Vietnam’s MB Bank and UpBit’s parent Build Crypto Exchange
Vietnamese state-controlled bank Military Bank (MB) plans to launch a regulated crypto exchange in partnership with Dunamu, the parent company of South Korean crypto exchange Upbit.
According to a Wednesday announcement from Dunamu, the company has signed a memorandum of understanding with Military Bank. In a Facebook post, Military Bank said Dunamu will support it building a cryptocurrency exchange in Vietnam with its technology.
“MB and Upbit will be trusted partners, working together to promote Vietnam’s digital financial market,” Military Bank Chairman Luu Trung Thai said.
Military Bank is a financial institution under the Vietnamese Ministry of National Defense, making the crypto exchange a government-led initiative.
