Bithumb, South Korea’s second-largest cryptocurrency exchange, has entered into a strategic partnership with SSI Digital (SSID), a subsidiary within the ecosystem of SSI Securities Corporation, to support the development and operation of a digital asset exchange in Vietnam.
Although the agreement was signed in Hanoi in early March, it was only officially announced by Bithumb on May 7.
Under the partnership, the two sides will cooperate in several key areas, including the development of exchange technology infrastructure, digital wallet and custody systems, cybersecurity and risk management, legal compliance, and the transfer of operational expertise and know-how. They also plan to jointly develop products and services targeting institutional clients.
Bithumb said it is also considering a strategic investment in an entity designated by SSID, subject to approval from Vietnamese regulators.
As part of the alliance, Bithumb will contribute its experience in operating cryptocurrency exchanges and its cybersecurity capabilities to help establish a secure and stable trading platform aligned with Vietnam’s regulatory framework.
Meanwhile, SSI and SSID are expected to leverage their understanding of the domestic market, established financial network, and relationships with local institutions to advance the project.
The partnership comes as Vietnam moves forward with plans to pilot a regulated digital asset market. Under Government Resolution No. 05/2025/NQ-CP, the pilot program will run for five years. Participating exchange operators must be locally incorporated entities with minimum charter capital of VND10 trillion (approximately $380 million), while foreign ownership must remain below 49%.
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