Upbit operator Dunamu and MB Bank partner to launch Vietnam’s first crypto exchange

Discover key highlights within the NFT & Web3 area. This article dives into: “Upbit operator Dunamu and MB Bank partner to launch Vietnam’s first crypto exchange”.

Key Takeaways

• Dunamu and MB Bank are becoming a member of forces to launch Vietnam’s first regulated crypto exchange.
• Vietnam’s new Digital Technology Industry Law legalizes digital belongings and permits a proper market.

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Dunamu, the dad or mum firm of South Korea’s largest crypto exchange Upbit, has joined forces with Military Commercial Joint Stock Bank (MB), Vietnam’s main state-linked financial institution working beneath the Ministry of National Defense, to set up the nation’s first native digital asset exchange.

At the Vietnam-Korea Business Forum in Seoul this week, the 2 events formalized a Memorandum of Understanding (MoU). As a part of the settlement, Dunamu is about to assist MB as a strategic partner in expertise, infrastructure, compliance, investor safeguards, and workforce coaching.

The partnership comes after Vietnam handed the Law on Digital Technology Industry in June, aiming to promote nationwide digital transformation and elevate Vietnam’s place within the international tech market. The regulation will come into impact on January 1, 2026.

“The mixture of Vietnam’s growth potential and Dunamu’s proven Upbit model will give a significant opportunity to go beyond simply establishing a crypto exchange and design the entire national digital financial infrastructure based on trust,” stated Dunamu CEO Oh Kyoung-suk in an announcement.

MB Chairman Lưu Trung Thái acknowledged that MB and Upbit will collaborate as dependable companions to advance Vietnam’s digital finance sector.

Upbit, based in 2017, held up to 69% of South Korea’s home crypto market as of February 2025, in accordance to Kaiko Research. The platform serves over 10 million customers globally, together with in Southeast Asia.

In July, Dunamu’s co-founder and Vice Chairman Kim Hyoung-nyon met with Vietnamese Prime Minister Phạm Minh Chính. Kim pledged to share experience, guarantee security and transparency, and present options to appeal to home and worldwide buyers to Vietnam’s digital asset market.

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