Vietnam traders can now buy BCH with fiat on Bvnex exchange

Written by: Ali Raza
June 3, 2020
  • Vietnam-based crypto exchange, Bvnex, recently announced support for BCH on fiat-to-crypto exchange.
  • With BCH pairs, the exchange now has over 30 pairs against the country's fiat currency, VNDT.
  • Vietnam has seen a lot of growth in the crypto sector, although the country still lacks regulations.

Crypto exchange Bvnex revealed that it is adding support for Bitcoin Cash on its fiat-to-crypto trading platform. As a result, both Vietnamese and other traders in Asia will be able to quickly and easily buy Bitcoin Cash (BCH) directly with Vietnam dong (VNDT).

The move will bring Bitcoin Cash closer to potential buyers, who no longer need to go the long way around in order to obtain it.

Yet another coin paired against the fiat in Vietnam

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The launch of Vietnam dong, as well as plenty of other assets that are currently available, took place in September 2019. Now, BCH, which is currently the fifth-largest crypto, gets to join as well, allowing people to directly buy and sell it. More than that, with BCH paired against fiat, the exchange now has more than 30 trading pairs that include VNDT.

According to recent data, Bvnex sees around $55 million in fiat-to-crypto transactions. However, the exchange also supports stablecoin trading pairs, including Tether (USDT).

The company revealed that it has more than 150,000 Chinese users, as well as over 20,000 Vietnamese users. Given the numbers, the exchange seems to have big plans for BCH. Its announcement says: “With a step by step preamble to introduce BCH to the Vietnamese Crypto Community, Bvnex already had an exclusive interview with ‘Bitcoin Jesus’ Roger Ver about ‘The potential of the Vietnamese market and the way BCH can be adopted as digital cash.

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Vietnam still lacks regulations, despite interest in crypto

The crypto market has been growing for years in Vietnam, but despite this, the same lack of regulations that troubles the rest of the world remains noticeable there, as well. Even so, the government seems to be supportive of tech innovations, especially when it comes to blockchain technology.

Last year, the country’s Ministry of Justice held a conference regarding regulations of cryptocurrencies. At the time, Bvnex CEO, Trang Phung, worked as an adviser for local discussions and seminars. He, as well as many others, asked for a ‘sandbox’ for the new technologies. They also stressed that Vietnam’s traders are among the most dynamic in the crypto world.

So far, Vietnam has announced the creation of a research group for digital currencies.