Bithumb Partners with Vietnam's Largest Securities Firm for Exchange Business Collaboration

Establishing Local Exchange and Building Strategic Partnerships in Vietnam

Bithumb has established a foothold for entering the Vietnamese virtual asset market through a partnership with Vietnam's largest securities company.

On May 7, Bithumb announced that it has signed a comprehensive memorandum of understanding (MOU) with SSID, a subsidiary of the Vietnamese securities firm SSI Securities Corporation, to jointly pursue a local virtual asset exchange business.

On March 2, Bithumb and SSID signed an MOU at the Hanoi branch of SSI in Vietnam, focusing on "cooperation in the development and operation of the local exchange business and related financial services." The signing ceremony was attended by Lee Jaewon, CEO of Bithumb, and Nguyen Khac Hai, CEO of SSID.

Jaewon Lee, CEO of Bithumb (left), and Quoc Hai Nguyen, CEO of SSID, are posing for a commemorative photo after signing the MOU. Bithumb

The purpose of this MOU is to establish a strategic partnership for the creation and operation of an exchange in Vietnam. It also leaves open the possibility for Bithumb to make a strategic equity investment in an SSID-designated corporation, contingent upon the approval of virtual asset regulations in Vietnam. Going forward, the two companies plan to collaborate across all aspects of exchange establishment and operation, including technology architecture and development, wallet and custody systems, security and risk management, regulatory support and knowledge transfer, business and product development, and institutional business.

SSI Securities Corporation, established in December 1999, is a Vietnamese securities firm with a branch network in major cities such as Hanoi, Ho Chi Minh City, and Haiphong.

A Bithumb official stated, "Our cooperation with traditional local financial institutions such as SSI Securities Corporation and SSID demonstrates that Bithumb's capabilities in exchange operation and transparency are recognized internationally," adding, "We will prioritize strict compliance with the regulatory environment set by Vietnamese financial authorities and work together to establish a safe virtual asset trading infrastructure."

This content was produced with the assistance of AI translation services.