More Securities Companies Invest Billions to Establish Digital Asset Companies

Tien Phong Securities Joint Stock Company (TPS, code ORS) recently announced its Q3 2025 financial report, with operating revenue of 356 billion VND, down 34% year-on-year. TPS recorded a pre-tax profit of 134 billion VND, a 19% decrease compared to the previous year; however, this profit helped the company eliminate losses from the beginning of the year, resulting in a cumulative profit of nearly 34 billion VND for the first 9 months. In addition to the recovery in business performance, TPS has revealed its expansion into the digital asset sector by establishing Tien Phong Digital Asset Company, with a charter capital of 120 billion VND, headquartered in Hanoi. Its primary business focus is to commercialize research results and develop technology. TPS holds 10% of the new company, while TPS Chairman, Mr. Nguyen Hong Quan, controls 74.3%. The securities industry is seeing major players entering the digital asset arena following a government resolution on testing a crypto asset market, indicating a new investment trend is emerging.