Bithumb, a major virtual asset exchange in South Korea, and SSID, a subsidiary of Vietnam’s stock broker SSI Securities, will jointly launch and operate on a virtual asset exchange business in Vietnam.

In a statement on Thursday, Bithumb said the two sides signed a memorandum of understanding (MOU) to establish a strategic partnership for the move, featuring Bithumb CEO Lee Jae-won and SSID CEO Nguyen Khac Hai.

According to Bithumb, the agreement also includes the possibility of a strategic equity investment by Bithumb in an SSID-designated entity, subject to future regulatory approval for virtual assets in Vietnam.

The two companies said they plan to cooperate in areas including technology architecture and development,…