Vietnam’s Military Bank to launch crypto exchange with Upbit

It could become the first licensed platform under the new regulatory regime

Vietnam’s state-owned Military Bank to launch crypto exchange with Upbit

14.08.2025 - 14:45

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2 min

What’s new? Vietnam’s state-owned Military Bank (MB) plans to launch a regulated cryptocurrency exchange in partnership with Dunamu, the parent company of South Korea’s leading crypto exchange Upbit.

Press release

What else is known?

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

Military Bank is a financial institution under the Vietnamese Ministry of National Defense.

Earlier, Deputy Minister of Finance Nguyen Duc Chi announced a pilot program for an international financial center for local fintech companies, including crypto exchanges. The Deputy Governor of the State Bank of Vietnam (SBV) announced the creation of a legal framework for digital assets, including tokenized real-world assets (RWA).

Vietnam has passed a law to legalize digital assets

AML laws now apply to cryptocurrencies

The Military Bank and Dunamu platform will not be Vietnam’s first domestic cryptocurrency exchange. Currently, BitcoinVN operates in the country, an instant exchange without registration that supports Bitcoin, Ethereum, and USDT.

In turn, Nami.Exchange offers spot and futures trading in cryptocurrencies as part of Nami Technology JSC, a company registered in Vietnam.

However, given that Vietnam’s pilot regulatory regime is likely to lead to licensing requirements in the future, Military Bank’s exchange could become the first regulated exchange under the new system.

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