Dunamu, the operator of South Korea’s Upbit, has partnered with Vietnam’s state-controlled MB Bank to launch the country’s first licensed digital asset exchange. The agreement, formalized through a memorandum of understanding on August 12, 2025, will see Dunamu supplying its technology stack, compliance frameworks, and operational know-how. Meanwhile, MB Bank—one of Vietnam’s largest banks, serving some 33 million customers with assets near $50 billion—will handle the regulatory and operational side.
This collaboration marks a major step in Vietnam’s push to regulate its rapidly growing crypto market, which currently involves over 20 million users and valuations in the hundreds of billions. It aligns with a pivotal legal milestone: the Law on the Digital Technology Industry, passed in July 2025 and set to take effect in 2026, which formally brings digital assets under regulatory oversight.
By combining Dunamu’s Upbit-proven infrastructure with MB Bank’s institutional credibility, the partnership aims to create a trusted, secure crypto trading environment tailored for both retail and institutional participants. This initiative also signals Vietnam’s ambition to build a digital financial architecture, positioning itself as a regional leader in the fintech space.
Posted Using INLEO