HCM City is now moving closer to its big dream of becoming an international financial hub. The city has teamed up with Binance, one of the world’s largest crypto exchanges, has signed a memorandum of understanding (MOU) with Binance on November 26, 2025.
This partnership is expected to bring more investment, technology, and growth into Vietnam’s finance and crypto space.
HCM City’s Vision for a Global Financial Centre
Ho Chi Minh (HCM) City is one of the two main locations chosen for Vietnam’s International Financial Centre (VIFC).
However, the MOU signing ceremony took place at the Autumn Economic Forum 2025, attended by Vietnam’s Prime Minister Pham Minh Chinh, HCMC municipal leaders, representatives from various ministries, and international investment funds.
This partnership follows HCMC’s earlier MoU with Nasdaq in October 2025, another major step in linking Vietnam to international financial markets.
Key Goals of the Partnership
Under this agreement, Binance will help attract international investors, financial companies, and investment funds to the new financial centre. This could bring more capital and business opportunities to Vietnam.
Binance will also share its experience in,
- Introduce foreign investors and financial institutions to Vietnam.
- Build new rules for digital assets and blockchain use.
- Develop payment systems using cryptocurrencies.
- Support digital finance projects with strong compliance and safety.
This cooperation will help Vietnam establish clear and secure regulations for the fast-growing crypto and blockchain market.
Joint Working Group for Blockchain Innovation
A joint working group will be created to plan and monitor progress. They will meet twice a year to keep the project on track.
Both sides also agreed to develop a “sandbox,” a safe testing environment for blockchain and crypto projects. This will allow innovation while protecting users and ensuring legal oversight.
Support for Startups and Local Businesses
The initiative will also support Vietnamese startups and small businesses working in:
- Blockchain
- Artificial intelligence
- Fintech solutions
Training programs, workshops, and expert guidance will help local regulators and companies strengthen their knowledge and skills.
Overall, the cooperation with Binance highlights HCM City’s strong ambition to become a major financial center in Asia by 2030.
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