On July 29, 2025, Vietnamese Prime Minister Phạm Minh Chính met with top executives from Dunamu—the operator of South Korea’s leading crypto exchange Upbit—and Hana Group, a major South Korean financial institution, to advance Vietnam’s goal of establishing a regulated digital asset framework. This meeting marks a key moment in the country's growing crypto ambitions, following prior discussions with platforms like Binance and Bybit.
Dunamu and Hana Group offered insights from South Korea’s well-developed crypto ecosystem and pledged to assist Vietnam in creating a transparent, secure digital asset exchange. Their commitment includes supporting blockchain innovation and helping shape a legal structure that protects investors. This aligns with Vietnam’s broader economic goal of achieving at least 8% growth in 2025. PM Chính also highlighted a partnership with MB Bank—one of Vietnam’s top commercial banks—to further drive digital transformation through shared expertise and technology transfer.
This effort adds momentum to Vietnam’s ongoing regulatory push. Back in March 2025, the Ministry of Finance and the State Bank of Vietnam were instructed to finalize crypto regulations by the end of the month, including launching a state-sanctioned digital exchange pilot, per Deputy Minister Nguyễn Đức Chi.
Despite these proactive steps, Vietnam’s crypto market still operates in a legal gray zone. Digital assets are not formally recognized as property, which has fueled speculative investing. Experts at RMIT’s FinTech-Crypto Hub warn that although the government’s direction is encouraging, vague regulations and possible bureaucratic roadblocks could stall progress. While the expertise of Dunamu and Hana could help close the regulatory gap, blending global best practices with Vietnam’s emerging market conditions presents real challenges.
So, the big question is: will this collaboration with Upbit and Hana accelerate Vietnam’s path to becoming a crypto hub—or will red tape and market uncertainty hold it back?
