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Vietnam partners with Binance as HCM City pushes global finance hub plan

  • Binance will introduce foreign investors and financial institutions to Vietnam.
  • The agreement includes support for digital asset rules and blockchain payment systems.
  • A joint working group will monitor progress twice a year.

Vietnam has taken a significant step in its long-term plan to build an international financial hub, with HCM City now partnering with Binance following an MoU signed on 26 November 2025.

The agreement was finalised during the Autumn Economic Forum 2025, attended by Prime Minister Pham Minh Chinh, municipal leaders, ministry representatives, and international investment funds.

The collaboration brings Vietnam closer to its goal of creating a modern financial ecosystem that can attract global investors and digital finance companies.

It also builds on Vietnam’s strategy to become more competitive across Asia as technology and digital assets reshape global capital flows.

Partnership expands Vietnam’s global financial links

HCM City is one of two key locations selected for the Vietnam International Financial Centre initiative.

The new agreement with Binance adds momentum to this plan by bringing one of the world’s largest crypto exchanges into Vietnam’s financial development efforts.

The partnership follows the city’s MoU with Nasdaq in October 2025, showing Vietnam’s intention to work closely with major global platforms.

Binance will introduce foreign investors, financial companies, and investment funds to Vietnam to help attract new capital to the financial centre.

This approach aims to increase international participation and strengthen Vietnam’s ability to connect with global markets.

Support for digital asset rules and blockchain activity

A major part of the cooperation involves shaping Vietnam’s regulatory environment for digital assets and blockchain applications.

Binance will share experience from its global operations to help Vietnam design rules for digital asset use, crypto trading, and blockchain activity.

The agreement covers the development of payment systems using cryptocurrencies and support for digital finance projects that follow strong compliance and safety standards.

Vietnam aims to build a clear regulatory structure that can protect users while supporting innovation, especially as demand for transparent rules in digital finance continues to grow across the region.

Joint working group and blockchain sandbox

To guide the partnership, Vietnam and Binance will set up a joint working group that meets twice a year to track progress.

The agreement also includes the creation of a sandbox for blockchain and crypto projects.

This controlled environment will allow companies to test products under regulatory supervision.

The sandbox will encourage innovation while reducing risks, giving local and international businesses a structured pathway to explore new technologies.

The mechanism is expected to support responsible growth and help regulators understand emerging digital finance models.

Training and support for startups in new technologies

The partnership extends beyond regulation and investment.

Vietnam aims to support startups and small businesses working in blockchain, artificial intelligence, and fintech.

The cooperation includes training sessions, workshops, and expert guidance for regulators and companies.

These programmes will help improve technical capacity and expand knowledge among teams that are crucial to the development of a modern financial centre.

Vietnam sees this as an opportunity to prepare its workforce for a more digital future and compete with regional hubs that are also investing in advanced technologies.

Long term vision to become an Asian finance hub

The collaboration with Binance reinforces Vietnam’s ambition to position HCM City as a major Asian financial hub by 2030.

With new international partnerships, growing regulatory planning, and a focus on digital finance, Vietnam is building the foundations of a financial centre designed for global integration.

The MoU marks another step in linking Vietnam with leading institutions and strengthening its role in regional economic development.

The post Vietnam partners with Binance as HCM City pushes global finance hub plan appeared first on CoinJournal.

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Bitcoin stalls around $86k, could dip lower; Check forecast

Key takeaways

  • BTC is down by less than 1% in the last 24 hours and is currently trading below $87k.
  • It could dip lower if the bullish trend fails to prevail.

Bitcoin stalls around $86k

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices hover around key levels following a positive start to the week. The price action of the leading cryptocurrencies suggests fading bearish momentum. 

However, the bulls have failed to push prices higher, and Bitcoin could revisit lower support levels in the near term. However, if the support levels hold, Bitcoin could rally higher over the next few days.

