Partnership aligned with Vietnam government’s regulatory reform to build global-standard infrastructure

Establishing a digital asset financial hub that connects key infrastructure including exchanges and custody services

Joint venture (JV) to be launched within the year, with pilot operations under the regulatory sandbox

Seoul, September 23, 2025 – BDACS, a leading regulated institutional digital asset custodian in Korea, announced that it has signed a memorandum of understanding (MOU) with IDGX, a Vietnam-based digital asset investment firm under IDG Capital Vietnam, to establish a joint venture (JV) in Vietnam. The agreement comes as the Vietnamese government introduces a new regulatory framework for digital assets and represents a strategic collaboration to build and operate global-standard trading and custody infrastructure.

The partnership will focus on digital asset exchange and custody services, regulatory compliance and verification frameworks, and infrastructure for Digital Asset Treasury (DAT) company integration. The JV will be launched within the year, with initial operations under Vietnam’s regulatory sandbox program, setting the stage for scalable expansion across the region.

Since 2024, Vietnam has elevated blockchain and digital assets to the level of national strategic technologies, while also advancing initiatives such as establishing international financial centers in Ho Chi Minh City and Da Nang and piloting a digital asset exchange program. Local banks are moving swiftly in response. Notably, the Vietnamese banking institution Military Commercial Joint Stock Bank (MB) has partnered with Dunamu, operator of Upbit, for technology transfer and legal advisory. BDACS and IDGX will also actively collaborate with Vietnamese financial institutions as part of this industry-wide shift. With a robust regulatory framework and strong participation from the banking sector, Vietnam is poised to emerge as Southeast Asia’s next digital asset hub.

Vietnam has recently defined a licensing roadmap for digital asset managers and exchanges, solidifying its position as one of the fastest-growing digital finance markets in Southeast Asia. The country is also advancing the establishment of its first Digital Asset Treasury (DAT), designed to deliver secure financial management, liquidity optimization, and risk-mitigation solutions—strengthening the long-term trust and credibility of the ecosystem.

IDGX will support the JV’s successful market entry with its local operational experience, regulatory networks, and capital resources. BDACS, in turn, will contribute its proven expertise in regulatory compliance and blockchain technology from the Korean market, driving the creation of a stable and transparent digital asset financial infrastructure.

Harry Ryoo, CEO of BDACS stated, “This agreement marks a pivotal milestone for building a global custody and digital financial infrastructure, leveraging the shared regulatory and market environments of Korea and Vietnam. Our goal is to position BDACS as a trusted infrastructure provider not only in Southeast Asia but across the global digital asset market.”