Military Bank (MB), a Vietnamese state-controlled lender, has announced a partnership with Dunamu, the parent company of South Korea’s Upbit exchange, to establish a regulated cryptocurrency exchange in Vietnam. This collaboration aims to enhance Vietnam’s digital financial market. The partnership was formalized through a memorandum of understanding, highlighting that Dunamu will provide technological support. MB operates under the Vietnamese Ministry of National Defense and this initiative represents a government-led effort in the crypto sector. Recent developments indicated that Vietnam is creating a legal framework for digital assets, following a pilot program for financial technology companies. This program is seen as vital for the future of crypto exchanges in Vietnam. Although there are existing exchanges like BitcoinVN and Nami.Exchange, MB's new platform could become the first to operate under the forthcoming regulatory regime, potentially marking a significant shift in Vietnam’s cryptocurrency landscape.

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