$BTC Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit, has signed a memorandum of understanding (MoU) with Vietnam’s Military Commercial Joint Stock Bank (MB Bank) to launch Vietnam’s first domestically operated cryptocurrency exchange, during the Vietnam-Korea Economic Forum in Seoul.
This partnership marks a significant step toward formalizing Vietnam’s digital asset market, aligning with the country’s recent passage of the Law on Digital Technology Industry in July 2025, which aims to regulate and legalize cryptocurrencies.
Under the agreement, Dunamu will provide MB Bank with its advanced technological infrastructure, including security systems, anti-money laundering measures, and compliance with Financial Action Task Force (FATF) guidelines. Upbit, handling over $1.1 trillion in annual trading volume and ranking among the top three global exchanges, will share operational expertise to ensure a robust, secure platform. MB Bank, one of Vietnam’s largest banks with $50 billion in assets and 33 million customers, brings significant local clout, positioning the exchange to tap into Vietnam’s 20 million crypto users and $800 billion in blockchain-based asset inflows.
The collaboration also focuses on developing regulatory frameworks, investor protection mechanisms, and high-quality talent to support Vietnam’s digital financial ecosystem. This builds on earlier commitments made during a July 2025 meeting between Dunamu Vice Chair Kim Hyoung-nyon and Vietnamese Prime Minister Phạm Minh Chính, emphasizing Vietnam’s push for a regulated crypto market by July 2026, as noted by CoinStats.
What’s your take—will this Upbit-MB Bank partnership fast-track Vietnam’s crypto ambitions, or could regulatory and market challenges slow its rollout?
