Bithumb Signs MOU With SSID for Vietnam Crypto Exchange

South Korean crypto exchange Bithumb signed a memorandum of understanding (MOU) with SSI Digital (SSID) in March 2026. An MOU is a non-binding agreement that sets out the terms of a planned partnership. Bithumb publicly announced the agreement on 07 May 2026. SSID is a subsidiary of SSI, Vietnam's largest securities firm. The partnership targets the establishment and operation of a digital asset exchange in Vietnam. Cooperation areas include wallet and custody systems, security, risk management, compliance, and product development.

"We will make strict compliance with the regulatory environment of Vietnam's financial authorities our top priority and work together [with SSID] to build a safe virtual asset trading infrastructure.", 07 May 2026. — Bithumb Spokesperson, Spokesperson, Bithumb

Investment in SSID depends on local approvalBithumb may make a direct strategic investment in SSID's planned exchange. This investment is contingent on approval from Vietnamese financial authorities. The MOU was signed at SSI's Hanoi branch on 02 March 2026. Bithumb chief executive Lee Jae-won attended the signing in person. No investment amount has been disclosed.

Vietnam holds an estimated 17 million crypto ownersVietnam has approximately 17 million digital asset owners, according to Vietnamese government data. Blockchain analytics firm Chainalysis ranked Vietnam sixth on its 2025 Global Crypto Adoption Index. The index measures real-world crypto usage across countries. India, the United States, and Pakistan ranked above Vietnam. Chainalysis identified remittances, gaming, and savings as primary use cases for crypto in Vietnam.

"[Vietnam] shows crypto as everyday infrastructure for remittances, gaming, and savings.", September 2025. — Chainalysis, Institutional Author, Chainalysis — Asia Pacific Crypto Adoption 2025 Report

Bithumb delays IPO timeline to after 2028Bithumb pushed its initial public offering (IPO) plans back to after 2028. An IPO is the process by which a private company lists its shares on a public stock exchange. Bithumb originally targeted the second half of 2025 for its listing. The exchange signed an advisory agreement with Samjong KPMG through the end of 2027. Multiple sources confirmed the delay in March and April 2026.

Fat-finger error distributed 620,000 BTC to customersA Bithumb employee mistakenly distributed 620,000 BTC to customers in February 2026. BTC is the ticker symbol for Bitcoin, a major global cryptocurrency. Bloomberg reported the incident on 09 February 2026. Bloomberg described the incident as an approximately $40 billion error. Bithumb recovered 99.7% of the Bitcoin, equivalent to 618,212 BTC. Seven BTC remained unrecovered as of later reporting. South Korea's Financial Services Commission (FSC) launched an inspection of the exchange following the incident. A Bithumb employee mistakenly distributed 620,000 BTC to customers in February 2026. BTC is the ticker symbol for Bitcoin, a major global cryptocurrency. Bloomberg reported the incident on 09 February 2026. Bloomberg described the incident as an approximately $40 billion error. Bithumb recovered 99.7% of the Bitcoin, equivalent to 618,212 BTC. Seven BTC remained unrecovered as of later reporting. South Korea's Financial Services Commission (FSC) launched an inspection of the exchange following the incident. Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.