According to the agreement, Dunamu will become a key strategic partner of MB, sharing technology and infrastructure while also providing guidance on legal compliance, investor protection, and human resource development.
According to The Korea Herald, Dunamu will collaborate with the Military Commercial Joint Stock Bank (MB) to launch Vietnam’s first domestic digital asset exchange.The memorandum of understanding (MoU) was signed on Tuesday at the Vietnam–Korea Business Forum in Seoul, with the participation of business leaders from both countries.
“This agreement is particularly significant as it marks the export of Korea’s exchange operation model and technology to overseas markets,” a Dunamu representative stated.
Under the agreement, Dunamu will become a key strategic partner of MB, sharing technology and infrastructure, while also advising on legal compliance, investor protection, and human resource development.
This partnership comes as Vietnam is pushing to bring digital assets under an official regulatory framework. In July, the Digital Technology Industry Law was passed, legalizing these assets and laying the foundation for a regulated market.
“Vietnam holds huge potential, with over 20 million people owning virtual assets, a transaction volume exceeding USD 800 billion, and ranking fifth globally in blockchain asset inflows,” said Dunamu CEO Oh Kyoung-suk. According to Dunamu, when this growth potential is combined with the Upbit model, it will not only build an exchange but also lay the foundation for the entire digital financial infrastructure of Vietnam based on trust.
MB Chairman Lưu Trung Thái stated: “MB and Upbit will work together as trusted partners to promote the development of Vietnam’s digital financial market.”
Founded in 2017, Dunamu operates Upbit, the largest centralized digital asset exchange in Korea, ranked third in the world, holding about 80% market share domestically, serving 6 million customers, recording over USD 1.1 trillion in transaction volume in 2024, and managing more than USD 80 billion in digital assets. Beyond making Upbit Korea’s leading exchange, Dunamu has played a role in shaping the country’s cryptocurrency ecosystem and legal framework.
In July, Kim Hyoung-nyon, Vice Chairman and Co-founder of Dunamu, met with Vietnamese Prime Minister Phạm Minh Chính, pledging to accompany Vietnam in developing its digital economy. The Prime Minister highly valued Dunamu’s financial and technological capacity and welcomed the group’s interest in investing and developing in Vietnam, especially in the digital asset and cryptocurrency sectors.
At the meeting, the Prime Minister encouraged Dunamu to expand investment in Vietnam, noting that MB is a reputable Vietnamese bank, and suggested that MB and the two conglomerates cooperate closely and effectively, contributing to strengthening the Vietnam–Korea Comprehensive Strategic Partnership.
Kim Hyoung-nyon, Vice Chairman and Co-founder of Dunamu, affirmed that the group is committed to sharing its experience and actively cooperating with Vietnam in the fields of digital currency and digital assets, in line with the Prime Minister’s guidance. He said Dunamu will provide the best solutions and services, ensuring safety and transparency, thereby attracting both Vietnamese and international investors.