Bithumb is setting its sights on new horizons, joining forces with SSI Digital Technology Joint Stock Company (SSID), a subsidiary of SSI Securities, which is Vietnam’s largest securities company by capital scale, to grow its international presence.
According to the announcement, both companies signed a comprehensive Memorandum of Understanding (MOU), focused on establishing and operating a virtual asset exchange business in Vietnam. The MOU was signed on March 2, 2026 at SSI’s Hanoi branch, though Bithumb only made the partnership public on May 7, 2026. The agreement was signed by Bithumb CEO Lee Jae-won and SSID CEO Nguyen Khac Hai.
Focus on a regulatory-compliant exchange
The partnership aims to develop a cryptocurrency trading platform that aligns with Vietnam’s evolving regulatory environment. That environment is now formally defined: under Government Resolution 05/2025/NQ-CP issued on September 9, 2025, Vietnam approved a five-year pilot program for crypto assets, and the Ministry of Finance began accepting license applications on January 20, 2026 under Decision 96/QD-BTC. Only up to five exchanges will be licensed in the pilot phase.
Under the agreement, both firms will cooperate across multiple areas, including exchange infrastructure and technology development; wallet and custody systems; security and risk management; regulatory support and compliance; and institutional services and product development.
Bithumb stated that it will leverage its years of operational experience and security expertise to help build a stable and compliant trading ecosystem in Vietnam.
Potential strategic investment
The agreement also leaves room for deeper collaboration in the future.
Bithumb may explore a strategic equity investment in an SSID-designated entity, depending on future regulatory approvals related to virtual assets in Vietnam. This conditional language matters: SSID itself had charter capital of just VND 200 (~$8 million) as of Q2 2025; far below the VND 10 trillion required for a pilot license. Any operating exchange entity would likely need to be a newly capitalized vehicle, with Bithumb’s potential equity stake helping bridge the capital gap.
This signals a longer-term commitment toward expanding its presence in Southeast Asia’s growing digital asset market.
Vietnam as a crypto growth market
Vietnam has increasingly become one of Asia’s most active crypto markets, with growing interest in digital assets and blockchain-based financial services. The country ranks in the top five globally for blockchain adoption, according to Chainalysis.
SSID and SSI Securities are expected to contribute local market expertise and financial infrastructure, while Bithumb provides exchange technology and operational know-how.
A Bithumb official stated:“Cooperation with SSI Securities and SSID, traditional local financial institutions, is a result of the international recognition of Bithumb’s exchange operational capabilities and transparency.”
The official added that compliance with Vietnam’s financial regulations will remain a top priority throughout the partnership.
Global crypto expansion trend
The partnership reflects a broader trend of crypto exchanges expanding internationally through collaborations with traditional financial institutions.
As regulatory clarity improves across Asia, exchanges are increasingly focusing on localized, compliant infrastructure to enter emerging digital asset markets.
With Vietnam rolling out its formal pilot framework and institutional interest rising, the Bithumb-SSID partnership could position both firms as a strong contender in the country’s evolving virtual asset ecosystem.
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