LPS Securities Backs Sacom Crypto Exchange (SCEX) Capital Raise to VND 5,000B

Overview

Chứng khoán LPS (HOSE: LPS) has approved the purchase of newly issued shares in Công ty Cổ phần Sàn giao dịch tài sản mã hóa Sacom (SCEX), a Vietnamese crypto asset exchange. The move follows SCEX’s charter capital increase from VND 360 billion to VND 5,000 billion on 13 August 2026, and comes as the company builds resources for Vietnam’s pilot crypto asset market.

Key Facts

• LPS’s board approved and delegated to the CEO the execution of the additional share purchase in SCEX; the resolution does not disclose the transaction value or stake size.
• SCEX’s charter capital rose from VND 360 billion to VND 5,000 billion on 13 August 2026, a nearly 14-fold increase.
• SCEX was incorporated on 30 September 2025 in Hà Nội as Công ty Cổ phần Sàn Giao dịch Tài sản Mã hóa Lộc Phát Việt Nam (LPEX), and renamed SCEX in May 2026.
• Nguyễn Xuân Thái, son of Sacombank standing vice-chairman Nguyễn Đức Thụy (bầu Thụy), was introduced as SCEX vice-chairman in June 2026; Nguyễn Duy Khoa chairs the board.
• The minimum charter capital for a crypto exchange operator is VND 10,000 billion under Decision 96/QĐ-BTC, double SCEX’s post-raise capital.
• Founding shareholders before the raise were Dương Văn Quyết (40%), Nguyễn Thị Bích Ngọc (30%) and Vũ Phát Đạt (30%).
• LPS and Sacombank signed a comprehensive cooperation agreement in June 2026 covering banking, securities and asset management.

What Happened

According to the LPS board resolution, the company will subscribe to additional shares issued by SCEX to raise its charter capital. The board assigned the general director to direct relevant units and individuals to carry out the necessary steps once the transaction is approved. The filing does not disclose the subscription amount, the price per share, or the resulting ownership percentage.

The capital raise at SCEX follows a leadership reshuffle. At the June 2026 launch of SCEX’s board, Nguyễn Xuân Thái, son of Sacombank standing vice-chairman Nguyễn Đức Thụy, was presented as vice-chairman, alongside chairman Nguyễn Duy Khoa and members Doãn Trung Kiên, Nguyễn Minh Hương, Nguyễn Bá Phước and Huỳnh Thi Hải. Nguyễn Xuân Thái had already joined the board of Chứng khoán LPBank (LPBS) in early February 2026; LPBS was renamed Chứng khoán LPS in August 2026 and listed its shares on HOSE. Nguyễn Đức Thụy is a former chairman of LPBank, the parent bank of LPS.

Market Context

LPS closed at VND 18,000 on 5 October 2026 on HOSE. The stock sits in the securities sector, which has been sensitive to domestic liquidity conditions and to the emergence of new asset classes under the government’s crypto pilot. The capital commitment places LPS among the first listed securities firms to fund a licensed crypto exchange platform, a segment still defined by thin disclosure and pre-revenue operations.

Strategic Significance

Vietnam’s crypto asset market pilot under Resolution 05/2025/NQ-CP creates a licensing regime in which capital scale is a gating factor: the VND 10,000 billion minimum means SCEX must roughly double its charter capital again to qualify. LPS’s participation gives it an early position in exchange infrastructure and aligns with its June 2026 cooperation agreement with Sacombank, potentially bundling brokerage, banking and digital asset custody. The key risk is execution and disclosure: LPS has not stated the size of its investment, and the relationship between LPS’s board and SCEX’s leadership raises related-party governance questions that investors will need to monitor.

What to Watch

• Any LPS disclosure of the subscription value, share price and resulting stake in SCEX.
• SCEX’s next charter capital increase toward the VND 10,000 billion licensing threshold.
• Licensing decisions and guidance from the Ministry of Finance and the State Securities Commission on the crypto asset pilot.
• LPS’s Q3 2026 earnings release and any related-party transaction disclosures.
• Further capital moves by Sacombank or LPBank entities into SCEX.