Bithumb Partners with SSID to Establish Licensed Crypto Exchange in Vietnam

Bithumb, one of South Korea's largest cryptocurrency exchanges, has partnered with SSID, the digital asset subsidiary of Vietnam's largest securities firm SSI Securities, to establish a licensed virtual asset exchange in the country. This move comes as Vietnam looks to formalize its crypto sector through the State Securities Commission's pilot program.

The partnership will see Bithumb and SSID cooperate on exchange operations, including technology architecture, wallet and custody systems, security and risk management, regulatory compliance, business development, and institutional services. The companies may also pursue an equity investment in an SSID-designated entity, subject to regulatory approval and Vietnam's foreign ownership limits.

This move highlights the growing interest of international exchanges in Vietnam's emerging market, with Bithumb prioritizing full compliance with Vietnamese regulations as it works to build a safe virtual asset trading infrastructure. With strict capital requirements and institutional investment guidelines in place, the partnership aims to capitalize on the new licensing regime, which is expected to attract significant foreign investment.