Cryptocurrency exchange KuCoin has officially announced the signing of a memorandum of understanding with the Vietnam Blockchain and Digital Assets Association (VBA) and 1Matrix Joint Stock Company (1Matrix). This strategic partnership is set to be a key step in the development of blockchain infrastructure and digital assets in Vietnam, as well as supporting the country’s national Web3 strategy for 2025–2030.
This is reported by Finway
Strategic Collaboration for Digital Transformation
Under the signed agreement, the parties plan to launch pilot trading platforms, develop solutions for digital payments, electronic identification systems, and implement international-level risk management tools. KuCoin will be responsible for technology transfer and adherence to modern security standards. 1Matrix will focus on developing domestic infrastructure, while VBA will advocate for policy, industry standardization, and community engagement in the development of the blockchain ecosystem in Vietnam.
“Vietnam is becoming one of the most dynamic global hubs for blockchain and digital assets, thanks to a young, creative, and tech-savvy community ready for global innovation. Through our strategic partnership with VBA and 1Matrix, we aim to collaboratively advance blockchain technologies, strengthen community trust, promote education in digital assets, and support the startup ecosystem in Vietnam,” said KuCoin’s Vice President and Head of Commercial Division, Daymen Chen.
The head of VBA and 1Matrix, Phan Duc Chung, emphasized that the trilateral cooperation will contribute to the development of the digital asset market in Vietnam, its integration into the international space, and help create a transparent and sustainable financial digital ecosystem.
Investing in the Future of Blockchain in Vietnam
KuCoin highlighted its commitment to principles of transparency and security by implementing regular audits, reserve reports, and a real order book, as well as global KYC and AML standards. In the local market, the company invests in startups through KuCoin Labs and KuCoin Ventures, collaborates with Vietnamese universities, and develops tokenization and DeFi initiatives.
The VBA, established in 2022 by a decision of the Vietnamese Ministry of Public Security, is the first official platform in the country focused on researching, standardizing, and promoting blockchain solutions. 1Matrix, as a member of VBA, is developing the Vietnam Blockchain Multi-Chain Service Network (VBSN) — a platform for the rapid launch of layer-one blockchains that supports digital identity, data management, and the operation of public services.
The signing of the memorandum between KuCoin, VBA, and 1Matrix is expected to lay the foundation for a new model of blockchain industry development in Vietnam and strengthen the country’s position on the global technology map.
Previously, CryptoQuant experts reported that KuCoin had lost over 77% of its Bitcoin reserves; however, the company denied this information.