MB Bank is supported to set up a cryptocurrency exchange

DNVN - Dunamu Group, the operator of Upbit exchange, will support the Military Bank (MB) to establish a cryptocurrency exchange in Vietnam, and participate in building laws, systems and mechanisms to protect investors related to digital assets.

Cooperation signing ceremony between Dunamu and MB

On August 12, the Military Bank (MB) signed a Memorandum of Understanding (MOU) for technical cooperation with Dunamu, a corporation from South Korea. In addition to supporting the establishment of a cryptocurrency exchange, Dunamu will also transfer Upbit technology to MB, providing comprehensive experience in operating a cryptocurrency exchange.

Sharing about this cooperation, Mr. Luu Trung Thai, Chairman of MB, said that this bank will work together with Dunamu to promote Vietnam's digital financial market.

According to the draft Resolution on the digital asset market to be submitted to the Government , the company operating the exchange must have a minimum capital of VND10,000 billion. Of which, 35% of the capital must be held by at least two organizations: banks, securities companies, fund management companies, insurance companies or technology enterprises. The remaining 65% is owned by organizations, not individuals.

Dunamu Group is the operator of Upbit, the world's third-largest centralized crypto asset exchange. The exchange currently holds about 80% of the market share in South Korea, has 6 million customers, and a trading volume of over $1.1 trillion in 2024.

MB is currently the fifth largest bank in Vietnam with total assets of VND1.29 trillion, as of the end of the second quarter of this year. In the first 6 months of the year, the bank earned VND15,889 billion in pre-tax profit, an increase of 18% over the same period last year.

Nguyen An

Source: https://doanhnghiepvn.vn/doanh-nhan/ngan-hang-mb-duoc-ho-tro-lap-san-giao-dich-tien-ma-hoa/20250814025610944