Breaking: Dunamu and MB Bank Launch Vietnam’s First Licensed Crypto Exchange

Vietnam's crypto scene just got a seismic upgrade. South Korea's Dunamu—operator of Upbit—teams up with MB Bank to crack open the market with the country's first fully regulated digital asset exchange.

Why it matters: Vietnam ranks among the top 20 crypto-adopting nations globally, yet until now lacked a homegrown exchange compliant with the State Bank of Vietnam's tightening regulations. This joint venture bypasses the gray market by bringing institutional-grade infrastructure to retail traders.

The fine print: No official launch date yet, but insiders hint at Q4 2025 rollout. Expect KYC hurdles higher than a Hanoi skyscraper—MB Bank's involvement means strict AML protocols. Trading pairs? Likely VND-dominated with selective international coins.

Between the lines: Dunamu gets a Southeast Asian beachhead while MB Bank hedges against Vietnam's weakening dong. Because nothing says 'modern banking strategy' like courting crypto profits while regulators play whack-a-mole with unlicensed platforms.

Bottom line: A watershed moment for Vietnam's digital economy—if the partners can navigate the political tightrope between innovation and control.

TLDR

• Dunamu and MB Bank join forces to create Vietnam’s first regulated crypto exchange.

• Vietnam’s new law on digital technology supports the launch of a formal crypto market.

• Dunamu’s Upbit exchange model will aid in building a secure and trusted market.

• The collaboration aims to position Vietnam as a leader in the digital finance sector.

Dunamu, the parent company of South Korea’s largest cryptocurrency exchange Upbit, has formed a strategic partnership with Military Commercial Joint Stock Bank (MB). The collaboration aims to establish Vietnam’s first local digital asset exchange. This partnership was officially formalized at the Vietnam-Korea Business Forum held in Seoul this week. The deal includes Dunamu offering support to MB for infrastructure, technology, compliance, and workforce training.

This venture marks a key step in the development of Vietnam’s digital asset market, which is poised for significant growth. According to Dunamu CEO Oh Kyoung-suk, the combination of Vietnam’s growing potential and the proven success of Upbit’s model presents a unique opportunity to build not just a crypto exchange but an entire digital financial infrastructure based on trust.

Vietnam’s New Law and Digital Asset Market

In June, Vietnam passed the Law on Digital Technology Industry, legalizing digital assets in the country. The law, set to take effect in January 2026, is a crucial milestone for the nation’s growing digital finance sector. The framework aims to promote the country’s digital transformation and position it as a competitive player in the global technology market.

The passing of this law sets the stage for the launch of the crypto exchange. As digital assets become legally recognized, it opens doors for more institutions and investors to engage in Vietnam’s digital asset market.

This legal development aligns with the strategic partnership between Dunamu and MB Bank, aiming to create a regulated and trustworthy platform for crypto trading.

Dunamu’s Role in Vietnam’s Digital Finance Sector

Dunamu, with its experience operating Upbit, brings a wealth of expertise to this partnership. Upbit is one of the largest and most successful cryptocurrency exchanges in South Korea, holding a significant portion of the market share. As of early 2025, Upbit serves over 10 million users globally, including a growing number in Southeast Asia.

Dunamu’s involvement in the project will focus on providing robust technical infrastructure, ensuring compliance with local regulations, and safeguarding investors.

Additionally, Dunamu aims to support MB Bank in training local talent to help foster a skilled workforce in the growing digital finance sector in Vietnam. This partnership will play a pivotal role in building a secure and trusted market for investors.

Strengthening Vietnam Position in the Digital Economy

Vietnam’s digital economy is poised to grow rapidly, and this new partnership is expected to be a driving force behind the country’s digital asset market. MB Bank’s involvement, with its solid background in the financial sector, further strengthens the credibility of the initiative. MB Bank operates under the Ministry of National Defense, and its reputation provides a stable foundation for the new crypto exchange.

Dunamu and MB Bank’s combined efforts will not only provide a platform for crypto trading but will also contribute to the national digital transformation goals. The exchange will cater to both domestic and international investors, providing a secure, regulated, and accessible environment for crypto investments.

The partnership also aligns with broader regional trends, as countries in Southeast Asia continue to explore and expand their digital finance sectors. Vietnam’s entry into the market with a regulated crypto exchange is a significant step in the region’s growing digital economy.