Hyperbeat partners with a regulated local provider in Vietnam to offer VND deposits. This article explains how the service works, how it complies with Vietnamese regulations, and what you can expect as the regulatory landscape evolves.
Short answer: Yes. Your VND deposits are processed entirely through a regulated Vietnamese payment gateway that meets all current regulatory requirements, including KYC verification, e-invoicing, and tax compliance.
How the VND Deposit Service Works
You initiate a VND deposit in the Hyperbeat Pay app
A QR code is generated via NAPAS 247 / VietQR - Vietnam's national interbank transfer network
You scan the QR code with your Vietnamese banking app and send VND
Your VND is converted to USDC by our regulated local partner
USDC is deposited into your Hyperbeat account
The entire VND payment leg - from your bank transfer to the currency conversion is handled by our regulated partner in Vietnam. Hyperbeat never directly processes VND.
Our Partner's Compliance Setup
Our local partner maintains the following compliance measures:
Regulated Payment Gateway
All VND transactions are routed through a regulated Vietnamese payment gateway. The VND book is balanced through this regulated channel, separate from the crypto settlement.
Backed by a Major Financial Institution
Our partner operates under one of Vietnam's largest and most established securities brokers - a publicly listed company on the Ho Chi Minh Stock Exchange - and is located within their technology innovation zone. This provides institutional-grade oversight and infrastructure.
KYC & KYB Verification
All users undergo Know Your Customer (KYC) verification, and all business partners complete Know Your Business (KYB) checks. This ensures full transparency and compliance with anti-money laundering (AML) requirements.
What About Offshore Services Like Hyperbeat?
This is the most common question from Vietnamese users, so let's address it directly.
Hyperbeat is an offshore service provider - it is not a Vietnamese-regulated CEX. However, your VND deposits are not processed by Hyperbeat directly. Here's how it works:
Our regulated local partner handles the entire VND payment and conversion process within Vietnam's regulated framework
The partner presents Hyperbeat's users through their regulated infrastructure
As long as KYC and KYB compliance is maintained and the beneficiary is known, offshore partnerships are permitted under the current framework
You are not trading on an unregulated platform - the VND leg is fully handled by the regulated local partner
In short: you send VND through a regulated Vietnamese payment gateway. The fact that the USDC ends up in a Hyperbeat account does not change the legality of the VND transaction itself
Frequently Asked Questions
Is it legal to buy crypto in Vietnam? Yes. Since the Digital Technology Law took effect on 1 January 2026, digital assets are officially recognized as property. Holding and trading crypto is legal. However, using cryptocurrency as a means of payment (e.g., paying for goods or services with crypto) is still not permitted.
Will I get in trouble for using Hyperbeat's VND deposit? No. Your VND deposit is processed through a regulated local partner with full KYC compliance, a regulated payment gateway, and proper e-invoicing. The transaction is conducted within Vietnam's legal framework.
What happens when local CEXs launch? There will be a transition period of approximately 6 months. During this time, existing services will continue to operate. If any changes are required to our service, we will notify all users well in advance.
Do I need to pay tax on my deposits? The 0.1% transfer tax is collected by the service provider on your behalf - you don't need to do anything extra. If you are a corporate entity, consult your tax advisor regarding the 20% corporate income tax on crypto profits.
Can I still use international crypto services? Yes. The current regulatory framework focuses on licensing domestic CEXs. Offshore services that partner with regulated local providers and maintain KYC/KYB compliance can continue to serve Vietnamese users.