Dunamu, MB Bank to Launch Vietnam's First Local Crypto Exchange

South Korea's Dunamu, operator of the Upbit cryptocurrency exchange, has partnered with Vietnam's state-owned Military Bank (MB Bank) to create the nation's first domestically operated digital asset platform. The deal was formalized at a business forum in Seoul attended by leaders from both countries.

MB Bank, one of Vietnam's five largest lenders, serves 33 million customers and has assets nearing 50 million. Dunamu will provide guidance on regulatory compliance, investor protection, and talent development. Its experience in developing Upbit into a major South Korean exchange - currently with nearly $4 billion in daily trading volume and over $11 billion in digital assets under management - was cited as a key factor in the partnership.

Vietnam recently approved the Law on Digital Technology Industry, which will bring digital assets under formal oversight starting January 2026. The government has also prepared a framework to pilot licensed exchanges from August, with multiple platforms to be admitted to foster competition. The pilot will require participants to meet strict requirements for technical standards, financial capacity, operational procedures, and anti-money laundering measures.

Vietnam ranks fifth globally for crypto adoption and blockchain inflows, with more than 20 million holders and $800 billion in trading volume. The country has also launched its national blockchain platform, NDAChain, and is preparing to establish an international financial center to support the sector's growth. Dunamu CEO Oh Kyoung-suk said the collaboration offers a chance to build "Vietnam's entire digital financial infrastructure on a foundation of trust."