South Korea's Dunamu joins forces with Vietnam's Military Bank to establish the country's first national cryptocurrency exchange.
Vietnam Establishes First State-Backed Crypto Exchange with South Korean Partner
In a significant move towards crypto adoption, Vietnam's Military Bank (MB) and South Korea's Dunamu have formed a strategic alliance to establish the country's first national, state-backed cryptocurrency exchange. This exchange, which operates under Vietnam's newly enacted digital asset laws, aims to serve over 20 million users in a market with trading volumes exceeding $800 billion.
The joint venture is a significant step towards Vietnam's integration into the global digital asset economy. It leverages Dunamu's proven infrastructure and Upbit's scalable trading technology alongside MB's extensive local presence and regulatory compliance, creating a trusted and legally supported platform.
Dunamu, operator of Upbit—the third largest global crypto exchange by volume and commanding 80% of South Korea's market—will supply core infrastructure, security protocols, compliance frameworks, and help navigate regulatory requirements. This ensures a reliable, scalable trading environment capable of handling high volumes.
MB, with over 33 million customers and managing nearly $50 billion in assets, provides crucial domestic operational management, regulatory compliance, and customer trust. Being state-linked, MB enables close alignment with government digital finance agendas and oversight, which is critical for mainstream adoption and integration into Vietnam’s financial system.
The alliance supports Vietnam’s ambition to become a regional leader in digital finance. It also addresses challenges such as anti-money laundering through Dunamu’s AI and data analytics expertise. The venture integrates with NDAChain, Vietnam's government-backed blockchain network for healthcare, logistics, and education, further catalyzing Vietnam’s digital asset ecosystem.
The partnership reflects Vietnam’s wider effort to learn from South Korean digital asset management experience, including collaborations with Korean financial groups like Hana Financial Group, aiming at innovation in blockchain financial products and investor protection. This initiative aligns with Vietnam’s broader national goals to modernize the digital economy.
In summary, the Dunamu-MB alliance establishes a regulated bridge for crypto adoption in Vietnam, introducing advanced technological infrastructure and regulatory models that formalize and boost a large existing market, positioning Vietnam as a future regional crypto hub with strong government backing. This is expected to accelerate mainstream acceptance and build investor confidence in digital assets across the country.
[1] Vietnam's Military Bank to Launch National Crypto Exchange with South Korea's Dunamu
[2] Vietnam's Military Bank and Dunamu Partner to Launch National Crypto Exchange
[3] Vietnam's Military Bank and Dunamu to Launch National Crypto Exchange
[4] Hana Financial Group to Collaborate with Vietnam on Blockchain Financial Products
[5] Vietnam's Crypto Trading Volume Exceeds $800 Billion
[1] The strategic alliance between Vietnam's Military Bank (MB) and South Korea's Dunamu will lead to the launch of a national, state-backed cryptocurrency exchange, designed to serve over 20 million users in Vietnam's thriving market.
[2] With the goal of Vietnam's integration into the global digital asset economy, MB and Dunamu are partnering to establish a state-backed cryptocurrency exchange, operating under Vietnam's digital asset laws and aiming for significant trading volumes.
[3] Working together, Vietnam's Military Bank (MB) and South Korea's Dunamu aim to set up a national cryptocurrency exchange, which has the potential to handle high volumes and facilitate crypto trading within a regulated environment, supported by both domestically and internationally recognized infrastructure.
