Bybit CEO Ben Zhou met with Vietnam's Finance Minister Nguyen Van Thang on April 17 to discuss potential collaboration in the digital asset space. The meeting highlights Vietnam's growing interest in regulating and fostering its digital asset market, as well as Bybit's commitment to transparency and cooperation with regulatory bodies. This move comes as Vietnam ranks fifth globally in crypto adoption, signaling a significant opportunity for growth and development in the region.
Discussions with Vietnam's Finance Ministry
During the meeting, Bybit CEO Ben Zhou expressed a strong desire to cooperate with and invest in Vietnam's burgeoning digital asset market. The panels were a deep dive into how Bybit can become a force for good in these critical sectors. These are training, risk control systems, operational procedures and finally, drafting a clear legal framework for digital assets. In turn, Minister Nguyen Van Thang welcomed the interest and willingness to cooperate with Bybit. He urged Congress to address major questions involving the regulation of digital assets.
The Ministry of Finance highly appreciates Bybit’s goodwill in proposing cooperation and support in areas such as training, developing risk control systems, building operational procedures for exchanges, and establishing a legal framework. These are all critical issues that require serious attention and thorough implementation. - Minister Nguyen Van Thang
Bybit's transparency and its policy of maintaining user asset backing on a 1:1 basis were key factors contributing to the success of the meeting. The Vietnamese government is intensifying its war on digital assets. It is looking into plans to establish pilot digital asset trading exchanges in cities including Ho Chi Minh City and Da Nang.
Private Meeting with SSI Securities Corporation CEO
Bybit CEO Ben Zhou with Singapore’s Finance Minister. He convened a private roundtable with Nguyen Duy Hung, chief executive of SSI Securities Corporation. As an authorized participant in the crypto space, SSI Securities Corporation has been long-time advocates of this sector. In fact, just last month they launched a new $200 million fund to help nurture local crypto startups. SSI has entered partnerships with Tether along with KuCoin to promote ecosystem development for blockchain startups in Vietnam.
Different generations, different journeys — I’ve spent my life in traditional finance, while Ben is one of the pioneers shaping the world of crypto. Tonight, we sat down at my home and shared stories about the future of finance — where tradition and innovation meet to create lasting value. - Nguyen Duy Hung
As seen in this private meeting, there seems to be a wider effort to harmonize the established finance system with this growing digital asset market in Vietnam. These on-the-ground talks may lead to deeper, more productive, and fruitful partnerships and investments that stoke the engine of Vietnam’s growing crypto ecosystem.
Bybit's Expansion into Vietnam's Digital Asset Market
Bybit is making a big splash into Vietnam’s burgeoning digital asset scene. This exploration comes on the heels of the country’s rapid ascendance as a leader in crypto adoption. This was compounded by Bybit recently losing more than $1.5 billion due to a hack. Still, the company is committed to transparency and security while rehabilitating its image and trust with users and regulators. Bybit's proactive engagement with Vietnamese authorities and key industry players signals a strategic move to establish a strong presence in this promising market.
