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.

A cryptocurrency exchange, including digital assets such as digital currencies, is being prepared for launch in Vietnam by various ministries and agencies. To capitalize on this event, several banks and securities companies have announced their participation. Most recently, three days ago, VIX Cryptocurrency Exchange Joint Stock Company (VIXEX) was announced with a charter capital of 1,000 billion VND, headquartered in Hanoi . The founding shareholders include VIX Securities Joint Stock Company contributing 15%, FTG Vietnam Joint Stock Company contributing 64.5%, and 3C Communication - Computer - Control Joint Stock Company contributing 20.5%.

Many securities companies are racing to join digital asset exchanges once they are allowed to operate.

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 currently ranks 5th in the securities industry in terms of charter capital, with 14,585 billion VND. This information helped VIX shares on the HOSE exchange surge to over 39,000 VND on August 29th, a 20% increase in just one week. This caused many investors to sell to take profits, closing VIC down to 37,700 VND. Nevertheless, VIX's share price has increased by 38% after one month.

Previously, SSI Securities Company also attracted attention for its continuous seminars related to digital assets and cryptocurrencies. Several SSI member companies, such as SSI Fund Management Company Limited and SSI Digital Technology Joint Stock Company, signed cooperation agreements with two digital asset companies, Tether and U2U Network, and Amazon Web Services (AWS), to promote the development of a digital financial infrastructure, Blockchain, and cloud computing ecosystem in Vietnam. SSI shares at one point rose above 44,000 VND on August 29th and closed at 42,200 VND, an increase of over 24% in one month.

Techcombank Securities (TCBS) has also taken steps related to digital asset and cryptocurrency trading by integrating cryptocurrency price lists into its Vietnamese stock price board. This coincides with Techcombank 's leadership expressing their desire to contribute to building and owning digital platforms in the future when the legal framework is complete and conditions permit.

According to Mr. Huynh Anh Tuan, Director of Vikki Digital Bank Securities Company, large securities companies or securities companies affiliated with banks will not be left out when Vietnam's digital asset exchange is established. At least, these companies have sufficient capacity and conditions to participate as brokerage firms (similar to securities trading). This is positive information that contributes to attracting the attention of investors to securities stocks, alongside the possibility of the Vietnamese stock market being 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 exchanges must have a minimum capital of 10,000 billion VND. Of this, at least 35% of the capital must be held by two or more organizations belonging to the banking, securities, fund management, insurance, or technology sectors; the remaining 65% must be owned by other organizations...

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