Fystack is pioneering secure crypto wallet Infrastructure for enterprises in Vietnam
Anh Phan
As of 2025, Vietnam government is actively working on crypto and digital asset regulations. Adoption is already high among users and developers, but infrastructure for secure, compliant custody is missing especially for businesses.
Right now, companies either:
- Rely on foreign custody platforms (which are expensive, non-compliant, and hard to control), or
- Build fragile, in-house wallets without MPC or security audits.
There’s no established local provider of self-hosted MPC wallet infrastructure. Fystack is one of the first in Vietnam.
Opportunities
Regulatory Readiness
- The Vietnamese government is working on formal crypto regulations in 2025. Once enacted, regulated entities (banks, brokerages, payment firms) will need secure, auditable crypto wallet infrastructure.
- Fystack is building ahead of this curve, focusing on:
- On-prem / local cloud deployment
- Compliance with ISO 27001 / SOC 2 standards
- Full control over keys, logs, and user data
No Serious Domestic Competitor
Big Web3 players (Coin98, Sky Mavis, Kyber) are still relying on foreign custody providers or in-house infrastructure. No domestic solution offers a secure MPC-based custody that is production-ready, developer-friendly, and deployable for enterprise in regulated environments.
- Web2 to Web3 Migration
- Fintechs and payment firms are exploring digital asset products (e.g. stablecoin wallets, tokenized loyalty).
- These companies need secure wallet SDKs, not full cryptography teams. Fystack offers a white-label MPC wallet backend they can run internally.
- Compliance-First for Institutions
- Fystack supports deployment on Vietnam-based cloud providers (e.g. VNG Cloud, CMC Cloud), meeting data residency needs.
- On-premise support makes us a fit for national or government-backed projects.
- Regional Expansion (APAC): After proving product-market fit in Vietnam, we can expand to nearby countries (Indonesia, Philippines, Thailand), all of which share similar regulatory timelines and lack local infra providers.
Challenges
- Trust Building
- Large clients expect SOC 2, ISO 27001, and external audits. We're investing in certifications and audit partners in 2025.
- Sales Cycle in Regulated Sectors
- Government agencies and regulated companies move slowly. It takes time to get through legal, compliance, and procurement reviews.
- Competing with Global Providers
- Fireblocks, BitGo, and others dominate internationally—but they are costly, closed-source, and not tailored for Vietnam’s compliance or hosting needs.
- Fystack’s edge is control, cost, and localization.
Why Fystack is Pioneering in Vietnam
- Built for B2B: We serve fintechs, exchanges, Web3 teams, and financial institutions.
- Self-hosted & Compliant: Clients own their infrastructure and data. No vendor lock-in.
- Security-First: MPC signing, internal access control, and audit hooks are built-in. Designed to pass certification.
- Developer-Ready: Well-documented SDKs (Go, TypeScript), easy to integrate. No crypto expertise required.
Fystack is not just catching up - we’re building ahead of the regulation curve. While others wait for policy clarity, we’re working with early adopters, running POCs, and preparing for a compliant, secure future of digital asset custody in Vietnam and beyond.
Sign up at fystack.io and get access to self-hosted MPC wallet infrastructure purpose-built for regulated enterprises, fintechs, and Web3 builders in Vietnam and around the world.
Secure. Compliant. Yours to control.
VnExpress
Thùy Liên
Hoàng An -
