Vietnam’s largest distribution company, Linh Thanh Group, is apparently partnering with Switzerland-based blockchain company KRONN Ventures to establish the first fully-authorized cryptocurrency exchange in the Southeast Asian country.
The information comes from a press release, which states that the two companies have signed a memorandum of understanding and have received a license to establish a cryptocurrency exchange in Vietnam.
This news comes after the Zug-based KRONN Ventures AG brought together financial committees from Vietnam, Philippines, Cambodia, Bangladesh, and Sri Lanka to form a consortium in late last year. The consortium was formed to construct an international wiring system powered by blockchain technology.
The aforementioned press release claims that the Linh Thanh Group and KRONN Ventures are building “a world-class cryptocurrency exchange” — which may have merit, given Zug’s standing as a leading cryptocurrency and blockchain hotspot in the world. KRONN has also worked with London’s King’s…