AIFC → VIFC
Tokenisation regulatory launchpad
Disclaimer: Independent legal research and planning aid. Not a representation of AIFC, AFSA, or VIFC, and not a legal opinion. Always check current versions, effective dates and Vietnamese counsel advice. AIFC permissions do not passport into Viet Nam.
Token Pilots

Product legal workstreams

All products are proposed, not approved. Classification is not pre-judged.

Meat Token

Proposed, not approved
Kazakhstan → Viet Nam
A06V03V08A22
Candidate rights
  • Right to delivery of a defined lot of chilled/frozen beef or lamb
  • Right to cash redemption if delivery fails
  • Information rights on certificates and cold-chain data
Key legal questions
  • Is it a commodity spot/forward contract under Decree 330/2025, or a crypto-asset under Resolution 05/2025 (issuer must be Vietnamese)?
  • Which law governs title while goods are in Kazakhstan, in transit and in Viet Nam?
  • Are SPS/veterinary import approvals in place for the exporting plant?
Title / documentation

Warehouse receipt + sale contract; air waybill is evidence of carriage, not title

Possible AIFC route (MOTF / AMI / DAA)

Possibly MOTF (if a Qualified Investment Token spot/forward contract) — fact-dependent; DAA only if a Digital Asset; AMI unlikely.

Viet Nam permissions requiring analysis
  • Commodity exchange membership/trading under Decree 330/2025
  • Import licence and SPS clearance
  • Settlement currency per Decree 329/2025
One pilot proof

One certified lot delivered to a Da Nang cold store and redeemed by the holder.

Hard stop conditions
  • No classification opinion
  • Cold-chain breach without insurance cover
  • Regulator indicates Resolution 05/2025 applies and issuer is not Vietnamese
Sample end-to-end flow (proposed)
  1. 1Exporter plant in Kazakhstan — veterinary certificate issued
  2. 2Independent quality oracle inspects lot; hash of report recorded
  3. 3Warehouse receipt issued; token minted 1:1 to lot
  4. 4Carrier documentation (air waybill) issued to shipper — not transferred by token
  5. 5Customs export (KZ) and import (VN) clearance
  6. 6Custody of token by licensed custodian; buyer purchases on venue with DvP
  7. 7Delivery to Da Nang cold store; redemption burns token
  8. 8Disputes: agreed arbitration under Decree 328/2025

The air carrier is an intended partner only. No carrier has authorised token-backed carriage, and air waybill rights do not follow the token unless separately agreed in writing.