KuCoin Partners with VBA and 1Matrix to Enhance Blockchain in Vietnam

KuCoin Partners with VBA and 1Matrix to Enhance Blockchain Infrastructure in Vietnam

KuCoin, recognized globally as a prominent cryptocurrency exchange, has entered into a strategic Memorandum of Understanding (MoU) with the Vietnam Blockchain and Digital Assets Association (VBA) and 1Matrix Joint Stock Company (1Matrix). This collaboration aims to foster innovation and accelerate the adoption of blockchain technology and digital assets within Vietnam, a significant milestone for the country’s digital economy.

The Significance of the Partnership

With over 41 million users across 200 regions, KuCoin’s expertise is poised to bring crucial advancements to Vietnam's crypto ecosystem. This partnership not only aims to develop local blockchain infrastructure but also introduces various actionable innovations such as trading platforms, digital payment solutions, and electronic identity systems. Highlighting the commitment to support Vietnam's vision as articulated in its National Blockchain Strategy (2025–2030), KuCoin’s collaboration with local entities ensures a tailored approach to blockchain development.

Management and Operational Dynamics

Under this MoU, KuCoin will facilitate the transfer and implementation of advanced technologies and best practices. This includes leading efforts that empower local startups while ensuring adherence to top security standards. The responsibility of domestic infrastructure and resource management falls to 1Matrix, while VBA will play a pivotal role in advocacy, standardization, and community outreach. This well-structured tripartite model provides a foundation for a transparent and sustainable digital financial ecosystem in Vietnam.

Damen Chen, Vice President and Head of Group Commercial at KuCoin, expressed enthusiasm regarding the collaboration, stating, "Vietnam stands out as a dynamic hub for blockchain and digital assets, with a young, tech-savvy population ready for innovation. This partnership positions us to co-develop blockchain technology while building community trust and advancing digital asset education. We aim to create a secure and competitive market for Vietnam on the global stage."

Focus on Security and Compliance

KuCoin’s commitment to maintaining high security and transparency standards is central to its strategy. During his participation in Da Nang Finance and Tech Week, Chen underscored the importance of real-time data transparency and regular proof-of-reserves to enhance accountability within the trading ecosystem. KuCoin is noted for being a frontrunner in implementing KYC (Know Your Customer) and AML (Anti-Money Laundering) standards globally, actively participating in regulatory frameworks and community engagement.

In Vietnam, KuCoin Labs and KuCoin Ventures plan to invest in early-stage projects and collaborate with educational institutions to nurture talent and spur adoption in fields such as tokenization and decentralized finance (DeFi). This proactive approach not only boosts the local talent pool but also drives the innovation necessary for Vietnam to thrive in the blockchain industry.

Support from VBA and 1Matrix

Phan Duc Trung, Chairman of VBA and 1Matrix, has lauded the cooperative endeavor, emphasizing its potential to enhance Vietnam’s digital asset market and enable international integration. VBA is Vietnam's first official social-professional organization, established to promote blockchain applications and gather stakeholders for collaborative innovations. Its formation underscores the nation's commitment to improving its competitiveness within the global digital economy.

Moreover, 1Matrix is pioneering the development of the Vietnam Blockchain Multi-Chain Service Network (VBSN), a critical infrastructure offering that supports the rapid deployment of blockchain solutions tailored to various public services. The initiative aims to enhance data governance and digital identity management, further establishing Vietnam as a notable player on the global technology landscape.

Looking Ahead

As this agreement unfolds, the potential for establishing a pioneering model for blockchain sectors in Vietnam becomes increasingly evident. KuCoin’s collaboration with VBA and 1Matrix is not just a business partnership but a strategic alignment that aims to propel Vietnam into the next phase of its digital transformation journey. With a clear focus on innovation, security, and community development, this initiative promises to set a new benchmark for blockchain advancements within the region, paving the way for sustained economic growth and technological leadership.

This strategic partnership exemplifies KuCoin’s dedication to security, transparency, and compliance, reinforcing its reputation as a trusted entity in the crypto space. As Vietnam continues to expand its digital horizons, the collaboration between these leading organizations could very well be the catalyst needed to solidify the nation's position within the global blockchain ecosystem.