Ho Chi Minh City, Vietnam, and Binance deepen cooperation to jointly build a digital asset and blockchain financial center.

According to Foresight News , citing the Vietnam News Agency, the Ministry of Finance of Ho Chi Minh City and Binance have signed a Memorandum of Understanding (MOU) to accelerate the development of the Ho Chi Minh City International Financial Centre (VIFC-HCMC). The MOU stipulates cooperation in four core areas: promoting and attracting investors, financial institutions, and investment funds to operate within the VIFC; sharing practical experience in developing a legal framework for digital assets, blockchain technology, and payment infrastructure using digital assets; and supporting the development of controlled testing environments (sandboxes) for digital asset projects once an appropriate legal framework is established and authorized by the relevant authorities.

Both parties will also support the innovation ecosystem, including SMEs and startups that apply digital technologies, blockchain, and fintech. The collaboration covers regulatory compliance, international standards and best practices, as well as consulting services on digital asset infrastructure and the application of artificial intelligence and blockchain technologies.