Is there any possibility of crypto to make a comeback entry in Vietnam? Is it happening that South Korean blockchain firms could serve a catalyst for exchange for others? These past days have hit the crypto world with excitement and new discoveries, Ho Chi Minh (HCM) city authorities mentioned that they are going to create a blockchain infrastructure in a bid to power smart city construction initiatives claiming that the use of blockchain is going to be introduced to mitigate risk and streamline processes as per the Vietnam news.

The High-tech Park tech incubator of HCM has also done a deal with South Korean firm CBA Ventures that is going to provide tech support and blockchain training. Also, another South Korean company is planning to do business in Vietnam in cryptocurrency exchange Bitsonic as per the report of News1.  The popular South Korean exchanges such as Upbit and Coinone has launched trading platforms in the past in countries like Indonesia and other South East Asian nations.

Bitsonic in partnership with Innovantech

Also, Bitsonic says that they are going to be in partnership with Innovantech which is a Vietnamese blockchain firm and says that they are planning to launch the exchange named M2Bit which is going to be happening in the first quarter of next year. Call on Blockchain customer care number which is functional all the time. The companies are recommending and looking forward to working with Vietnamese bank Techombank and is planning to offer crypto to dong (Vietnamese fiat) pairing.

A Hai Phong-based accountant, Van Nguuyen told Cryptonews.com that People have now started talking about blockchain and cryptocurrencies in a better and positive manner in the past weeks. The mood is set upbeat during these discussions. He further mentioned that he doesn’t know the reason this is happening because of developments associated with the Chinese government and South Korean companies or not. But, they plan a focused attention to tech developments in both countries.

South Korean regulations hinder the blockchain process

Dute to regulations, the process of blockchain and crypto companies in hinder in South Korea, and numerous firms are looking for places in Asia, planning to developing expansion in Vietnam. While regulation continues to hinder the progress of blockchain and crypto companies in South Korea, a number of firms are looking elsewhere in Asia, developing expansion plans in Vietnam.

This move by HCM’s blockchain come at the time when the central government is planning to start its move in the blockchain game. The nation’s Ministry of Science and Technology mentions that a new SME accelerator project will give priority to Blockchain start-ups. Talk to the team via Blockchain Support Phone Number which is functional all the time for guidance.

The officials of HCM talked about working with agencies to build a roadmap for the application of blockchain in the country. In September, the Korean Times talked about that South Korea’s NEEO Apps had joined forces with a Vietnamese firm to create the Exvina crypto exchange, at that time blockchain firm Sigma Chain is also active in Vietnam.