Bithumb Vietnam and SSID have formed a partnership to expand into the Southeast Asian cryptocurrency trading market.

According to The Block, South Korean cryptocurrency exchange Bithumb announced it has signed a memorandum of understanding (MOU) with SSI Digital (SSID), the blockchain subsidiary of Vietnam’s largest securities firm, SSI. Under the MOU, the two parties will jointly establish and operate a digital asset exchange in Vietnam, covering areas including wallet and custody systems, security risk management, regulatory compliance, and product development. The agreement was signed in March this year and officially announced today. Bithumb stated that, subject to approval by local regulatory authorities, it may make a strategic investment in SSID’s cryptocurrency exchange project.