Dunamu, the operator of the virtual asset exchange Upbit, announced on the morning of August 12 that officials from the Vietnamese government and banking sector visited the Upbit Lounge in Yeoksam-dong, Seoul to inspect the virtual asset exchange system.
The delegation included Defense Minister Phan Van Giang, Finance Minister Nguyen Van Thang, Securities Commission Chairwoman Vu Thi Chan Phuong, and Military Bank (MB Bank) Chairman Luu Trung Thai. Military Bank, which is affiliated with the Vietnamese Ministry of Defense, is planning to establish a virtual asset exchange in Vietnam in cooperation with Dunamu.
Dunamu provided an overview of Upbit’s transaction matching, wallet, and security systems, and presented its self-regulatory system and operational expertise, which were developed during the process of establishing laws and regulations related to virtual assets.
Kim Hyungnyeon, Vice Chairman of Dunamu, stated, "We will provide Upbit’s outstanding technology and operational know-how so that Vietnam, with its high growth potential, can take the lead in the digital finance sector." Oh Kyungseok, CEO of Dunamu, added, "We will actively support Vietnam in building an exchange model optimized for a regulated market."
Minister Phan Van Giang said, "By seeing Upbit’s system firsthand, I have gained confidence. Many Korean companies have already entered Vietnam, and I am confident that we will achieve success in the financial sector as well."
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