Bithumb, SSI Digital sign MOU to launch Vietnam crypto exchange
Bithumb and SSI Digital signed an MOU in March to develop and run a cryptocurrency exchange in Vietnam, collaborating on wallets, custody, security, risk management and compliance.
South Korea's Bithumb and SSI Digital (SSID) signed a memorandum of understanding in March to build and operate a digital asset trading platform in Vietnam, the companies announced Thursday.
Under the MOU, the partners will develop wallet and custody systems, security protocols, risk management and compliance frameworks, and coordinate business and product development for the local exchange.
SSID is a unit of SSI, Vietnam’s largest securities firm, which backs startups in blockchain and artificial intelligence.
Bithumb said any direct investment in the venture would depend on approval from Vietnamese regulators; the press release added the company may consider a strategic investment in the planned exchange if authorities permit.
The press release stated, “We will make strict compliance with the regulatory environment of Vietnam's financial authorities our top priority and work together [with SSID] to build a safe virtual asset trading infrastructure.”
The firms did not provide a launch timeline or disclose the size of any potential investment.
Vietnam has an active crypto user base, with about 17 million people holding digital assets. Industry data ranked Vietnam fourth on the 2025 Global Crypto Adoption Index, citing uses such as remittances, gaming and savings.
Regional exchanges have pursued partnerships in Vietnam: last August, Dunamu, operator of Upbit, signed an MOU with the state-run Military Bank to transfer technology and security systems to support a local trading platform.
Bithumb has faced regulatory and operational scrutiny recently. The company pushed back its planned initial public offering from late 2025 to 2028, and earlier this year an employee error led to the accidental distribution of about 620,000 BTC to customers, prompting questions about internal controls.
Both firms said they will build compliance systems to meet Vietnamese requirements, but final approval from regulators will determine whether and how the exchange proceeds.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
