South Korean cryptocurrency operator Dunamu, known for running Upbit, Korea’s largest crypto exchange, is partnering with Vietnam’s Military Commercial Joint Stock Bank (MB Bank) to create the nation’s first domestic digital asset exchange.
The collaboration was formalised through a memorandum of understanding (MOU) signed during the Korea–Vietnam Business Forum in Seoul, attended by senior business figures from both countries.
Dunamu will serve as MB Bank’s strategic partner, offering technology, infrastructure, and advisory support for regulatory compliance, investor protection, and talent development.
A company representative highlighted the importance of the deal, noting that “the partnership is especially significant as Dunamu is exporting Korea’s exchange model and technology as part of an overseas state-led initiative.”
MB Bank, a joint-stock commercial bank under Vietnam’s Ministry of National Defence, ranks among the country’s top five banks, serving 33 million customers and managing total assets approaching $50 billion.
Vietnam has a rapidly growing virtual asset market, with over 20 million digital asset holders and an estimated annual transaction volume exceeding $800 billion.
Dunamu CEO Oh Kyung-suk said,
“When this growth potential meets the Upbit model, it will be a chance to build not just an exchange but Vietnam’s entire digital financial infrastructure on a foundation of trust.”
The move follows Vietnam’s efforts to regulate digital assets, including the recent passage of the Law on Digital Technology Industry and ‘Resolution No. 57’, which aims to make science, technology, and innovation a key driver of national development.
Upbit, ranked as the world’s third-largest crypto exchange, manages over 15.3 trillion won ($11 billion) in assets and handles more than $1.1 trillion in trades annually.
Dunamu’s technology, regulatory expertise, and operational experience are central to Vietnam’s digital market development.
Oh added,
“Upbit is not merely a technologically advanced exchange but a comprehensive platform that thoroughly internalises planning, operations, compliance, and asset management. We will offer all-round support so that the Vietnamese government can stably build a digital financial ecosystem on the foundation of reliable technology.”
The partnership also builds on prior engagement between Dunamu and Vietnamese authorities.
In July, Dunamu Vice Chair Kim Hyoung-nyon met Prime Minister Pham Minh Chinh, reaffirming the company’s commitment to supporting Vietnam’s digital economy.
MB Bank Chair Luu Trung Thai commented,
“MB and Upbit will work together as trusted partners to advance Vietnam’s digital finance market.”
This alliance positions Vietnam to leverage South Korea’s exchange model and regulatory experience, signalling a major step in shaping the country’s digital asset landscape while providing a structured, trusted platform for local investors.
The White House is planning to acquire large amounts of Bitcoin for a strategic reserve, with support for the Bitcoin Act that proposes purchasing up to $80 billion worth of Bitcoin. The government aims to do this in a budget-neutral way, possibly using gold certificates, though the feasibility remains unclear.
WeatherlyWall Street warns investors of AI risks, including hallucinations, cybercrime, employee morale, and shifting regulations, raising concerns about its long-term market impact.
KikyoSingapore and Malaysia are investigating a $390 million fraud case involving US-made servers, possibly containing Nvidia chips, that may have been illegally sent to China’s DeepSeek. Three men face charges for misrepresenting the servers' destination, while US authorities probe whether export restrictions were violated.
AnaisA recent poll shows 51% of Americans fear Trump’s policies will weaken the economy, with over 70% calling current conditions poor. Is the confidence in the president fading?
CatherineRussia is increasingly using cryptocurrencies like Bitcoin and Tether to conduct oil trade with China and India, bypassing Western sanctions. The use of intermediaries and offshore accounts has made crypto a key tool in these transactions, speeding up operations despite financial restrictions.
WeatherlyGemini set a Guinness World Record by using 1,000 drones to form the Bitcoin logo in the sky over Austin, Texas. The event celebrated Bitcoin's role in the US Strategic Bitcoin Reserve initiative and showcased the growing influence of cryptocurrency.
AnaisAmerican streamer Amouranth survived a violent home invasion in Houston, where armed intruders assaulted her and demanded her cryptocurrency keys. Four suspects, including two teenagers, were arrested, and the case highlights the rising danger of criminals targeting people with significant digital assets.
JoyJames Howells' request to search a landfill for a hard drive containing 8,000 Bitcoin was rejected by the UK Court of Appeal, marking a setback in his legal battle. He plans to appeal to the European Court of Human Rights, but the landfill is set to close soon, making the search more difficult.
WeatherlyThe Bank of Korea rejected the idea of holding Bitcoin in its foreign exchange reserves due to concerns about volatility and liquidity. Despite growing political interest in Bitcoin reserves, the central bank remains cautious and aligns with global trends of skepticism.
AnaisNorth Korea's Lazarus Group has become one of the largest Bitcoin holders, controlling 13,562 BTC, after stealing $1.46 billion in a crypto heist. This makes North Korea one of the top government holders of Bitcoin, raising concerns about their intentions and role in global cybercrime.
Anais