Bithumb, South Korea’s second-largest cryptocurrency exchange, has signed a memorandum of understanding with SSID, a subsidiary of Vietnam’s largest securities firm SSI Securities, the company said on Thursday.

The agreement to jointly develop a local virtual asset exchange, signed March 2 at SSI’s Hanoi branch, was attended by Bithumb CEO Lee Jae-won, SSID CEO Nguyen Khac Hai and SSI Securities Chairman Nguyen Duy Hung.

The two sides will collaborate on technology architecture, wallet and custody systems, security and risk management, regulatory…