Bithumb, South Korea’s second-largest cryptocurrency exchange, has signed an agreement with SSID, a unit of Vietnam’s biggest securities company, SSI Securities. The announcement was made by the company on Thursday.
The agreement was signed on March 2 at SSI’s branch office in Hanoi. The signing ceremony was attended by Bithumb CEO Lee Jae-won, SSID CEO Nguyen Khac Hai, and SSI Securities Chairman Nguyen Duy Hung.
Under the partnership, the two companies will work together to build a virtual asset exchange in Vietnam. They plan to cooperate on technology systems, digital wallets, custody services, security, risk management, and regulatory compliance.
The partnership will also focus on sharing industry knowledge, developing new products and services and offering solutions for institutional clients. Bithumb is also considering investing in SSID’s planned entity, depending on approval from Vietnamese regulators.
Bithumb will use its experience in running cryptocurrency exchanges and its cybersecurity technology to help create a safe and reliable trading platform that follows Vietnam’s regulations. SSI and SSID will support the project with their strong understanding of the local market and their wide financial network in Vietnam.
The agreement is part of Bithumb’s efforts to expand its business in Southeast Asia, where many countries are starting to create clear rules for cryptocurrency businesses.
Vietnam is also working on new laws for digital assets, and the government is expected to introduce licensing rules for crypto-related companies in the next few years.
“This partnership reflects international recognition of Bithumb’s operational capabilities and transparency,” a Bithumb spokesperson said. “We will prioritize full compliance with Vietnamese regulations as we work to build a safe virtual asset trading infrastructure.”
SSI Securities was founded in December 1999 and has offices in Hanoi, Ho Chi Minh City, and Haiphong. The company provides a wide range of financial services and is known for its strong financial position, good management practices, and experienced team.
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