Ethereum News Today: Ethereum Fuels South Korea's Crypto Boom as Vietnam Readies Regulated Exchange

Ethereum (ETH) has emerged as the most traded cryptocurrency on Upbit’s Korean won (KRW) market, accounting for 17.98% of the $2.345 billion in 24-hour trading volume. As of 18:50 CST on August 21, 2025, one Ethereum was valued at approximately 6,003,731 KRW, a 3.9% increase over the previous 24-hour period [1]. This performance positions ETH as a significant driver of liquidity and interest on the platform, highlighting the continued appeal of Ethereum within South Korea’s evolving cryptocurrency market.

The dominance of ETH/KRW pairs reflects broader trends in the region’s digital asset adoption. Over the past month, Ethereum’s price has risen by 13%, while the one-year growth stands at 13.6% [1]. These figures underscore the resilience and potential of Ethereum as a leading altcoin, even amid a volatile macroeconomic environment. The 30-day range of 6,550,000 KRW further indicates the asset’s dynamic trading behavior and the liquidity it brings to exchanges like Upbit.

Meanwhile, in a significant development for the Vietnamese crypto market, Military Bank (MB), a state-owned financial institution under the Vietnamese Ministry of National Defense, has partnered with Dunamu, the parent company of Upbit, to launch a regulated cryptocurrency exchange in Vietnam. According to a recent announcement by Dunamu, the two entities have signed a memorandum of understanding to establish the platform using Dunamu’s technological infrastructure. Military Bank emphasized that the initiative aims to promote the development of Vietnam’s digital financial market [2].

This collaboration marks a strategic move by Vietnam to formalize its approach to cryptocurrency regulation. Earlier in 2025, the State Bank of Vietnam (SBV) outlined a legal framework for digital assets, including tokenized assets, and announced a pilot program for financial technology companies, which includes crypto exchanges [2]. The pilot will operate within an international financial center, and the SBV indicated that multiple exchanges will be permitted, suggesting a competitive and structured environment for the sector.

The proposed exchange will not be Vietnam’s first, as platforms such as BitcoinVN and Nami.Exchange already offer crypto trading services. However, the involvement of a state-controlled bank signals a potential shift toward regulatory clarity and investor confidence. With the Vietnamese government actively working on policy and legal frameworks, the entry of a state-backed exchange could accelerate the mainstream adoption of cryptocurrencies in the country and serve as a model for future regulation.

The partnership between Military Bank and Dunamu also highlights the growing regional integration within the cryptocurrency ecosystem. As South Korean platforms expand their influence in Southeast Asia, and Vietnamese regulators adopt a more structured approach, the digital asset market in the region is likely to see increased institutional participation and market maturity. This evolution could further solidify Ethereum’s position as a key player in cross-border and regional trading dynamics.

Source:

[1] Ethereum to Won - ETH/KRW (https://fx-rate.net/ETH/KRW/)

[2] Vietnam's MB Bank and UpBit's parent Build Crypto Exchange (https://cointelegraph.com/news/vietnamese-state-controlled-bank-aims-to-launch-the-nation-s-first-regulated-crypto-exchange)