Analysts are optimistic that Bitcoin’s price could appreciate in the medium to long term. While commenting on the current market conditions, Coinbase UK CEO Keith Grose said,

“Market conditions are shifting as institutions across Europe take a more structured and regulated approach to digital assets. We’re seeing clearer frameworks emerge, stronger infrastructure being developed, and early examples of central banks and financial institutions running controlled pilots to build practical understanding – including the Czech National Bank’s recent decision to test a small, ring-fenced portfolio of digital assets.”

Bitcoin’s price could face further pressure

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed in the last 24 hours. The leading cryptocurrency found support around the $80k psychological level on Friday and has slightly bounced back since then. 

At press time, Bitcoin is trading around $86,800 per coin after failing to overcome the $90k resistance level. If the recovery continues, BTC could rally toward the next key resistance at $90,000.  The ILQ and TLQ levels above $92k could also serve as short-term targets for Bitcoin. 

BTC/USD 4H Chart

The Relative Strength Index (RSI) on the 4-hour chart reads 47, after slipping below the oversold threshold last week, suggesting that downside pressure is declining. The MACD lines are also close to the bullish zone as buyers remain in control.

However, if BTC fails to overcome the $90k resistance, it could extend the decline toward the key psychological level at $80,000.

The post Bitcoin stalls around $86k, could dip lower; Check forecast appeared first on CoinJournal.

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Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

  • The state legislation sets aside $10 million for Bitcoin accumulation.
  • Texas is preparing a formal tender to choose a custodian for the reserve.
  • New Hampshire authorised a Bitcoin reserve and approved a $100 million Bitcoin bond.

Texas is moving ahead with one of the most ambitious state-level crypto strategies in the country as it begins shaping the framework for a government Bitcoin reserve.

The state has now taken its first formal step by acquiring $5 million in shares of BlackRock’s iShares Bitcoin Trust.

The purchase is part of a wider plan triggered by legislation passed earlier this year, which allocated $10 million for future Bitcoin accumulation.

The early activity positions Texas to become the first US state to hold a dedicated cryptocurrency reserve, giving it a lead in a growing competition among states exploring digital asset policies.

Texas builds foundation for Bitcoin reserve

The state has been gathering information from the cryptocurrency industry to help design how its reserve will operate.

The review began after Texas issued a request for information in September seeking guidance on best practices for storage, security, and management.

Industry groups sent detailed submissions covering custody models, investment structures, governance frameworks, and security systems.

The process is part of a wider effort to ensure the reserve can be managed with clear procedures once it transitions from planning to execution.

Texas officials are expected to follow this phase with a formal request for proposal.

The tender will be used to select a custodian and determine the final operational rules for the programme.

The recent $5 million allocation acts as a temporary measure rather than direct Bitcoin ownership while the state completes its selection process, according to a CoinDesk report.

States explore government crypto strategies

Other states have also gained exposure to Bitcoin, though through different channels.

Michigan and Wisconsin accessed cryptocurrency markets through public-employee retirement funds.

Wisconsin sold a $350 million allocation in May, according to public records.

These moves reflect growing institutional interest at the state level, even in cases where governments have not yet adopted dedicated reserves.

Several states are actively studying the idea of holding Bitcoin for strategic purposes.

New Hampshire has authorised the creation of a government Bitcoin reserve, although it has not yet made any purchases.

Last week, the New Hampshire Business Finance Authority approved a $100 million Bitcoin bond designed to support an economic development fund backed by cryptocurrency.

The structure relies on private sector activity rather than direct state accumulation.

Early development continues nationwide

Arizona is also taking steps toward a government-level reserve.

Its legislation directs unclaimed cryptocurrency assets held by the state into a dedicated reserve.

The plan creates an initial legal foundation that could support future accumulation, although the full reserve framework is still in development.

These early efforts reflect a rising interest among states in integrating digital assets into long-term financial planning.

The state-level activity is unfolding alongside federal discussions.

