Dunamu, operator of the Upbit platform, announced a partnership with Vietnam's MB Bank to launch the country's first government-backed digital asset exchange in August 2025. This move signifies a significant advancement in the realm of digital finance in Vietnam.
Launch of the Government Exchange
The partnership between Dunamu and MB Bank was announced at the Korea-Vietnam Business Forum, with significant backing from Vietnamese government entities. 'Together with MB Bank, we are set to pave the way for a fully regulated environment that enhances user trust and fosters significant market growth,' said Oh Kyoung-suk, CEO of Dunamu.
Attracting Institutional Investors
Industry experts anticipate that this exchange will bolster Vietnam's digital financial ecosystem, attracting institutional investors. The platform is expected to facilitate safe transactions, enhancing trust in digital asset trades among local users.
Vietnam's Unique Model
Vietnam's initiative mirrors state-sanctioned exchanges in Japan and the UAE's regulated pilots; however, this partnership is unique in that it is the first with explicit backing from a state-owned bank and the defense ministry in Vietnam. Experts suggest that Vietnam's regulated exchange model may serve as a blueprint for surrounding regions in Southeast Asia.
The launch of Vietnam's first government-backed digital asset exchange represents an important step in the development of blockchain technologies and may serve as a model for other countries in the region.
