Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has signed a Memorandum of Understanding (MOU) with the People’s Committee of Da Nang City, Abu Dhabi Blockchain Center (ADBC), and Verichains Network Security. The agreement marks a strategic push to support Vietnam’s digital asset ecosystem and position Da Nang as a hub for international finance and innovation.

Da Nang as a Blockchain Sandbox

Da Nang, one of Vietnam’s largest cities and an economic powerhouse, has been approved to deploy a blockchain sandbox—a regulatory framework that allows controlled experimentation with digital assets. This makes the city an ideal location for piloting progressive policies and attracting international partnerships in blockchain and finance.

Under the MOU, Bybit and its partners will help build the city’s International Financial Center (IFC) across three main pillars:

1. Digital asset liquidity – Connecting Da Nang with global financial markets.
2. Ecosystem connectivity – Linking Vietnam with leading international finance hubs.
3. Infrastructure security – Ensuring a resilient, risk-controlled environment for blockchain innovation.

Bridging Policy and Implementation

The partnership aims to translate national blockchain strategies into local action. Da Nang will facilitate administrative procedures for the partners to invest, open offices, and integrate into the IFC. In return, Bybit and its collaborators will provide policy consultation, share global best practices, and support the city in developing a modern regulatory framework for digital assets.

Industry observers note that this initiative could make Vietnam a significant player in Southeast Asia’s blockchain ecosystem, offering a model for how cities can combine regulatory flexibility with risk-managed innovation.