Key Takeaways:
- Vietnam’s Military Bank is partnering with Upbit’s parent company Dunamu to launch a regulated crypto exchange.
- The exchange aligns with new government-backed initiatives and a legal framework for digital assets in Vietnam.
- This may become Vietnam’s first regulated crypto exchange, despite the presence of other active platforms.
Vietnam’s state-run Military Bank (MB) is partnering with Dunamu, the South Korean firm behind Upbit, to launch a regulated cryptocurrency exchange in Vietnam.
The collaboration follows the signing of a memorandum of understanding, with Dunamu set to provide the technology to establish the platform.
Vietnam to Launch First State-Backed Crypto Exchange.
— TheCryptoBasic (@thecryptobasic) August 13, 2025
Vietnam is set to launch its first homegrown cryptocurrency exchange.
This comes following a partnership between the Vietnamese state-controlled Military Bank and the operators of South Korea’s Upbit exchange, Dunamu.
Local… pic.twitter.com/BV006QtxVB
MB Chairman Luu Trung Thai described the partnership as a move to advance Vietnam’s digital financial market.
As a financial institution under the Ministry of National Defense, MB’s involvement signals a government-led push into the digital asset sector.
This comes amid broader regulatory progress, including a pilot program for fintech firms and confirmation from the State Bank of Vietnam that a legal framework for digital and tokenized assets is in place.
Authorities plan to pilot crypto exchanges at an international financial center, with multiple participants expected.
While some reports call this Vietnam’s first domestic crypto exchange, platforms such as BitcoinVN and Nami.Exchange are already active.
However, MB and Dunamu’s venture may become the first to operate under the country’s new regulatory structure, potentially setting a precedent for future government-backed crypto initiatives.
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