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Vietnam to pilot crypto exchange in 2025, backed by 21.2% ownership, with Bakkt expanding in Japan.
ByAinvest
Wednesday, Aug 6, 2025 9:20 pm ET1min read
Vietnam to pilot crypto exchange in 2025, backed by 21.2% ownership, with Bakkt expanding in Japan.
Vietnam is set to pilot a crypto exchange in 2025, backed by legal reforms and a 21.2% national crypto ownership rate. This move is part of the country's broader efforts to establish an international financial center, featuring digital asset trading platforms. The initiative is expected to be operational by the end of 2025, with the Digital Technology Industry Law recognizing crypto assets as distinct from virtual assets taking effect in January 2026 [2].The regulatory sandbox will operate in Ho Chi Minh City and Da Nang, potentially attracting major exchanges. South Korea’s Upbit is already exploring market entry in Vietnam, signaling international confidence in the emerging regulatory framework. Vietnam ranked 5th in Chainalysis’s 2024 Global Crypto Adoption Index, down from 1st place in the 2022 survey [2].
Simultaneously, Bakkt is expanding into Japan, rebranding Marusho Hotta to bitcoin.jp and launching a Bitcoin treasury strategy. The Japanese firm will be rebranded as "bitcoin.jp" pending shareholder approval, with Bakkt securing the matching web domain. Phillip Lord, President of Bakkt International, will assume CEO duties and integrate Bitcoin into the company’s treasury strategy. The move follows Bakkt’s recent $75 million equity raise and $1 billion shelf offering to fund Bitcoin purchases, marking its pivot from crypto infrastructure to direct Bitcoin treasury operations [2].
These developments indicate a growing trend of institutional adoption and regulatory acceptance in the crypto market, with Vietnam and Japan leading the way. As the industry continues to evolve, these initiatives are poised to shape the future of digital asset trading and investment.
References:
[1] https://www.ainvest.com/news/cryptocurrency-exchange-bullish-files-629m-ipo-crypto-market-recovery-2508/
[2] https://beincrypto.com/vietnam-pilots-crypto-exchange-and-bakkt-expands-and-more/
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