Ho chi minh city: Xsolla, a global video game commerce company, announced the acquisition of Ho Chi Minh City-based publisher Wetaps Corporation and the simultaneous launch of its Merchant of Record (MoR) services in Vietnam. This strategic initiative establishes Xsolla as the country's first licensed MoR for games, providing global developers a seamless and compliant single solution for market entry, payments, and publishing approvals.
According to BERNAMA News Agency, Vietnam has rapidly emerged as a global gaming powerhouse, surpassing established leaders in mobile game exports with over 6.7 billion downloads. The domestic market is projected to exceed US$430 million by 2025. Xsolla President, Chris Hewish, stated that becoming the first licensed MoR helps developers and publishers overcome barriers so they can expand their businesses and reach millions of new players with confidence in Vietnam.
Xsolla's launch directly addresses the hurdles international publishers face, including fragmented payments and complex regulatory requirements. The acquisition and the launch are part of Xsolla's Global Strategic Initiatives and Partnerships (GSIP) efforts to expand local publisher assets and build direct-to-consumer infrastructure in high-growth markets. By combining Wetaps' deep regulatory expertise and co-publishing capabilities with Xsolla's global commerce platform, the company is positioned to offer an end-to-end market entry and monetisation solution.
Key advantages of Xsolla Vietnam include accelerated market entry, allowing for quick launches via an established approval framework. The service also ensures regulatory compliance, offering simplified procedures and reduced risk through strong ties with government regulators. Furthermore, it provides access to local payments, including over five major methods such as MoMo, ZaloPay, and Napas, alongside revenue optimisation through a streamlined payout structure and optimised revenue share. Xsolla also offers localised support, featuring a curated partner network and dedicated customer support for the Vietnamese market.