Vietnam Becomes An Appealing Destination For Korean Blockchain Startups

The first company to set foot in Vietnam is NEEO Apps, Korean social media services provider. The Exvina exchange, owned by NEEO Apps, is the first crypto exchange to operate based on Vietnam’s native currency – the Vietnamese dong.

Vietnam is one of the most significant players regarding crypto investments, following countries like China, the United States, Japan, Korea, and Russia. NEEO expanded its coverage across Vietnam, opening a subsidiary in June 2019.

NEEO Apps’ CEO Maeng Jung-ho stated that the population of Vietnam doubles the citizens in South Korea. “They are young, active citizens, with an average age of 30 years. Their annual economic growth rate is six percent. NEEO Apps plans to expand even further, as we seek ways of connecting the various businesses affiliated with the social media platform,”, Maeng added.

Other players also seek prosperity in Vietnam, as the Super Alki Foundation received a strategic investment from the Vietnam-based Vin Crypto blockchain fund for Super Alki’s Finple fintech platform.

Vin Crypto officials stated that they researched the opportunities for investment and growth potential, as there is “a strong investment value” in such ventures. Cho Kang-ho, Super Alki’s CEO, said that the company would continue to expand their influence in the Southeast Asian market via new payment solutions. “We will be on the front row of the birth of a new global financial framework, connecting various industries via blockchain,” Cho added.

Another big company to coast in Vietnam is Sigma Chain – a blockchain tech company, created in cooperation with Vietnamese marketing company Shimex Media, opened a blockchain business in August.