KuCoin, one of the world's largest cryptocurrency exchanges with over 41 million users across 200 regions, has signed a strategic Memorandum of Understanding (MoU) with the Vietnam Blockchain and Digital Assets Association (VBA) and 1Matrix Joint Stock Company. This tripartite alliance aims to strengthen blockchain infrastructure, promote digital asset adoption, and support Vietnam's National Blockchain Strategy for 2025–2030.
The partnership establishes a clear division of responsibilities: KuCoin will lead technology transfer and bring international expertise, 1Matrix will manage local infrastructure including the Vietnam Blockchain Multi-Chain Service Network (VBSN), and VBA will focus on policy advocacy, regulatory engagement, and community outreach. Together, they plan to create pilot trading platforms, digital payment solutions, electronic identity systems, and advanced risk management tools.
Damen Chen, Vice President and Head of Group Commercial at KuCoin, emphasized Vietnam's emergence as a dynamic blockchain hub, stating: "Through this strategic partnership with VBA and 1Matrix, KuCoin is excited to co-develop blockchain technology and commit to long-term collaboration in building community trust, advancing digital asset education, and nurturing Vietnam's blockchain startup ecosystem."
The VBA, established in 2022 under the Ministry of Home Affairs, is Vietnam's first legally recognized blockchain organization tasked with advancing the National Blockchain Strategy. 1Matrix specializes in blockchain infrastructure development through its VBSN platform, which enables rapid deployment of layer-1 blockchains and supports digital identity applications.
This collaboration represents more than a symbolic alliance—it blends global expertise with local infrastructure and policy backing to set a benchmark for similar initiatives in emerging markets. The partnership aligns with Vietnam's goal of becoming a leader in digital innovation and could attract more businesses and investors to the country's digital economy.