In a significant move for Vietnam’s burgeoning digital economy, KuCoin, one of the world’s leading cryptocurrency exchanges, has entered into a strategic collaboration through a Memorandum of Understanding (MoU) with the Vietnam Blockchain and Digital Assets Association (VBA) and 1Matrix Joint Stock Company. This partnership aims to enhance the blockchain infrastructure and digital asset applications in Vietnam, positioning KuCoin as a key player in the local cryptocurrency landscape.
The collaboration incorporates advanced strategies aimed at driving innovation and adoption of digital financial systems in Vietnam. Initiatives will include the development of pilot trading platforms, digital payment solutions, electronic identity systems, and internationally recognized risk management tools. By integrating KuCoin’s technological advancements with 1Matrix’s local insights and VBA’s advocacy for policy and standards, this partnership is set to align with Vietnam’s National Blockchain Strategy for the years 2025 to 2030.
KuCoin’s commitment to transferring cutting-edge technology and best practices is central to the alliance. 1Matrix will manage the local infrastructure while VBA aims to facilitate policy advocacy and community outreach. This cooperative model is expected to promote a transparent and sustainable digital financial ecosystem, allowing Vietnamese startups better access to global markets and encouraging economic inclusivity.
Damen Chen, KuCoin’s Vice President and Head of Group Commercial, expressed enthusiasm about Vietnam’s potential, describing it as a vibrant hub for blockchain innovation driven by a youthful, tech-savvy populace. He emphasized the importance of co-developing blockchain technology to strengthen community trust, enhance digital asset education, and cultivate the local blockchain startup scene.
The partnership also underscores KuCoin’s dedication to security, transparency, and regulatory compliance. KuCoin has been a pioneer in implementing Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, and is actively involved in regulatory dialogues and policy development in Vietnam. The company’s initiatives extend beyond mere trading; through KuCoin Labs and KuCoin Ventures, it invests in early-stage blockchain projects and collaborates with educational institutions to foster talent in the field.
Mr. Phan Duc Trung, Chairman of VBA and 1Matrix, expressed optimism about the strategic collaboration, highlighting its potential to enhance Vietnam’s digital asset market and promote international integration. Established in April 2022, VBA is the first official social-professional blockchain organization in Vietnam, bringing together stakeholders to evaluate and promote blockchain applications nationwide.
1Matrix, a crucial entity in the partnership, is recognized for its development of the Vietnam Blockchain Multi-Chain Service Network (VBSN), a platform enabling the swift deployment of Layer-1 blockchains. This infrastructure supports essential public applications and advances data governance, further solidifying Vietnam’s role in the global technology landscape.
Through this landmark agreement, KuCoin, VBA, and 1Matrix aim to establish a pioneering model within Vietnam’s blockchain sector that accelerates the National Blockchain Strategy and elevates the country on the global technology map.
