Securities companies race to join digital asset trading floors

Several banks and securities companies have announced that they will join digital asset exchanges in Vietnam.

Cryptocurrency and digital asset trading floors, including cryptocurrencies, in Vietnam are being prepared by ministries and sectors. To anticipate this event, a number of banks and securities companies have announced their participation. Most recently, 3 days ago, VIX Cryptocurrency Trading Floor Joint Stock Company (VIXEX) was announced to be established with a charter capital of 1,000 billion VND, headquartered in Hanoi . Founding shareholders include VIX Securities Joint Stock Company contributing 15%, FTG Vietnam Joint Stock Company contributing 64.5% and 3C Communications - Computer - Control Joint Stock Company contributing 20.5% of capital.

Many securities companies are racing to join digital asset exchanges when there is a decision to allow operations.

PHOTO: DAO NGOC THACH

Thus, VIX Securities Company contributed 150 billion VND to VIEX and can be considered a pioneer in the securities industry to participate in this new field. VIX is currently ranked 5th in the securities industry in terms of charter capital, with 14,585 billion VND. This information helped VIX shares on the HOSE increase to more than 39,000 VND in the session on August 29, up 20% in just one week. This caused many investors to sell to take profits and closed VIC down to 37,700 VND. However, VIX shares have increased 38% after one month.

Previously, SSI Securities Company also attracted attention when the company continuously held seminars related to digital assets and cryptocurrencies. Some member companies of SSI such as SSI Fund Management Company Limited, SSI Digital Technology Joint Stock Company signed cooperation agreements with two digital asset companies Tether, U2U Network and Amazon Web Services (AWS) to promote the construction of a digital financial infrastructure ecosystem, Blockchain and cloud computing in Vietnam. SSI shares at one point increased beyond VND 44,000 in the session on August 29 and closed at VND 42,200, up more than 24% after one month.

Techcom Securities Company (TCBS) also has many moves related to digital asset and cryptocurrency transactions when integrating the crypto asset price list on the Vietnamese stock price list. This corresponds to the leaders of Techcombank also expressing their desire to contribute to building and owning digital platforms in the future when the legal corridor is complete and conditions permit.

According to Mr. Huynh Anh Tuan, Director of Vikki Digital Banking Securities Company, large securities companies or securities companies affiliated with banks will not stand aside when Vietnam's digital asset trading floor is established. At least the companies have enough capacity and conditions to participate as trading brokers (similar to securities trading). This is positive information that contributes to attracting the attention of investors in the group of securities stocks, along with the possibility that the Vietnamese stock market will be upgraded this year.

The Ministry of Finance is currently drafting a Government Resolution on piloting the issuance and trading of crypto assets and digital assets, including cryptocurrencies. According to the draft, organizations operating digital asset trading floors must have a minimum capital of VND 10,000 billion. Of which, at least 35% of the capital must be held by two or more organizations in the banking, securities, fund management, insurance or technology groups; the remaining 65% is owned by other organizations...

Source: https://thanhnien.vn/cong-ty-chung-khoan-chay-dua-tham-gia-san-giao-dich-tai-san-so-185250829164942855.htm