To launch the first locally operated cryptocurrency exchange in Vietnam, during the Vietnam-Korea Economic Forum in Seoul.
This partnership is an important step towards formalizing the digital asset market in Vietnam, in line with the country's recent adoption of the Digital Technology Industry Law in July 2025, which aims to regulate and legitimize cryptocurrencies.
Under the agreement, Dunamu will provide MB Bank with its advanced technological infrastructure, including security systems, anti-money laundering measures, and compliance with the Financial Action Task Force (FATF) guidelines. Upbit, which handles over $1.1 trillion in annual trading volume and ranks among the top three global exchanges, will share its operational expertise to ensure a robust and secure platform. MB Bank, one of the largest banks in Vietnam with $50 billion in assets and 33 million customers, brings significant local leverage, positioning the exchange to tap into 20 million cryptocurrency users in Vietnam and $800 billion in blockchain-based asset flows.
The partnership also focuses on developing regulatory frameworks, mechanisms to protect investors, and high-quality talent to support the digital financial system in Vietnam. This builds on previous commitments made during a meeting in July 2025 between Dunamu's Vice President Kim Hyung-nyun and Vietnam's Prime Minister Pham Minh Chinh, highlighting Vietnam's push towards a regulated crypto market by July 2026, as CoinStats noted.