If you are asking yourself, Is Vietnam Striding Towards Increased Crypto Adoption?, then the answer is yes. Vietnam has been moving towards a more crypto friendly environment in the country.
Which is why, Vietnam is going to get its first approved crypto exchange, courtesy of the Linh Thanh Group. For those not familiar with the Linh Thanh Group, it is the biggest distribution firm in Vietnam. The group is partnering up with KRONN Ventures, which is a blockchain firm based in Switzerland, to establish the first cash exchanging stage in Vietnam.
Now what’s interesting about this new collaboration, is how it will affect the South Asian Crypto market. As we know, crypto adoption has been something that hasn’t been encouraged in many countries so far, especially in Asia. China has been strict towards cryptocurrency regulations and it is virtually banned in India.
So keeping in mind the current conditions of South East Asia, this new crypto exchange in Vietnam could lead the way forward in demonstrating a more accepting stance towards cryptocurrencies.
KRONN and the Linh Thanh Group have allegedly marked a memorandum of understanding, and have received a green light to go ahead and build the crypto exchange in Vietnam. The declaration said:
“The industry expects that by combining the massive distribution network of Linh Thanh Group and the world-class tech of KRONN, Vietnam will not be the only nation to feel the impact. The impact will spread across other Asian nations.”
Vietnam would make a great place for such a development owing to its crypto friendly regulations and its emerging economy in the SouthEast Asian region. People are willing to embrace crypto in the market and they have placed their faith in Bitcoin.
We hope that this would encourage more countries which are still lagging behind in the crypto revolution, to start considering having crypto exchanges in their respective nations.