Linh Thanh To Launch First Crypto Exchange in Vietnam
Linh Thanh Group, a company from Vietnam, has signed a cooperation agreement with the Swiss blockchain startup Kronn Ventures for the purpose of developing and creating a crypto exchange, Coinspot reports.
In order to launch a trading platform, the companies will apply to Vietnamese regulatory organizations for obtaining official permission to operate.
The Swiss company is interested in the Southeast Asian market. It seeks to spread distributed ledger technology and create a payment system fully adapted to the market conditions of this region.
The representatives of Linh Thanh set ambitious goals and state that close cooperation with their Swiss colleagues will help create a crypto exchange of high world standards. The blockchain developments of Kronn Ventures are known far beyond the borders of Switzerland.
The crypto market drop in 2018 did not prevent the inflow of investments in digital technologies in Vietnam. In October, Viettel Group, the largest Vietnamese telecom corporation, in an effort to become the leader of the blockchain industry, created and successfully tested a database on distributed ledger for storing medical records.
The partners call their agreement the most significant event for Vietnam in the crypto sphere. The exact launch date of the new crypto exchange has not yet been reported, it is only known that the platform will start operating in 2019. In the future, it may issue its own token.
As previously reported, the Swiss stock exchange plans to launch its own crypto exchange based on the Corda blockchain.