Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced the signing of a 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. This milestone underscores Bybit’s commitment to supporting Vietnam’s digital asset ecosystem and deepening long-term cooperation in building Da Nang into a hub for international finance and innovation.
Da Nang, one of Vietnam’s largest cities and a major economic center, has been approved to deploy a blockchain sandbox — making it a natural location for the country to pilot progressive policies and attract international partnerships in digital assets and blockchain technology. Under the MOU, the partners will jointly support the city’s vision to establish an International Financial Center (IFC) through three core pillars:
- Digital asset liquidity to connect Da Nang with global financial markets.
- Ecosystem connectivity to link Vietnam with leading international finance hubs.
- Infrastructure security to ensure a resilient, risk-controlled environment for blockchain innovation.
The partnership is key to translating national strategies into local implementation, ensuring that the IFC model is both policy-flexible and risk-controlled – minimizing exposure to threats targeting digital asset ecosystems.
The MOU underscores mutual commitments. Da Nang will facilitate administrative procedures for the partners to invest, open offices, and integrate into the IFC. In turn, Bybit and its partners will offer policy consultation on digital assets and blockchain technology, share international best practices, and support Da Nang in building a modern regulatory framework.
Helen Liu, Co-CEO of Bybit, said:
“Vietnam is an inspiring example of a nation embracing digital transformation, and we are honored to contribute to its journey. 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.”
This collaboration builds on Bybit’s earlier engagement in Vietnam. In April 2025,, Bybit Co-Founder and CEO Ben Zhou met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, at the Ministry of Finance headquarters in Hanoi. During the meeting, Bybit expressed strong support for Vietnam’s regulatory sandbox initiative and its vision to establish a safe, transparent, and innovation-friendly digital asset ecosystem. Discussions focused on the Government’s plan to launch a pilot sandbox mechanism to test the issuance and trading of crypto assets in a controlled environment, with robust safeguards such as Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols to protect investors and strengthen financial security.
Today’s MOU marks a natural continuation of these efforts, reaffirming Bybit’s role as a long-term partner in Vietnam’s digital transformation journey.
Photo From left to right: Mr. Abdulla Al Dhaheri, CEO of Abu Dhabi Blockchain Center; Helen Liu, Co-CEO, Bybit; Mr. Ho Ky Minh, Permanent Vice Chairman of the Da Nang People’s Committee; and Mr. Nguyen Le Thanh, Founder and CEO of Verichains
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