Deputy Prime Minister meets with Binance CEO. Photo: VGP/Nguyễn Hoàng
During his working visit to the United Arab Emirates (UAE), Deputy Prime Minister Nguyễn Hòa Bình held meetings with leading digital asset and real estate corporations, including Bybit, Binance, and Emaar.
In his meeting with Richard Teng, CEO of Binance—the world’s leading digital asset trading platform—the Deputy Prime Minister expressed his desire for Binance to establish a headquarters in Da Nang and collaborate closely with Vietnam’s International Financial Center to develop a cryptocurrency exchange.
The Deputy Prime Minister also invited Mr. Richard Teng, who previously served as CEO of Abu Dhabi Global Market, to act as a senior advisor for the development of Vietnam’s International Financial Center.
Mr. Richard Teng agreed to share expertise and collaborate closely to develop the cryptocurrency market in Vietnam. He also pledged to share insights from Abu Dhabi’s experience in building an international financial center.
During the meeting, Binance and the Da Nang People’s Committee signed an MOU to cooperate in blockchain technology and digital asset development.
Binance is the world’s largest cryptocurrency exchange by trading volume, processing over $16 billion daily and surpassing $100 trillion in total trading volume by 2024. According to CoinMarketCap, Binance serves more than 280 million global users and lists over 400 digital currencies.
The Deputy Prime Minister also met with Bybit, a company with over 2.5 million users in Vietnam (approximately 15% of the market) and the largest cryptocurrency exchange in the UAE. Bybit’s CEO affirmed readiness to support Vietnam in developing a legal framework, sharing international expertise, and training human resources.
The Deputy Prime Minister urged Bybit to continue partnering with Vietnam in establishing a pilot legal framework for digital assets.
Additionally, the Deputy Prime Minister met with Emaar Properties, a leading real estate conglomerate present in 15 countries, known for iconic projects such as the Burj Khalifa and the Dubai Mall.
During the meeting, Emaar’s CEO expressed interest in exploring investment opportunities in Vietnam and announced plans to send a delegation to study potential collaborations and investments.
Vietnam’s government leaders encouraged Emaar to invest directly or indirectly through the International Financial Center.
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On this occasion, the Deputy Prime Minister extended an invitation to Mr. Richard Teng, CEO of Binance and former CEO of Abu Dhabi Global Market, to serve as a senior advisor in the development and establishment of Vietnam’s International Financial Center.
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