Da Nang Enlists Bybit to Facilitate the Establishment of an International Financial Center and Test Sites for Blockchain Innovations
Bybit Partners with Da Nang City to Develop Regional Hub for Finance and Blockchain Innovation
In a significant move for the blockchain and cryptocurrency industry, Bybit, the second-largest global cryptocurrency exchange, has signed a Memorandum of Understanding (MOU) with Da Nang City, ADBC, and Verichains. The partnership aims to develop Da Nang as a regional hub for international finance and blockchain innovation.
Da Nang, a city that has been pushing for tech and finance investment, recently approved a blockchain sandbox, positioning it as a testing ground for progressive digital-asset policies. This move has attracted the attention of Bybit, which believes in building sustainable ecosystems hand in hand with governments, institutions, and trusted partners.
The MOU aims to help Da Nang and Vietnam more broadly integrate digital assets while protecting investors and the financial system. Bybit has positioned itself as a bridge between traditional finance and decentralized finance, emphasizing secure custody, diverse marketplaces, and on-chain infrastructure partnerships.
The new cooperation between Bybit and Da Nang will bring international liquidity, technical know-how, and security practices to Da Nang as it pilots new regulatory and market structures. The agreement includes Da Nang's authorities streamlining administrative procedures to facilitate partner investment and office opening.
Bybit and its partners will provide policy consultation, share international best practices, and assist in building a modern regulatory framework for Da Nang's International Financial Center. The regulatory framework aims to be policy-flexible and risk-controlled to minimize exposure to threats targeting digital-asset ecosystems.
Pilot testing issuance and trading of crypto assets under strict Anti-Money Laundering (AML) and Know Your Customer (KYC) safeguards is also part of the MOU. The authoritarian body directly involved in the MOU initiated by Bybit is the People's Committee of Da Nang City; this local government authority signed the agreement alongside international partners.
Bybit's Co-Founder and CEO, Ben Zhou, met with Vietnam's Minister of Finance, H.E. Nguyen Van Thang, in Hanoi in April 2025, expressing support for the country's regulatory sandbox initiative and backing efforts to create a safe, transparent, and innovation-friendly digital-asset ecosystem.
This partnership is a continuation of the talks initiated in April 2025 and a natural continuation of Bybit's earlier engagement in Vietnam. Bybit, founded in 2018, serves a global community of over 70 million users. The company is committed to sharing its global expertise in blockchain and digital asset innovation to support Da Nang's vision of becoming an International Financial Center.
Helen Liu, Co-CEO of Bybit, stated that Bybit is honoured to contribute to Vietnam's digital transformation journey. The partnership aims to create digital-asset liquidity, improve ecosystem connectivity, and strengthen infrastructure security in Da Nang. The new cooperation is expected to bring significant benefits to both parties, fostering innovation and growth in the digital asset space.
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