Dunamu (Upbit) teams up with MB Bank to launch Vietnam’s first licensed crypto exchange

Dunamu, the operator of South Korea’s Upbit, has partnered with Vietnam’s state-controlled MB Bank to launch the country’s **first licensed digital asset exchange**. The agreement, formalized through a memorandum of understanding on August 12, 2025, will see Dunamu supplying its technology stack, compliance frameworks, and operational know-how. Meanwhile, MB Bank—one of Vietnam’s largest banks, serving some 33 million customers with assets near $50 billion—will handle the regulatory and operational side.

This collaboration marks a major step in Vietnam’s push to regulate its rapidly growing crypto market, which currently involves over 20 million users and valuations in the hundreds of billions. It aligns with a pivotal legal milestone: the **Law on the Digital Technology Industry**, passed in July 2025 and set to take effect in 2026, which formally brings digital assets under regulatory oversight.

By combining Dunamu’s Upbit-proven infrastructure with MB Bank’s institutional credibility, the partnership aims to create a trusted, secure crypto trading environment tailored for both retail and institutional participants. This initiative also signals Vietnam’s ambition to build a digital financial architecture, positioning itself as a regional leader in the fintech space.