Global cryptocurrency exchange, KuCoin has signed a strategic Memorandum of Understanding (MoU) with the Vietnam Blockchain and Digital Assets Association (VBA) and 1Matrix Joint Stock Company (1Matrix). In a blog post released on Wednesday, the exchange said the collaboration will focus on the local development of blockchain innovations in Vietnam.
According to the statement, the initiative will directly support the Asian country’s National Blockchain Strategy, which will run between 2025 and 2030. Initially, Vietnam’s blockchain strategy is a key project designed to enhance the country’s contribution to virtual innovation.
With the MoU, KuCoin aims to empower local developers through its infrastructure, maintain good standards within the growing market, and introduce cutting-edge security measures. Additionally, VA, as one of the partners, will take charge of policy advocacy and community outreach.
The partners through the announcement pledge to introduce key projects that center on trading, digital payment solutions, virtual identity infrastructures, and industry-standard risk management tools. By that, the cryptocurrency trading platform is confident of improved transparency and a sustainable digital financial economy that promises emerging local projects more exposure to the international market.
Thanks to this move, the Vietnamese digital assets hub is on the verge of witnessing more growth and economic inclusion.
As per KuCoin, the collaboration is a key step in its commitment to introducing innovation in emerging hubs to foster the advancement of blockchain projects and other digital asset solutions. While Vietnam’s crypto market is currently in a growing stage, the partnership positions KuCoin as an industry leader.
Side Note
The partnership with VBA and 1Matrix surfaced shortly after KuCoin joined forces with the Thai government on its historic G-Token project. KuCoin also made history by becoming the first cryptocurrency exchange to list the first on-chain public sovereign fund.
As a result of the growing popularity of virtual assets and blockchain innovation, Vietnam has continued to explore the industry with a focus on harnessing its offerings. Recall that in early December 2024, local reports established that Vietnam introduced the National Blockchain Strategy to establish a regulatory framework for the digital assets sector.
In October 2024, a local Vietnamese enforcement group clamped down on a crypto crime syndicate belonging to foreigners. Binbits reported that during the operation, the operatives arrested 5 individuals belonging to the group.
As revealed, the scammers have made more than $7.5 million from relationships and investment scams.
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