What to know:
- Bithumb partners with Vietnam’s SSI Digital to launch a regulated crypto exchange platform.
- Bithumb Crypto Partnership covers wallets, custody, compliance, security, and risk management systems.
- Vietnam ranks fourth globally in crypto adoption, attracting major blockchain and exchange investments.
Bithumb Crypto Partnership moves to Vietnam following a newly established partnership between South Korea-based crypto trading platform Bithumb and SSID (SSI Digital), a blockchain and artificial intelligence division of the largest securities firm in Vietnam, SSI. The collaboration is expected to help establish a digital asset exchange in Vietnam as the demand for crypto services increases in the region.
The memorandum of understanding (MOU), which was signed in March but only made official this week, will see both companies working together to construct and manage an exchange platform for cryptocurrencies in Vietnam.
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Bithumb Crypto Partnership Focuses on Exchange Development
There will be a number of key aspects that will be covered by the Bithumb Crypto Partnership, including wallets, custody solutions, compliance processes, security systems, risk management, and product development.
As per the press release, Bithumb may even go for a strategic investment in the future exchange platform if it receives approval from the local regulators.
Bithumb’s official representative stated that the company will strictly adhere to the financial laws of Vietnam while collaborating with SSID to create a safe environment for trading virtual assets.
Vietnam is still drawing many cryptocurrency companies because of its high adoption rate and emerging blockchain industry. Digital currencies have already been used by millions of people in Vietnam for transactions, savings, money transfer, and gaming.
Vietnam was named the fourth most adopted country on the Global Crypto Adoption Index in 2025 by the blockchain analysis firm Chainalysis. This was preceded by India, the US, and Pakistan.
The new Bithumb Crypto Partnership is part of many efforts by other South Korean exchanges to get into the Vietnamese market. In 2019, for example, Upbit’s parent company, Dunamu, partnered with the Military Bank of Vietnam to help establish a cryptocurrency exchange that utilizes Korean technology and security systems.
Bithumb Continues Expansion Despite Internal Challenges
While the Bithumb Crypto Partnership represents yet another effort at international expansion, Bithumb has also experienced problems within South Korea, having postponed its plan for an initial public offering until 2028, despite earlier plans to list in 2025.
The firm also received negative attention from the public early this year following the distribution of 620,000 BTC to the users’ accounts by one of its employees due to an operational mistake.
Even with all these challenges, the Bithumb Crypto Partnership reveals that the exchange is still interested in growing its footprint in Asia’s emerging crypto market.
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