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Blofin, a British cryptocurrency exchange, has announced its expansion into the Vietnamese market.

The exchange is customizing its services to cater to the specific language and requirements of the local population. Additionally, Blofin has established dedicated support to ensure prompt assistance for user inquiries in the country.

“With 21% of its population reportedly owning cryptocurrencies, Vietnam has emerged as a global leader in cryptocurrency adoption,” said Matt Hu, CEO of Blofin.

The company said it is building connections with influential figures in Vietnam, collaborating with innovative projects, and engaging with local crypto communities to foster stronger user engagement.

Binance, Exness, and Skilling are among Blofin’s top competitors in Vietnam. Binance stands out as a leading player, as it’s the top crypto exchange worldwide in terms of trading volume, according to data from CoinMarketCap.

It is worth noting that in the past, Pham Minh Chinh, the prime minister of Vietnam, has expressed the need for the government to thoroughly examine cryptocurrency regulation. 

The State Bank of Vietnam has also previously warned about the risks associated with owning, trading, and using cryptocurrencies, emphasizing that they are not protected by law.

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