Sun Group takes controlling stake in Vietnam Digital Asset JSC

Sun Group takes controlling stake in Vietnam Digital Asset JSC

Sun Group has become the controlling shareholder in newly established Vietnam Digital Asset JSC, committing 64 per cent of its initial $40 million charter capital.

Photo: tinnhanhchungkhoan.vn

The Hanoi Stock Exchange announced on March 16 that Petrovietnam Securities JSC (PSI) had disclosed its contribution to the establishment of Vietnam Digital Asset JSC. Sun Group holds the majority stake in the venture.

The company is capitalised at $40 million and headquartered at the Sun Ancora Building in Hanoi. Sun Group is the largest shareholder with a contribution of VND640 billion (approximately $25.6 million), representing a 64 per cent stake. Information Technology Services Innovation Co., Ltd. holds 35 per cent, while PSI owns the remaining 1 per cent.

According to its enterprise registration certificate, Vietnam Digital Asset JSC was established in late January with a broad range of registered business lines, including trading, brokerage, and the provision of services for organising and operating crypto-asset trading platforms.

Sun Group’s move comes as the government accelerates efforts to finalise the legal framework for cryptoassets and the digital economy. The group is joining the race alongside major financial institutions, including ecosystems linked to Techcombank and VPBank, aiming to capitalise on the pilot rollout of digital asset exchanges in Vietnam.

Under last September's Resolution No.05/2025//NQ-CP on piloting the crypto-asset market, one of the key requirements for establishing a digital asset exchange is a minimum charter capital of $40 million.

However, most firms currently interested in entering the market fall short of this threshold. The $40 million requirement is roughly three times the minimum charter capital of a commercial bank and around 33 times that of an aviation transport company.

The State Securities Commission (SSC) has previously explained that the minimum capital requirement is intended to ensure operators can manage multiple functions, including trading, settlement, and asset custody. Given the high-risk nature of cryptoassets, companies must also have sufficient financial capacity to cover potential losses and compensate investors when necessary.

According to the SSC, upwards of 10 securities firms and banks are preparing to submit applications to establish digital asset companies as Vietnam moves forward with its pilot scheme for cryptoasset exchanges.

VIR