Vietnam Strengthens IFC Ambitions as HCM City and Binance Collaborate on Blockchain and Payment Infrastructure

• Binance and HCM City’s financial authorities have signed an MoU to advance Vietnam’s International Financial Centre. 
• The municipal People’s Committee has assigned the Department of Finance to execute policies for the centre.

Vietnam is establishing a world-class international financial centre (IFC), after a recent agreement between HCM City and Binance. During the Autumn Economic Forum 2025, the Ho Chi Minh City Department of Finance and Binance signed a memorandum of understanding (MOU) in the presence of Prime Minister Phạm Minh Chính and international investment funds.

As part of their agreement, they will support the development of the Vietnam International Financial Centre in HCM City (VIFC–HCMC).

In early November, HCM City also signed a separate cooperation agreement with Nasdaq, focusing on market governance, cross-listing opportunities, fintech technology transfer, and training programs to develop local financial talent.

Key Areas of Cooperation for the Alliance

Under the MoU, HCM City and Binance will work together across four key areas to strengthen the foundation of the International Financial Centre. Their cooperation includes attracting and connecting investors, financial institutions, and investment funds to operate within VIFC–HCMC. They will also share expertise to help shape legal frameworks for digital assets, blockchain applications, and digital-asset payment infrastructure.

Once the regulations are in place, both parties plan to create a “sandbox” where digital-asset projects can be safely tested and refined. Beyond that, the collaboration will help build a lively innovation ecosystem, supporting SMEs and start-ups that are developing or using digital technologies, blockchain tools, and fintech solutions.

The collaboration will additionally include capacity enhancement for bodies, via training sessions, workshops and expert swaps. The plan to build an international financial centre in HCM City, and also in another city, Da Nang, has been unfolding since early 2025. The IFC will cover several hundred hectares across major districts of HCM City, including central wards and the new urban area of Thu Thiem.

The government intends to establish a financial system incorporating commodity and carbon markets, fintech, digital banking and legal, audit and IT services, adhering to international criteria. Soft infrastructure will also be developed: 5G rollout, smart-city infrastructure, high-speed telecoms and logistics, and digital infrastructure.

This move is part of Vietnam’s plan to position HCM City as a leading regional centre for finance and digital assets by 2030. Adding to its engagement in the country, Binance Charity contributed $200,000 in cryptocurrency to support flood relief and reconstruction efforts in central Vietnam.