Ho Chi Minh City Finance Department and Binance Partner on International Financial Center Plan

The 2025 Autumn Economic Forum agreement aims to develop Vietnam’s legal blockchain framework, support digital asset initiatives, and enhance regulator capabilities.

Summary

The Ho Chi Minh City Finance Department and Binance signed a memorandum of understanding during the 2025 Autumn Economic Forum to assist Vietnam in establishing an international financial center. The agreement includes developing legal frameworks for blockchain, providing sandbox support for digital asset projects, attracting investors, fostering small and medium-sized enterprise initiatives, and offering training for regulators.

Terms & Concepts
  • Memorandum of Understanding (MOU): A formal but non-binding agreement that outlines the intentions and terms between two or more parties.
  • Blockchain: A decentralized digital ledger that records transactions across a network of computers securely and transparently.
  • Sandbox (regulatory testing environment): A framework allowing innovative digital asset projects to operate under relaxed regulations for testing purposes before full market launch.