President Donald Trump has publicly supported the idea of a national Bitcoin investment strategy.

The administration has issued an executive order directing officials to begin planning for a federal reserve structure.

Government teams working on the project are now waiting for congressional approval before advancing to the next stage.

Texas sets the pace in state crypto adoption

Texas remains the most advanced of the state-level initiatives due to its legislative backing and its first confirmed investment.

The move signals a shift from exploratory interest to practical implementation, with a structured plan for selecting custodians and defining reserve operations.

The next steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are finalised.

The post Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan appeared first on CoinJournal.

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Stablecoin issuer Paxos acquires Fordefi to strengthen institutional DeFi access

  • Paxos purchases an institutional wallet provider in a $100M deal.
  • The move leverages Fordefi’s MPC wallet for a regulated custody framework.
  • DeFi is increasingly becoming part of the mainstream monetary infrastructure.

Paxos, a reputable blockchain infrastructure company behind multiple stablecoins, confirmed the acquisition on Forderfi late on Tuesday.

While the firms didn’t reveal the transaction’s value, sources close to the matter suggest that the deal exceeds $100 million, reflecting one of the most aggressive and strategic expansions in recent years.

The team emphasized:

This strengthens our ability to support institutions with more flexible and sophisticated digital asset infrastructure.

For context, Fordefi is a thriving enterprise wallet and custody provider.

This acquisition comes as institutions are moving to on-chain operations at an unprecedented pace.

Companies exploring blockchain technology like tokenized assets, complex DeFi strategies, and stablecoin settlements are seeking secure, modular custody.

Paxos aims to satisfy this demand by merging its compliant custodial infrastructure with Fordefi’s policy-centered MPC (multi-party computation) wallet tech.

Commenting on the strategic purchase, Paxos co-founder and CEO Charles Cascarilla said:

Together, Paxos and Fordefi provide customers with a world-class custody solution built upon advanced wallet technology and regulated, qualified custody. We’re excited to welcome Fordefi to our team as we enter this new phase of growth.

Paxos enriches its enterprise playbook

Businesses venturing into the blockchain and crypto sectors have leveraged Paxos for compliant infrastructure and custody.

The firm maintains a high-end regulatory model, with supervision from Singapore’s MAS, the NYDFS in the US, Abu Dhabi’s FSRA, and FIN-FSA in Europe.

Moreover, its tokenization and stablecoin systems power fiscal settlements for leading companies, including MasterCard, Nubank, PayPal, and Interactive Brokers.

Now, Paxos is integrating Fordefi to offer its customers a unified platform that supports everything from asset tokenization and issuance to streamlined access to DeFi protocols.

CEO Cascarillar added:

Fordefi has built an impressive stack and customer base founded on easy-to-use APIs and seamless web3 connectivity. Market participants require a regulated platform partner that meets their range of complex custody needs.

The fast-growing Fordefi

Fordefi has grown into a reputable institutional wallet provider in the DeFi industry since its 2021 launch.

The platform boasts two crucial features.

First and foremost, Fordefi’s MPC-based address model reduced single-point failure risks.

On the other hand, the policy engines enable enterprises to handle compliance rules, risk management, and permissions across decentralized and centralized setups.

Fordefi currently secures over $120 billion in monthly transactions, supporting nearly 300 enterprises, including hedge funds, crypto-native companies, and trading desks.

Josh Schwartz, CEO of Fordefi, believes Paxos will heighten its reach while aligning with its primary missions. He said:

Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions. Joining Paxos allows us to bring our technology to an even broader audience while maintaining our focus on security, usability, and innovation. Together, we will offer enterprises the unified custody and stablecoin infrastructure they need to deploy real-world digital asset use cases at scale.

For now, Fordefi will operate independently as Paxos pursues a phased integration.

The post Stablecoin issuer Paxos acquires Fordefi to strengthen institutional DeFi access appeared first on CoinJournal.