Upbit’s parent company, South Korean firm Dunamu, is joining forces with Vietnam’s Military Bank (MB Bank) to introduce Vietnam’s first-ever locally developed digital asset exchange. This collaboration was solidified by the signing of a memorandum of understanding (MoU) on August 12, 2025, at the Korea–Vietnam business forum held in Seoul. This marks a significant step forward for Vietnam’s digital finance ambitions, as the nation has, until now, lacked regulated domestic cryptocurrency trading platforms.
Under the agreement, Dunamu will supply the new exchange with its advanced technological base, regulatory understanding, and robust investor safety protocols. MB Bank, a leading Vietnamese financial institution with assets nearing $50 billion and a customer base exceeding 33 million, will oversee the operational aspects and ensure adherence to local regulations. The shared objective is to build a secure and internationally compliant trading platform, showcasing the growing convergence of traditional banking and the digital asset space.
This venture aligns with Vietnam’s wider legislative efforts to officially recognize and structure its digital asset market. The National Assembly approved the Law on Digital Technology in June 2025, which legally recognizes virtual assets and paves the way for institutional involvement. Dunamu’s CEO, Oh Kyoung-suk, highlighted Vietnam’s considerable potential, noting that the country boasts over 20 million virtual asset owners and that trading volumes surpass $800 billion, placing it among the global top five for blockchain-based asset inflows. Oh believes that this rapid expansion, combined with Dunamu’s expertise from Upbit, presents an opportunity to construct Vietnam’s entire digital financial foundation on a bedrock of trustworthiness.
MB Bank’s Chairman, Luu Trung Thai, echoed this optimistic outlook, emphasizing the partnership’s role in propelling Vietnam’s digital finance sector forward. The initiative also underscores South Korea’s commitment to exporting its established cryptocurrency exchange model, supported by a state-backed strategy. This encompasses not only the transfer of technology but also the cultivation of talent in blockchain and fintech, investments designed to reinforce Vietnam’s long-term digital economy.
While the precise launch date remains unconfirmed, the collaboration is already being lauded as a landmark achievement in Vietnam’s financial evolution. As the nation continues to refine its regulatory environment and strengthen its digital infrastructure, Vietnam’s prospects for becoming a prominent regional hub in the digital asset sphere are rapidly improving.
Source: [1] title1………………………..(https://www.ccn.com/news/crypto/upbit-parent-dunamu-tech-and-compliance-support-vietnams-domestic-crypto-exchange/)
[2] title2………………………..(https://www.cryptopolitan.com/vietnam-s-first-crypto-exchange-dunamu/)
[3] title3………………………..(https://vir.com.vn/dunamu-and-military-bank-to-launch-vietnams-first-digital-asset-exchange-134397.html)
[4] title4………………………..(https://cryptonews.com/news/dunamu-mb-bank-to-launch-vietnams-first-crypto-exchange/)
[5] title5………………………..(https://www.koreaherald.com/article/10553213)
[6] title6………………………..(https://www.kucoin.com/news/flash/dunamu-and-mb-bank-to-establish-vietnam-s-first-crypto-exchange)
[7] title7………………………..(https://x.com/Cointelegraph/status/1955894800479060004)
[8] title8………………………..(https://www.odaily.news/en/newsflash/443382)