Friday, June 2, 2023

$100M AEX Blockchain Fund for Vietnam


AEX Exchange, a prominent digital asset management and blockchain custody company, has announced the formation of a $100 million fund to encourage blockchain development in Vietnam.

The fund, dubbed the “National Plan,” will help Vietnam’s budding blockchain sector flourish faster. Its mission is to incubate high-quality innovations while also assisting crypto-financial enterprises in achieving regulatory compliance.

According to AEX, the company also intends to sell crypto financial derivatives in Vietnam. At the same time, create an office there.

Vietnamese Blockchain System Growth

AEX’s Chief Brand Officer is Shergina Asya. According to her, Southeast Asia, which includes Vietnam, is critical to the AEX Global Ecosystem Layout. They plan to set up a $100 million special assistance fund in Vietnam to help the country’s blockchain ecosystem grow.

AEX has offices in the United States, Canada, Thailand, Vietnam, Russia, Turkey, South Korea, Nigeria, and Indonesia. It was founded in 2013. AEX commits to providing its customers with safe investments and consistent additional value.

It also comprises the provision of encryption licenses and suitable operational frameworks for users’ protection. AEX is a cryptocurrency exchange with over 300 cryptocurrencies and over a million active users.

They claimed that Vietnam, which has implemented reforms and opened up, benefits greatly from the demographic dividend of young people. It is also the country with the world’s fastest growing number of wealthy people.

According to reports on Vietnam’s recruitment and labor market, the blockchain business has seen a 140 percent surge in demand in recent years. This demonstrates that the blockchain and cryptocurrency craze has swept Vietnam.

The demographic dividend of young people provides a substantial income to Vietnam, which has launched reforms and openness. It is also the country with the world’s fastest-growing population of wealthy people.

According to reports on Vietnam’s recruitment and labor market, the blockchain business has seen a 140 percent surge in demand in recent years. It demonstrates that the blockchain and cryptocurrency craze has swept Vietnam.

The business also stated that utilizing the creative potential of Vietnam’s blockchain sector will be a crucial component of any approach. This is in order to increase its presence in Southeast Asia.

Given the fast-growing industry in Vietnam and the popularity of Axie Infinity, whose development team is based there.

Launch of Viatnamese Blockchain Technology Competition

AEX plans to launch the Vietnamese Blockchain Technology Competition and Hackathon in Q3 2022, in addition to the crypto development fund.

In related news, last year the Vietnamese Ministry of Finance created a research group. Its primary goal will be to assist the country’s central bank in developing its own digital currency (CBDC). The trial program schedules to run until 2023. Vietnam’s Prime Minister, Pham Minh Chinh, has spearheaded this endeavor, requesting that the country’s central bank oversee the blockchain research program.

Louis Honsa
Louis Honsa
Louis Honsa is an independent writer for Cryptoconstellation. He is a data analyst and trades NFT’s too. Louis enjoys cycling and working out in his free time.

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