Dunamu, Vietnam Military Bank Jointly Establish Crypto Exchange

Dunamu, the operator of Upbit, has signed a technology partnership Memorandum of Understanding (MOU) with Vietnam's Military Bank (MB) to support the establishment of a virtual asset exchange. This agreement, made at the 'Korea-Vietnam Business Forum' held in Seoul on the 12th, aims to vitalize Vietnam's digital financial ecosystem. Military Bank, a financial institution under the Ministry of National Defense of Vietnam, was established in 1994 and is one of Vietnam's top four banks with approximately 30 million customers, actively promoting the digital transformation of the nation's finance. As Military Bank's key strategic partner, Dunamu will support the establishment of a virtual asset exchange in Vietnam and will also collaborate on establishing virtual asset-related laws, regulations, and investor protection mechanisms. Dunamu plans to transfer advanced technology and operational capabilities, including Upbit's high-performance infrastructure, robust security system, experience in regulatory compliance, and talent development know-how. Upbit ranks among the top three globally by transaction volume, recording an annual transaction volume of $1,000,035,000,000 and proving its reliability by complying with the regulations of the Financial Action Task Force (FATF). This partnership aligns with Vietnam's 'Resolution No. 57,' which designates science and technology as key drivers for national development, and is interpreted as part of the country's economic and industrial reforms. Dunamu CEO Oh Kyung-seok stated, "Over 20 million virtual asset holders, an annual transaction volume exceeding $800 billion, and a global top 5 level of blockchain asset inflow demonstrate Vietnam's immense potential." He emphasized that this will be an opportunity to design Vietnam's national digital financial infrastructure on a foundation of trust through synergy with the proven Upbit model. Ryu Jung-tai, Chairman of Military Bank, also expressed expectations for the two companies' cooperation for the growth and development of Vietnam's digital financial market. Approximately 500 high-ranking officials and business leaders from both countries, including the General Secretary of the Communist Party of Vietnam and the Prime Minister of South Korea, attended the forum that day, and a total of 52 MOUs were signed across various sectors such as industry, energy, food, and tourism, solidifying the commitment to expanding comprehensive cooperation between the two nations.