Bithumb, a major virtual asset exchange in South Korea, and SSID, a subsidiary of Vietnam’s stock broker SSI Securities, will jointly launch and operate on a virtual asset exchange business in Vietnam.

In a statement on Thursday, Bithumb said the two sides signed a memorandum of understanding (MOU) to establish a strategic partnership for the move, featuring Bithumb CEO Lee Jae-won and SSID CEO Nguyen Khac Hai.

According to Bithumb, the agreement also includes the possibility of a strategic equity investment by Bithumb in an SSID-designated entity, subject to future regulatory approval for virtual assets in Vietnam.

The two companies said they plan to cooperate in areas including technology architecture and development, wallet and custody systems, security and risk management, regulatory support and knowledge transfer, business and product development, and institutional business operations.

Bithumb said it will support the development of a trading infrastructure aligned with Vietnam’s regulatory environment using its experience in exchange operations and security technology. SSI Securities and SSID will contribute local market knowledge and business networks.

In September 2025, the Vietnamese government issued a resolution on piloting cryptocurrency exchanges in Vietnam for five years. So far, about ten businesses have expressed their interests to join the program. Many banks and securities companies have established businesses for the pilot.

According to the United States-based blockchain analytics firm Chainalysis, the value of cryptocurrency transactions in Vietnam is estimated at $220-230 billion from July 2024 to June 2025, averaging more than $600 million per day. This figure places Vietnam among the three largest cryptocurrency markets in the Asia-Pacific region.

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