MB Bank and Dunamu planning to debut Vietnam's inaugural cryptocurrency exchange

In a significant move, South Korea's Dunamu and Vietnam's Military Bank have partnered to establish Vietnam's first domestic digital asset exchange. This collaboration was formalized in August 2025, positioning Vietnam on a pathway to a fully regulated and state-sanctioned digital asset market.

The partnership is a cornerstone for Vietnam's advancing digital asset ecosystem, blending South Korean technological leadership with Vietnamese institutional support.

Dunamu, the operator of Upbit - one of the world’s largest and most liquid crypto exchanges, provides the core exchange infrastructure, trading systems, security protocols, and compliance frameworks. This ensures the Vietnamese platform will be scalable and able to handle large trading volumes effectively.

Military Bank, a state-controlled institution under Vietnam’s Ministry of National Defence with over 33 million customers, oversees local operations, regulatory compliance, and customer engagement. Its government linkage ensures official state backing, enhances public trust, and integrates the exchange into Vietnam’s national digital finance strategy.

Vietnam has a large and rapidly growing crypto user base (over 20 million), with annual trading volumes exceeding $800 billion. The partnership uses this momentum to formalize the market under Vietnam’s new legal framework recognizing digital assets, encouraging both domestic and international participation in a secure and regulated environment.

This exchange aligns with national goals for digital economy development, improves access to blockchain technology and financial services (including remittances), and sets a model for cross-border collaboration in Southeast Asia’s emerging crypto markets.

The agreement between Dunamu and Military Bank is significant in Vietnam's move to bring digital assets under formal oversight. It also marks a significant step in exporting Korea's exchange model and technology overseas.

In July, Vietnam passed the Law on Digital Technology Industry to legalize digital assets and establish a regulated market. Dunamu, which has played a key role in shaping Korea's crypto ecosystem and regulatory landscape, will also advise on regulatory compliance, investor protection, and talent development for the new digital asset exchange.

The partnership between Dunamu and Military Bank was officially signed at a business forum in Seoul on Tuesday. In July, Dunamu Vice Chair and co-founder Kim Hyoung-nyon met with Prime Minister Pham Minh Chinh, pledging the company's commitment to cooperation in Vietnam's digital economy.

Military Bank, a subsidiary of the Ministry of National Defence in Vietnam, ranks among Vietnam's five largest banks, serving 33 million customers and holding total assets nearing $50 billion. The partnership positions Military Bank as a key player in Vietnam's digital asset market.

Sources: [1] Business Korea. (2025, August 1). Dunamu to partner with Military Bank to launch Vietnam's first digital asset exchange. https://www.businesskorea.co.kr/news/articleView.html?idxno=71662

[2] ZDNet. (2025, August 1). Dunamu and Military Bank partner to launch Vietnam's first digital asset exchange. https://www.zdnet.com/article/dunamu-and-military-bank-partner-to-launch-vietnams-first-digital-asset-exchange/

[3] The Investor. (2025, August 1). Dunamu to partner with Military Bank to launch Vietnam's first digital asset exchange. https://www.theinvestor.co.kr/news/150529

[4] Yonhap News. (2025, August 1). Dunamu, Military Bank to launch Vietnam's first digital asset exchange. https://en.yna.co.kr/view/AEN20250801006600325

[5] Bloomberg. (2025, August 1). Dunamu and Military Bank Partner to Launch Vietnam's First Digital Asset Exchange. https://www.bloombergquint.com/global-economics/dunamu-and-military-bank-partner-to-launch-vietnams-first-digital-asset-exchange

MB Bank and Dunamu planning to debut Vietnam's inaugural cryptocurrency exchange