Dunamu and MB Bank Launch State-Endorsed Crypto Exchange

Dunamu has partnered with Vietnam’s MB Bank to launch the country’s first government-backed digital asset exchange. This collaboration was announced at the Korea–Vietnam Business Forum, with significant backing from Vietnamese government entities. “Together with MB Bank, we are set to pave the way for a fully regulated environment that enhances user trust and fosters significant market growth.” – Oh Kyoung-suk, CEO, Dunamu.

The partnership involves Dunamu, the operator of Upbit, and MB Bank, Vietnam’s state-controlled financial institution. Dunamu will handle tech and compliance while MB Bank manages operations, marking a major milestone in Vietnam’s digital asset market.

Vietnam Crypto Exchange to Attract Institutional Investors

Industry experts anticipate that this exchange will bolster Vietnam’s digital financial ecosystem, attracting institutional investors. The platform is expected to facilitate safe transactions, enhancing trust in digital asset trades among local users in Vietnam.

This initiative heralds significant financial growth opportunities due to Vietnam’s sizable crypto user base and trading volume. By aligning with the newly established digital asset laws, the venture receives a robust regulatory endorsement, promoting widespread adoption in the region.

Vietnam’s Unique State-backed Crypto Model Examined

Vietnam’s move mirrors state-sanctioned exchanges in Japan and the UAE’s regulated pilots. However, this partnership is distinct, being the first with explicit backing from a state-owned bank and the defense ministry in Vietnam.

Experts from Kanalcoin suggest that Vietnam’s regulated exchange model may serve as a blueprint for surrounding regions. This approach provides valuable insights into the potential for harnessing state-backed frameworks in the diverse Southeast Asian market.