TechFlow news, August 14 — According to The Korea Herald, on August 13, Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, signed a memorandum of understanding with Vietnam Military Commercial Joint Stock Bank (MB Bank) in Seoul to jointly build Vietnam's first domestic digital asset exchange.
Under the agreement, Dunamu will serve as MB Bank’s core strategic partner by providing technological and infrastructure support, as well as advisory services on regulatory compliance, investor protection, and talent development. This move marks a significant step following Vietnam’s passage of the Digital Technology Industry Act in July this year.
Data shows that Vietnam currently has over 20 million digital asset holders, with transaction volumes exceeding $800 billion, making it the fifth-largest recipient of blockchain assets globally. MB Bank, one of Vietnam’s top five banks, serves 33 million users and holds total assets nearing $50 billion.
Upbit, operated by Dunamu, ranks as the world’s third-largest cryptocurrency exchange, with trading volumes surpassing $1.1 trillion and assets under management exceeding 153,000 billion KRW (approximately $11 billion).
