Vietnam’s Military Bank Partners with Dunamu to Launch Nation’s First Regulated Crypto Exchange

Vietnamese state-controlled bank Military Bank (MB) has partnered with Dunamu, the parent company of South Korea’s Upbit exchange, to develop a regulated cryptocurrency trading platform in Vietnam. According to a recent announcement from Dunamu, the two entities signed a memorandum of understanding to collaborate on building a crypto exchange leveraging Dunamu’s technology. Military Bank confirmed on its official Facebook page that Dunamu will support the creation of the cryptocurrency exchange in Vietnam.

“MB and Upbit will be trusted partners, working together to promote Vietnam’s digital financial market,” said Military Bank Chairman Luu Trung Thai.

As a financial institution under the Vietnamese Ministry of National Defense, Military Bank’s involvement marks this crypto exchange as a government-led initiative.

Vietnam’s Crypto Regulation Takes Shape

Vietnam has been actively shaping its regulatory framework for digital assets and cryptocurrencies. In March, Deputy Minister of Finance Nguyen Duc Chi announced a pilot program for financial technology companies, including crypto exchanges. The State Bank of Vietnam (SBV) has also confirmed the establishment of a legal framework for digital assets, including tokenized assets. Deputy Governor of SBV, Pham Tien Dung, emphasized the importance of this pilot program alongside legislative measures such as a resolution by the National Assembly and a law on industry and digital technology.

“We’re acting through law to facilitate investment and business in this sector,” said SBV’s Dung.

Vietnam plans to pilot crypto exchanges at an international financial center, with multiple exchanges expected to be licensed under the new regulatory regime.

The First Regulated Crypto Exchange in Vietnam?

While Military Bank’s exchange is touted as potentially the first regulated crypto exchange under the new framework, Vietnam currently hosts several crypto trading platforms. BitcoinVN offers an instant exchange service without sign-up, supporting Bitcoin, Ether, USDt, and Ginero. Nami.Exchange, operated by Nami Technology JSC, also provides spot and futures crypto trading. However, with the forthcoming licensing requirements from the pilot regulatory regime, Military Bank’s exchange could become the first officially regulated platform in Vietnam.

Source: Vietnamese state-controlled bank Military Bank aims to launch the nation’s first regulated crypto exchange — Cointelegraph, published on Thu, 14 Aug 2025.

Frequently Asked Questions (FAQ)

Vietnam's Crypto Landscape

Q: What is the significance of Military Bank's partnership with Dunamu? A: The partnership between Military Bank (MB) and Dunamu, the operator of South Korea's Upbit exchange, is significant because it aims to launch Vietnam's first regulated cryptocurrency trading platform. Military Bank's status as a state-controlled entity under the Ministry of National Defense indicates a government-backed initiative. Q: How is Vietnam developing its cryptocurrency regulations? A: Vietnam is actively shaping its regulatory framework for digital assets. This includes a pilot program for financial technology companies, including crypto exchanges, announced by the Deputy Minister of Finance. The State Bank of Vietnam (SBV) is also working on establishing a legal framework for digital assets, including tokenized assets, and plans to pilot licensed crypto exchanges at an international financial center. Q: What makes Military Bank's planned exchange potentially the first regulated one in Vietnam? A: While other crypto trading platforms like BitcoinVN and Nami.Exchange currently operate in Vietnam, Military Bank's exchange is expected to be the first to be officially licensed and regulated under the new pilot regulatory regime, adhering to forthcoming licensing requirements. Q: What role does Dunamu play in this partnership? A: Dunamu, as the parent company of South Korea's Upbit exchange, will be leveraging its technology to support the creation and development of the new cryptocurrency exchange in Vietnam.

Crypto Market AI's Take

This development in Vietnam highlights a growing trend of traditional financial institutions collaborating with established cryptocurrency exchanges to enter the digital asset market in a regulated manner. Such partnerships are crucial for fostering trust and adoption, especially in emerging markets where regulatory clarity is a key factor. Our platform, Crypto Market AI, focuses on providing intelligent market analysis and tools that can assist both institutions and individual traders in navigating the complexities of the crypto landscape, ensuring they can make informed decisions within evolving regulatory environments. Understanding these strategic alliances is key to identifying future growth opportunities in the global cryptocurrency space.

Vietnam state-run Military Bank partners with Dunamu to launch crypto exchange