Da Nang, Vietnam – Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has signed a landmark Memorandum of Understanding (MoU) with the People’s Committee of Da Nang City, the Abu Dhabi Blockchain Center (ADBC), and Verichains Network Security Company Limited. The agreement marks a significant step forward in Vietnam’s journey to become a global hub for digital finance, underscoring Da Nang’s growing importance in the international blockchain ecosystem.
Da Nang Positioned as Vietnam’s Blockchain Frontier
As one of Vietnam’s largest cities and a vital economic engine, Da Nang has long been recognized for its progressive vision in adopting cutting-edge technologies. With official approval to deploy a blockchain sandbox, the city is poised to serve as a testing ground for advanced financial technologies and policy frameworks. This makes it a natural choice for both domestic and international partners seeking to innovate in blockchain and digital asset management.
The newly signed MoU aims to build Da Nang into an International Financial Center (IFC). The collaboration will advance three core pillars:
Digital Asset Liquidity – enabling Da Nang to connect seamlessly with global financial markets and attract cross-border capital.
Ecosystem Connectivity – linking Vietnam with major international financial hubs, positioning Da Nang as a bridge between East and West.
Infrastructure Security – ensuring blockchain innovation is supported by a secure, resilient, and risk-controlled environment.
These priorities will help transform national digital asset strategies into localized, actionable outcomes. Bybit and its partners will provide expertise, share international best practices, and assist policymakers in creating a transparent, flexible, and innovation-friendly regulatory framework.
Government and Private Sector Alignment
The MoU also outlines a clear division of roles between the city government and its partners. Da Nang will streamline administrative procedures to encourage investment, facilitate the opening of partner offices, and integrate stakeholders into the IFC ecosystem. Bybit, ADBC, and Verichains will in turn advise on digital asset regulation, contribute to policy consultation, and deliver technical know-how.
This model emphasizes cooperation between governments and private sector leaders, ensuring the IFC balances flexibility with strict safeguards. Such safeguards are critical to minimizing exposure to threats such as cyberattacks, fraudulent activities, and risks that often accompany emerging financial technologies.
Bybit’s Expanding Role in Vietnam
For Bybit, this agreement builds on a track record of proactive engagement in Vietnam’s digital economy. Earlier in April 2025, Bybit Co-Founder and CEO Ben Zhou met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to discuss the government’s pilot sandbox mechanism for crypto assets.
That meeting focused on creating a safe environment to issue and trade digital assets, with strong emphasis on investor protection. Proposed safeguards included robust Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, both critical in building global confidence in Vietnam’s financial framework.
The new MoU reflects the natural continuation of those discussions, formalizing Bybit’s commitment to Vietnam’s transformation into a global blockchain powerhouse.
Bybit’s Vision of Collaborative Growth
Helen Liu, Co-CEO of Bybit, highlighted the strategic importance of the partnership.
“Vietnam is an inspiring example of a nation embracing digital transformation, and we are honored to contribute to its journey,” Liu said. “Bybit is committed to sharing our global expertise in blockchain and digital asset innovation to support Da Nang’s vision of becoming an International Financial Center. This partnership reflects our belief in building sustainable ecosystems hand in hand with governments, institutions, and trusted partners.”
Bybit’s approach emphasizes collaboration rather than competition, aligning its growth with local policies while contributing global experience. This strategy not only benefits Vietnam but also positions Bybit as a trusted partner for governments worldwide exploring blockchain adoption.
The Bigger Picture: Vietnam’s Digital Ambition
Vietnam’s rapid embrace of digital technologies reflects its broader ambition to secure a role in the global digital economy. By fostering international partnerships and piloting regulatory frameworks through sandboxes, the country aims to attract investment, encourage innovation, and build long-term economic resilience.
Da Nang, with its designation as a blockchain sandbox zone, is set to be at the center of this transformation. The city’s efforts to create an International Financial Center go beyond local economic growth—they represent Vietnam’s desire to stand alongside established global financial hubs in Singapore, Dubai, and Hong Kong.
The MoU with Bybit and its partners is therefore more than a local initiative. It signals Vietnam’s intention to integrate into the global blockchain landscape, offering both security and innovation in a space that is often criticized for volatility and risk.
Looking Ahead
The signing of the MoU is a symbolic and practical milestone in Vietnam’s digital journey. It shows how global exchanges like Bybit are working with governments and regional institutions to build sustainable and secure blockchain ecosystems.
As Da Nang advances its IFC vision, the combined efforts of public authorities and private players will determine the pace and scale of adoption. Success will hinge on the city’s ability to maintain investor trust, enforce rigorous safeguards, and deliver policies that encourage innovation without compromising stability.
For Vietnam, the future of digital assets is not just about technology—it is about positioning the nation as a global leader in finance, innovation, and secure blockchain adoption. With partners like Bybit and the Abu Dhabi Blockchain Center, Da Nang is well on its way to achieving that goal.
