Binance Invited to Headquarter in Vietnam, Boost Crypto Market
Vietnam's Deputy Prime Minister Nguyen Hoa Binh, during a visit to the UAE, has invited Binance, the world's largest cryptocurrency exchange, to establish a headquarters in Danang and cooperate in developing Vietnam's International Financial Center and crypto asset market.
Binh, who visited the UAE recently, encouraged Binance to work with Vietnam's International Financial Center to deploy a crypto asset exchange. He also invited Binance CEO Richard Teng to serve as a senior advisor in developing the center. Binance, which has a seat in Danang, has agreed to share experience and cooperate in developing Vietnam's crypto asset market and International Financial Center. An MoU on cooperation in developing blockchain technology and digital assets was signed between Binance and Danang city's People's Committee.
Vietnam is piloting a digital asset market for five years, with enterprises meeting certain conditions granted licenses for exchange platform services. Several businesses and banks in Vietnam are preparing to establish digital asset exchanges or enter the field. In the UAE, Deputy PM Binh met with Bybit, the largest cryptocurrency exchange in the UAE, which expressed willingness to support Vietnam's digital asset development.
Binance, processing over $16 billion in daily transactions and surpassing a cumulative trading volume of $100 trillion in 2024, is set to play a significant role in Vietnam's digital asset development. With its cooperation and experience-sharing, Vietnam's International Financial Center and crypto asset market are poised for growth.
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