside efforts to align with international standards and foster public-private dialogue, positions Vietnam to compete with regional blockchain hubs like Singapore and Hong Kong. As the National Blockchain Strategy gains momentum, the government’s focus on legal clarity and innovation could transform Da Nang into a global fintech destination .