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- Dunamu and MB Bank partner to launch Vietnam’s first regulated domestic crypto exchange.
- Vietnam prepares new crypto regulations and a pilot launch for August 2025.
Vietnam has partnered with Dunamu—the South Korean company that operates the Upbit exchange—to build its first domestic digital asset exchange. This ambitious project is being carried out in conjunction with MB Bank, one of the country’s most influential military-owned commercial banks.
The agreement was signed in Seoul at the Korea–Vietnam business forum. But this isn’t just a ceremony between institutions. This collaboration opens the door to a modern digital asset infrastructure truly tailored to local needs. From trading systems and storage technology to user protection regulations—all are on the to-do list.
Upbit itself is no newcomer to the industry. With a daily volume approaching $4 billion and total assets under management exceeding $11 billion, its reputation is undeniable.
Through Dunamu, they have also introduced a new service: Upbit Custody. Designed for large institutions and corporations, this service uses a 100% cold storage system, aka offline wallets, plus multi-secret key security and customizable wallets based on asset types. In short, it’s perfect for those who play big and don’t want to compromise on security.
Vietnam Goes All-In on Crypto Innovation
Meanwhile, the CNF reported in mid-June that the country officially legalized crypto assets, including Bitcoin. Yes, that’s right—Bitcoin is now legal in Vietnam. This isn’t just about digital currency, but part of their broader national strategy.
The country is promoting digital innovation across various fields, from crypto and artificial intelligence to semiconductors. They aim to become a magnet for global talent and global technology investors.
Furthermore, the government is also preparing a solid regulatory foundation. The Ministry of Finance and the Central Bank of Vietnam were mandated last March to develop a clear and reliable regulatory framework. Initially, there was talk of opening crypto transactions in financial centers starting in July 2026. However, this plan was later put on hold until all regulations were fully prepared.
Interestingly, this all comes at a time when the global digital asset market is booming. With more than 20 million Vietnamese registered to own digital assets and transaction values reaching hundreds of billions of dollars, the country’s potential is clearly enormous. Furthermore, Vietnam is now among the top five countries with the largest blockchain fund flows in the world. Quite surprising, right?
Big Plans, Real Moves in the Crypto Space
While this agreement sounds promising, there are still caveats. Many ambitious projects in Southeast Asia have failed due to changing regulations or delays. But so far, Vietnam seems quite determined. They are even preparing to establish an International Financial Center as part of their new digital ecosystem. The target? Completion within the next few months.
What is clear is that this collaboration between Dunamu and MB Bank is not merely symbolic. Vietnam is shaping up to become a major player in the digital asset world, and they know who to partner with. Upbit comes in as a strategic partner that brings not only technology but also experience in managing a robust, regulated ecosystem.
