Prominent Vietnamese Business Leader Explores AI and Blockchain Ventures

Pham Thanh Hung, popularly known as “Shark Hung,” has made a significant move in Vietnam’s tech landscape by joining the board of Hyra Holdings as an independent member. This distinguished event took place during the annual general meeting (AGM) held in May 2025 in Hanoi, which marked a pivotal moment for both Hung and the company.

Hyra Holdings, a game-changer in AI infrastructure, blockchain, and innovative investment technologies in Vietnam, is expected to leverage Hung’s extensive experience in the startup ecosystem to drive their strategic growth. As a well-known figure in the country’s entrepreneurial space, his expertise is anticipated to accelerate Hyra’s ambitions in the rapidly evolving AI and blockchain sectors.

Currently, Hung serves as vice chairman of the prominent real estate developer Cen Group, in addition to his roles as CEO across several companies like CenInvest, CenHomes, Cenland, CenValue, and Ngoi Sao Moi (New Star). His multifaceted background positions him uniquely to facilitate Hyra’s expansion and foster relationships with global investment funds. This is essential in instilling modern governance standards throughout Hyra’s technological ecosystem.

During the same AGM, Hyra Holdings unveiled a bold initiative to establish a venture capital fund named Hyra Combinator, with an impressive valuation target of $500 million by 2030. This fund aims to explore investment opportunities in cutting-edge sectors including AI, Fintech, Blockchain, and Quantum Tech, employing a blended capital model that underscores Hyra’s commitment to innovation.

Founded in 2021, Hyra Holdings has quickly emerged on the global stage, operating not only in Vietnam but also across Southeast Asia, the Middle East, and the United States. The company recently announced that by the close of 2024, its ecosystem had successfully reached 1 million global users. One of the highlights of Hyra’s achievements includes Hyra AI, which has connected over 2 million devices in 205 countries, boasting a total compute power of 360,000 TFLOPS.

Adding further to its ambitious agenda, Hyra also recently broke ground on Hyra Zone, a $30 million AI data center, while expanding its physical presence with new offices in key international markets such as Singapore, Dubai, and the U.S. These strategic moves highlight the company’s relentless pursuit of growth and global outreach.

Notably, Hyra Holdings was previously known as CMC Holdings JSC, with Tran Nam Chung serving as its CEO. The rebranding and transition signify a broader vision and ambition aimed at positioning the firm at the forefront of technological innovation.

In 2022, the firm gained significant attention after successfully raising $1.5 million during a Co-Founder funding round aimed at developing a digital ecosystem that targets billions of users worldwide. This influx of capital was earmarked for a series of innovative projects including a real estate exchange, a reverse auction system, and a comprehensive banking system slated for launch in 2022 and 2023.

CMC Holdings had also set its sights on a bold goal: an IPO on the Nasdaq stock exchange by 2027. This ambitious roadmap entails navigating through various funding rounds, including Co-Founder, Angel, and Series A through C, to ensure a solid financial foundation for future endeavors.

Hyra’s digital ecosystem promises to be revolutionary, incorporating platforms like Hyperas for tokenizing and digitizing assets, Pindias for managing digital asset transactions, and Divega, an e-commerce marketplace utilizing a unique reverse auction model. Additionally, Rapital Bank is envisioned as a digital bank tailored to facilitate high-volume global transactions.

In the present context, Hyra Holdings continues to make strides with its digital ecosystem. According to Hyra Tek’s website, Hyra AI stands as the world’s first decentralized AI infrastructure, functioning on a Layer-3 blockchain. This innovative solution not only combines verifiable compute networks but also incorporates a fully on-chain decentralized governance mechanism (DAO). By facilitating transparent and secure access to AI, this initiative positions Hyra as a leader in the global tech landscape.

Hyra Tek reported that these advancements have enabled significant international expansion, reaching 200 countries and connecting over 2 million devices while generating a stable monthly revenue of $100,000. This trajectory highlights the growing relevance and demand for Hyra’s innovative solutions in today’s interconnected world.