Ho Chi Minh City is taking another significant step towards launching an international financial center in the city. On November 26th, the Ho Chi Minh City Department of Finance signed a cooperation agreement with Binance, one of the world's largest players in the blockchain and digital asset space. The signing took place during the Autumn Economic Forum 2025, held in Ho Chi Minh City from November 25-27.
Two Future Financial Centers of Vietnam
The national strategy envisions the creation of two international financial centers:
- in Ho Chi Minh City — as a key platform for attracting global capital;
- in Da Nang — with a focus on international services and new digital industries.
Ho Chi Minh City plans to launch the center as early as December 2025.
What Cooperation with Binance Provides
The signed agreement includes four areas:
- Attracting international investors and funds.
- Developing a modern legal framework for digital assets, blockchain, and electronic payments.
- Creating a test “sandbox” — an environment where innovative projects can operate under the supervision of regulators before the adoption of official rules.
- Supporting startups and technology companies using digital technologies, AI, and fintech solutions.
Context and Significance
This is Ho Chi Minh City's second major international agreement with global financial structures in a short period: in October, the city signed a memorandum with Nasdaq, the largest electronic stock exchange in the United States.
Cooperation with Binance will give Ho Chi Minh City access to international expertise — from regulating digital assets and electronic payments to creating the infrastructure that supports global fintech services. Binance has already gone through this process in other countries and understands which rules and solutions actually work in the real economy.
Currently, many fintech and crypto companies prefer to operate through countries with an already established regulatory framework for digital finance, such as Singapore. Creating an international financial center in Ho Chi Minh City will give them the opportunity to come directly to Vietnam, which will increase the inflow of quality investments and bring the city closer to its goal of becoming one of the key financial centers in the region.