Bybit Signs MOU with Da Nang to Boost Vietnam’s Digital Asset Ecosystem

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the signing of a Memorandum of Understanding (MOU) with the People’s Committee of Da Nang City, the Abu Dhabi Blockchain Center (ADBC), and Verichains Network Security Company Limited. This agreement, detailed here, marks a significant step in advancing Vietnam’s digital asset landscape.

Da Nang, a major economic hub in Vietnam, has been approved to deploy a blockchain sandbox. This makes it an ideal location for piloting progressive policies and attracting international partnerships in digital assets and blockchain technology. Under the MOU, the partners aim to support Da Nang’s vision of establishing an International Financial Center (IFC) through three core pillars: digital asset liquidity, ecosystem connectivity, and infrastructure security.

Strategic Collaboration to Enhance Financial Connectivity

The partnership is designed to translate national strategies into local implementation, ensuring that the IFC model is both policy-flexible and risk-controlled. This approach aims to minimize exposure to threats targeting digital asset ecosystems. Da Nang will facilitate administrative procedures for the partners to invest, open offices, and integrate into the IFC. In return, Bybit and its partners will provide policy consultation on digital assets and blockchain technology, share international best practices, and support the development of a modern regulatory framework.

Helen Liu, Co-CEO of Bybit, highlighted Vietnam’s role in digital transformation, stating, “Vietnam is an inspiring example of a nation embracing digital transformation, and we are honored to contribute to its journey.” Liu emphasized Bybit’s commitment to sharing global expertise in blockchain and digital asset innovation to support Da Nang’s vision of becoming an International Financial Center.

Building on Previous Engagements

This collaboration builds on Bybit’s earlier engagement in Vietnam. In April 2025, Bybit Co-Founder and CEO Ben Zhou met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express support for Vietnam’s regulatory sandbox initiative. Discussions focused on launching a pilot sandbox mechanism to test the issuance and trading of crypto assets in a controlled environment, with safeguards like Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols.

The MOU represents a continuation of these efforts, reaffirming Bybit’s role as a long-term partner in Vietnam’s digital transformation journey.

Why This Matters: Impact, Industry Trends & Expert Insights

Bybit’s signing of a Memorandum of Understanding with Da Nang City aims to enhance Vietnam’s digital asset ecosystem by leveraging blockchain technology and international partnerships. This initiative supports Da Nang’s ambition to become an International Financial Center.

Recent industry reports indicate Vietnam’s blockchain adoption is rapidly expanding, with projections showing a market growth to $8.45 billion by 2025. This aligns with the news event, as the MOU with Bybit aims to further integrate blockchain solutions into Vietnam’s financial infrastructure.

A recent report highlights Vietnam’s strategic move to establish a regulated digital asset ecosystem through a pilot program. This supports the significance of Bybit’s collaboration in positioning Vietnam as a hub for digital asset innovation and regulatory development.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.