Upbit Vietnam debuts as country’s first licensed crypto exchange

The Upbit Vietnam launch marks a milestone as the country’s first regulated crypto exchange, backed by South Korea’s Dunamu and Vietnam’s MB Bank to deliver a locally compliant trading platform.

This collaboration, formalized via an MoU signed Tuesday in Hanoi, comes in the wake of Vietnam’s recent legalization of cryptocurrencies under its new digital technology law, positioning the country for institutional adoption and investor confidence.

A strategic move made possible by new regulations

On June 17, Vietnam enacted the Law on Digital Technology Industry, establishing formal definitions and regulatory frameworks for digital assets—finally shedding years of uncertainty.

The law also aims to address international concerns: Vietnam had been on the Financial Action Task Force’s “grey list” over insufficient anti-money-laundering controls for crypto, and the new legislation is intended to rectify that shortfall and bolster legitimacy. The Upbit Vietnam launch is the first major corporate initiative under this regulatory umbrella.

Dunamu and MB Bank forge paths in digital finance

Under the agreement, Dunamu will import its Upbit model and technical infrastructure while advising MB Bank on regulatory compliance, investor protection, and talent development.

“MB and Upbit will work together as trusted partners to advance Vietnam’s digital finance market,” — Luu Trung Thai, Chair, MB Bank.

The coupling of a regional banking powerhouse with a veteran exchange platform underscores the calculated, structured approach to launching the Upbit Vietnam launch. Leaders from both Vietnam and South Korea were present in Hanoi to mark the occasion, highlighting diplomatic as well as commercial significance.

Market potential meets Upbit’s established platform

Dunamu’s leadership sees major upside in the Vietnamese market. At a July meeting with Vietnamese Prime Minister Pham Minh Chinh, Dunamu Vice Chair and co-founder Kim Hyoung-nyon reaffirmed the company’s commitment to advancing Vietnam’s digital economy.

CEO Oh Kyoung-suk emphasized that the country—and its Upbit Vietnam launch—holds extraordinary promise: over 20 million crypto holders, an $800 billion trading volume, and a top-five global ranking in last year’s crypto adoption index, per Chainalysis data.

“When this growth potential meets the Upbit model, it will be a chance to build not just an exchange but Vietnam’s entire digital financial infrastructure on a foundation of trust,” — Oh Kyoung-suk, CEO, Dunamu.

Profit momentum empowers expansion

Dunamu enters the Upbit Vietnam launch well-capitalized. The company reported an 85.1 percent year-on-year jump in operating profit and a nearly three-fold increase in cash dividends to common shareholders—nearly 300 billion won (about US $204.5 million) allocated in March alone as part of its retained earnings distribution plan. This robust financial performance gives Dunamu the resources to support a major regional expansion confidently.

Why the Upbit Vietnam launch matters for crypto investors

The Upbit Vietnam launch is more than a commercial milestone; it’s a signal to global investors that Vietnam is serious about digital assets.

With regulatory clarity, institutional support, and a tech-driven model, the exchange is positioned to capture high demand in one of the most crypto-active markets worldwide.

Its success could influence market sentiment and investment flows across Southeast Asia, making it a development that crypto investors will be watching closely.