South Korea’s Leading Crypto Exchange Operator Dunamu Partners with Vietnam’s Military Bank to Launch First Domestic Crypto Platform

South Korea’s Dunamu Partners Vietnam Military Bank to Launch Country’s First Crypto Exchange

South Korean cryptocurrency operator Dunamu, known for running Upbit, Korea’s largest crypto exchange, is partnering with Vietnam’s Military Commercial Joint Stock Bank (MB Bank) to create the nation’s first domestic digital asset exchange.

The collaboration was formalised through a memorandum of understanding (MOU) signed during the Korea–Vietnam Business Forum in Seoul, attended by senior business figures from both countries.

What Makes This Partnership Significant

Dunamu will serve as MB Bank’s strategic partner, offering technology, infrastructure, and advisory support for regulatory compliance, investor protection, and talent development.

A company representative highlighted the importance of the deal, noting that “the partnership is especially significant as Dunamu is exporting Korea’s exchange model and technology as part of an overseas state-led initiative.”

MB Bank, a joint-stock commercial bank under Vietnam’s Ministry of National Defence, ranks among the country’s top five banks, serving 33 million customers and managing total assets approaching $50 billion.

Vietnam’s Digital Finance Market Shows Strong Potential

Vietnam has a rapidly growing virtual asset market, with over 20 million digital asset holders and an estimated annual transaction volume exceeding $800 billion.

Dunamu CEO Oh Kyung-suk said,

“When this growth potential meets the Upbit model, it will be a chance to build not just an exchange but Vietnam’s entire digital financial infrastructure on a foundation of trust.”

The move follows Vietnam’s efforts to regulate digital assets, including the recent passage of the Law on Digital Technology Industry and ‘Resolution No. 57’, which aims to make science, technology, and innovation a key driver of national development.

Upbit’s Experience Brings Proven Expertise

Upbit, ranked as the world’s third-largest crypto exchange, manages over 15.3 trillion won ($11 billion) in assets and handles more than $1.1 trillion in trades annually.

Dunamu’s technology, regulatory expertise, and operational experience are central to Vietnam’s digital market development.

Oh added,

“Upbit is not merely a technologically advanced exchange but a comprehensive platform that thoroughly internalises planning, operations, compliance, and asset management. We will offer all-round support so that the Vietnamese government can stably build a digital financial ecosystem on the foundation of reliable technology.”

Strong Government Backing Supports Collaboration

The partnership also builds on prior engagement between Dunamu and Vietnamese authorities.

In July, Dunamu Vice Chair Kim Hyoung-nyon met Prime Minister Pham Minh Chinh, reaffirming the company’s commitment to supporting Vietnam’s digital economy.

MB Bank Chair Luu Trung Thai commented,

“MB and Upbit will work together as trusted partners to advance Vietnam’s digital finance market.”

This alliance positions Vietnam to leverage South Korea’s exchange model and regulatory experience, signalling a major step in shaping the country’s digital asset landscape while providing a structured, trusted platform for local investors.