Dunamu, the operator of the virtual asset exchange Upbit, is a company that has attracted attention for its rapid growth. (Photo courtesy of Dunamu)
SEOUL, Aug. 13 (Korea Bizwire) — South Korean cryptocurrency exchange operator Dunamu Inc. said Wednesday it has signed a memorandum of understanding (MOU) with a Vietnamese bank to assist the establishment of a cryptocurrency exchange in the Southeast Asian country.
The deal with Military Commercial Joint Stock Bank, a financial institution under Vietnam’s defense ministry, was reached on the sidelines of a business forum held the previous day, which brought together top business leaders from South Korea and Vietnam, Dunamu said.
Under the agreement, Dunamu will assist the Vietnamese bank in establishing a cryptocurrency exchange in Vietnam, as well as the setting up of legal frameworks related to virtual assets.
Businesses leaders pose for a photo at the South Korea-Vietnam business forum in central Seoul, on Aug. 12, 2025, in this photo provided by Dunamu Inc. (Yonhap)
It will also provide various technologies used in its cryptocurrency exchange, Upbit, along with the company’s expertise in infrastructure and human resources management.
“We are committed to providing comprehensive support to the Vietnamese government in building a stable digital finance ecosystem based on reliable technology,” Oh Kyung-seok, Dunamu’s chief executive officer, said.
Vietnam has a large and active virtual asset market, with more than 20 million people owning virtual assets, such as cryptocurrencies, and an estimated annual transaction volume of over US$800 billion, according to Dunamu.
(Yonhap)
