Bithumb enters Vietnam crypto license race with SSI Digital deal

Bithumb’s tie-up with SSI Digital positions it for Vietnam’s strict crypto exchange pilot as competition for scarce licenses heats up and scrutiny mounts at home.

South Korean crypto exchange Bithumb is expanding its overseas push through a new partnership in Vietnam as the country moves toward licensing its first domestic digital asset trading platforms.

Bithumb said it signed a memorandum of understanding (MoU) with SSI Digital (SSID), a subsidiary of Vietnam’s largest securities company, SSI Securities, to cooperate on establishing and operating a virtual asset exchange in the country.

The agreement, signed in Hanoi in March but announced Thursday, also leaves the door open for Bithumb to make a strategic equity investment in an SSID-designated entity, subject to Vietnam’s regulatory approvals.

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