Bybit Collaborates with Da Nang to Foster Vietnam's Digital Asset Development

In a significant step towards nurturing the digital asset landscape in Vietnam, leading cryptocurrency exchange Bybit has announced the signing of a Memorandum of Understanding (MOU) with the People's Committee of Da Nang City, along with the Abu Dhabi Blockchain Center (ADBC) and Verichains Network Security Company Limited. This agreement reinforces Bybit's dedication to advancing Vietnam's digital asset ecosystem while fostering long-term collaboration to position Da Nang as a prominent international finance and innovation hub.

Da Nang, recognized as one of Vietnam's largest cities, is already a bustling economic center. It has recently gained approval to introduce a blockchain sandbox, making it an ideal location for testing forward-thinking policies and cultivating global partnerships focused on blockchain technology and digital assets. The MOU outlines a mutual commitment that aims to support Da Nang's ambition to establish an International Financial Center (IFC) through three foundational pillars:

1. Digital Asset Liquidity: This encompasses connecting Da Nang with global financial markets to ensure a smooth flow of digital assets.
2. Ecosystem Connectivity: The goal here is to link Vietnam with leading international finance hubs, enhancing the city’s global financial footprint.
3. Infrastructure Security: To create a safe and risk-managed environment conducive to innovative blockchain applications.

The cooperation established by the MOU is crucial for transforming national strategies into local implementations, ensuring that the IFC model is adaptable and secure while mitigating risks to the digital asset ecosystem. As part of this partnership, Da Nang will streamline administrative processes to facilitate investments, office openings, and integration into the IFC, while Bybit and its partners will provide guidance on digital asset policies, share global best practices, and aid in designing a modern regulatory framework for the city.

Helen Liu, Co-CEO of Bybit, highlighted the importance of this partnership: "Vietnam serves as a remarkable model for a nation committed to digital transformation. We are pleased to contribute to this journey. Bybit will share its extensive expertise in blockchain and digital asset innovation to help realize Da Nang's vision of becoming an International Financial Center. This partnership illustrates our commitment to building sustainable ecosystems in collaboration with governments, institutions, and reliable partners."

This collaboration is a continuation of Bybit's earlier engagements in Vietnam. In April 2025, Bybit Co-Founder and CEO Ben Zhou met with Vietnam's Minister of Finance, H.E. Nguyen Van Thang, at the Ministry of Finance headquarters in Hanoi. During their discussions, they emphasized Bybit's robust support for Vietnam's innovative regulatory sandbox initiatives aimed at developing a secure, transparent, and innovation-friendly digital asset ecosystem. The conversation revolved around the government’s efforts to implement a pilot sandbox to test the issuance and trading of crypto assets in a controlled environment, incorporating stringent safeguards such as Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols to ensure investor protection and financial security.

Today's signing of the MOU signifies an important milestone in Bybit's ongoing commitment to Vietnam's digital transformation, further cementing its role as a proactive partner in cultivating a dynamic digital landscape necessary for the modern economy.

About Bybit

Founded in 2018, Bybit is the world's second-largest cryptocurrency exchange by trading volume, catering to a community of over 70 million users worldwide. Bybit strives to redefine transparency in the decentralized sphere, creating a user-friendly and inclusive ecosystem. By focusing on Web3 technologies, the company collaborates with leading blockchain protocols, offering resilient infrastructure and promoting on-chain innovations. With an emphasis on secure custody solutions, diverse trading markets, and user-friendly blockchain tools, Bybit acts as a bridge connecting traditional finance with decentralized finance, empowering creators and innovators alike to tap into the vast potential of Web3.

For more information, visit Bybit.