HÀ NỘI — Sacom Crypto Asset Exchange JSC (SCEX) has doubled its charter capital to meet the capital requirement for companies seeking to operate crypto asset exchanges under Việt Nam's pilot framework for the crypto asset market.

The company announced the increase on October 14, raising its charter capital from VNĐ5 trillion to VNĐ10 trillion (US$192 million to $386 million), according to its latest business registration update. The entire capital comes from private sources.

SCEX, formerly known as Loc Phat Vietnam Crypto Asset Exchange JSC (LPEX), was established on September 30, 2025, with an initial charter capital of VNĐ6.8 billion. 

The company was founded by three individual shareholders: Dương Văn Quyết, who held a 40 per cent stake, Nguyễn Thị Bích Ngọc with 30 per cent and Vũ Phát Đạt with the remaining 30 per cent. Nguyễn Duy Phong served as general director and legal representative at the time of establishment.

On February 11, LPEX increased its charter capital to VNĐ360 billion, approximately 53 times its initial level, just over four months after its establishment.

The company changed its name to SCEX in April. On August 13, it raised its charter capital from VNĐ360 billion to VNĐ5 trillion before doubling it again to VNĐ10 trillion in October.

Under Government Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Việt Nam, companies providing services to organise crypto asset trading markets must meet several stringent requirements, including a minimum paid-up charter capital of VNĐ10 trillion.

SCEX is among five entities whose applications for licences to operate crypto asset exchanges have been deemed valid. It has also completed the first round of the crypto asset assessment process, according to the information provided.

In June, SCEX introduced its new board of directors, chaired by Nguyễn Duy Khoa, who also serves as the company's legal representative. Nguyễn Xuân Thái was appointed vice chairman, while the other board members are Đoàn Trung Kiên, Nguyễn Minh Hương, Nguyễn Bá Phước and Huỳnh Thi Hải.

Beyond its preparations for the exchange, SCEX has developed SCEX Simulator, a trial crypto asset trading platform used in the 'Crypto Asset Trading Arena' competition. The initiative, organised by the Vietnam International Financial Centre in HCM City (VIFC-HCM) and VBI Academy, aims to promote public understanding of digital assets, with SCEX serving as its strategic technology partner. — BIZHUB/VNS