In the founding shareholder structure of HDEX (HD Crypto Asset Exchange JSC), alongside 15% capital from HD Securities JSC (HDBS) and 10% from Galaxy Pay, the largest share of 75% belongs to Galaxy Technology Services JSC.
A deeper analysis of this controlling capital reveals a direct connection to the next generation of the Sovico Group, specifically Mr. Nguyễn Phước Hùng Anh Victor, the son of billionaire Nguyễn Thị Phương Thảo. Born in 2002, this young entrepreneur graduated from the University of Oxford (UK).
The capital flow within Galaxy Holdings, the parent company of Galaxy Technology Services, is directly linked to Mr. Hùng Anh through a series of holding companies. The fact that the largest capital share in a significant fintech project is controlled by entities directly related to the “second generation” is noteworthy, reflecting their involvement in the group’s new business ventures.
This is not the first time Mr. Nguyễn Phước Hùng Anh Victor has made his mark in the technology sector. Previously, he co-founded Swift247, a tech-driven logistics startup. Swift247’s business model leverages a technology platform to capitalize on the existing ecosystem, specifically Vietjet Air’s flight network.
Similar to Swift247, HDEX is a fintech project expected to grow within the Sovico Group’s diverse ecosystem. The involvement of a financial institution like HD Securities JSC (HDBS) is a necessary step to meet legal requirements for the pilot cryptocurrency market under Resolution 05/2025/NQ-CP.
The resolution mandates that exchanges must have a minimum capital of 10 trillion VND, with 35% held by at least two financial institutions. This explains HDEX’s large-scale capital increase plan and HDBS’s presence in its shareholder structure.
In a previous statement, billionaire Nguyễn Thị Phương Thảo expressed her desire for her son to succeed her. Mr. Nguyễn Phước Hùng Anh Victor’s significant role in HDEX’s ownership structure—one of Sovico’s major digital economy projects—highlights the increasing involvement of the next generation.
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