Why is Bithumb expanding into Vietnam?

Bithumb is trying to enter Vietnam’s upcoming regulated crypto exchange market through a partnership with SSI Digital. The move gives the South Korean exchange exposure to one of Southeast Asia’s fastest-growing crypto adoption markets.

What agreement did Bithumb sign in Vietnam?

Bithumb signed a memorandum of understanding with SSI Digital, a subsidiary of SSI Securities. The partnership focuses on developing and operating a regulated virtual asset exchange in Vietnam.

What is Vietnam’s crypto exchange pilot programme?

Vietnam introduced a five-year pilot framework to regulate domestic crypto trading platforms. The programme sets strict licensing requirements for exchanges operating legally in the country.

What are Vietnam’s requirements for licensed crypto exchanges?

Exchange operators must be locally incorporated Vietnamese entities with at least 10 trillion dong, or roughly $380 million, in charter capital. Foreign ownership is also capped at 49%.

Why is Vietnam becoming important for crypto companies?

Vietnam ranked fourth globally for crypto adoption in 2025 according to Chainalysis. The country has a large retail crypto user base and growing interest in blockchain and digital asset services.

Who else is competing for Vietnam’s crypto licences?

Several major financial and corporate groups are reportedly pursuing licences, including affiliates linked to Techcombank, VPBank, LPBank, VIX Securities and Sun Group.

Why are crypto exchange licences becoming more competitive in Vietnam?

Vietnam is preparing to restrict unlicensed overseas crypto trading platforms while opening a limited regulated market. This has increased competition among companies seeking early approval under the pilot framework.

Bithumb targets Vietnam crypto exchange licence

Q: What services will Bithumb and SSI Digital develop together?

The companies said they will cooperate on exchange infrastructure, wallets, custody systems, cybersecurity, regulatory compliance and institutional crypto services. The partnership may also include future equity investment opportunities.

Written by Mahathir BayenaPublished May. 7 2026

South Korean cryptocurrency exchange Bithumb has partnered with SSI Digital to pursue opportunities within Vietnam’s upcoming regulated digital asset exchange framework.

Bithumb signed a memorandum of understanding with SSI Digital, a subsidiary of Vietnamese brokerage firm SSI Securities, to cooperate on developing and operating a virtual asset exchange in Vietnam.

The agreement also allows for the possibility of a future strategic equity investment by Bithumb in an SSI Digital-related entity pending Vietnamese regulatory approval.

The partnership positions Bithumb for Vietnam’s pilot programme for licensed domestic cryptocurrency exchanges as the country prepares to formally regulate digital asset trading platforms.

Vietnam’s proposed five-year crypto pilot programme requires exchange operators to be locally incorporated entities with at least 10 trillion Vietnamese dong, or roughly $380 million, in charter capital while limiting foreign ownership to 49%.

Authorities are also considering restrictions on unlicensed overseas crypto platforms as competition intensifies among firms seeking approval under the new framework.

Several major financial groups, including affiliates of Techcombank, VPBank and LPBank, alongside broker VIX Securities and conglomerate Sun Group, have reportedly already passed initial qualification stages.

Bithumb and SSI Digital said they plan to collaborate across exchange infrastructure, wallet systems, custody services, cybersecurity, regulatory compliance and institutional digital asset services.

Vietnam ranked as the world’s fourth-largest crypto adoption market in 2025 according to blockchain analytics firm Chainalysis, making it one of Southeast Asia’s fastest-growing digital asset markets.

The overseas expansion effort comes as Bithumb faces increased scrutiny in South Korea following a major payout error earlier this year and the delay of its planned initial public offering until after 2028.