South Korean cryptocurrency exchange Bithumb announced on Wednesday that it has signed a memorandum of understanding (MOU) with SSI Digital (SSID), a subsidiary of Vietnam's largest securities firm by charter capital, SSI Securities Corporation, to cooperate on the development of a virtual asset exchange business in Vietnam.
The agreement was signed on March 2 at SSI's Hanoi branch office and outlines cooperation in the development and operation of a local cryptocurrency exchange and related financial services in Vietnam. The signing ceremony was attended by Lee Jae-won, chief executive officer of Bithumb, and Nguyen Khac Hai, CEO of SSID. Following the ceremony, Nguyen Duy Hung, chairman of SSI Securities, also joined discussions to strengthen the partnership between the two companies.
According to Bithumb, the MOU is aimed at establishing a strategic partnership for the launch and operation of a cryptocurrency exchange in Vietnam. The agreement also leaves open the possibility of a strategic equity investment by Bithumb in an SSID-designated entity, contingent on future regulatory approval for digital asset businesses in the country.
Under the partnership, the two firms plan to collaborate across a wide range of areas related to exchange development and operations, including technology architecture and platform development, wallet and custody systems, security and risk management, regulatory compliance support and knowledge transfer, business and product development, and institutional services.
Bithumb said it will leverage its years of exchange operation experience and security expertise to help build a stable trading infrastructure aligned with Vietnam's evolving regulatory environment. SSI Securities and SSID, meanwhile, are expected to contribute their deep understanding of the local financial market and extensive business network to accelerate the project.
Founded in December 1999, SSI Securities Corporation is one of Vietnam's leading securities companies, operating branch networks in major cities including Hanoi, Ho Chi Minh City, and Hai Phong. The company provides a broad range of financial services backed by strong financial capabilities, corporate governance, and professional expertise.
A Bithumb official said the partnership with SSI Securities and SSID demonstrates international recognition of Bithumb's operational capabilities and transparency in the digital asset sector.
“We will place top priority on full compliance with the regulatory framework set by Vietnamese financial authorities and work closely with our partners to establish a safe and reliable digital asset trading infrastructure,” the official said.
