VNX and SGX signed a memorandum on developing depositary receipt products on September 30, following talks between Vietnam's securities regulator chair Vu Thi Chan Phuong and a Monetary Authority of Singapore representative. It establishes a framework for research and closer capital-market connections.

Discussions covered legal requirements, custody, clearing and transparent investor information. Vietnam also sought exchanges on cryptoasset regulation and market supervision. Signing the memorandum does not mean depositary receipts or linked trading arrangements are already operational.