Linh Thanh Group, KRONN Ventures Partner To Establish Vietnam’s First Authorized Crypto Exchange

News | March 28, 2019 By:

Vietnamese distribution company Linh Thanh Group has signed a memorandum of understanding (MOU) with Swiss blockchain startup KRONN Ventures to establish a cryptocurrency exchange in Vietnam.

Established in 2003, Linh Thanh Group is a group of ten subsidiary companies doing business in Vietnam and joint venture companies with partners from Saudi Arabia, Korea, Thailand, Malaysia, UK and USA. Its mission is to help clients make distinctive, lasting, and substantial improvements in their performance and to build a great firm that attracts, develops, excites, and retains exceptional people.

Based in Zug, Switzerland, KRONN has been recognized for its technology in the field of foreign exchange remittance using blockchain technology. In October 2018, the firm formed a consortium with financial committees of five Asian developing countries including Vietnam, Philippines, Cambodia, Bangladesh, and Sri Lanka to build an international wiring system using blockchain technology that fits with the Asian environment.

Under the MOU, Linh Thanh Group will be working with KRONN Ventures to facilitate the production of cryptocurrency and the establishment of cryptocurrency exchange in Vietnam, to which the companies have reportedly obtained an appropriate license.

“The industry expectation is that by combining Linh Thanh Group’s massive distribution network, which is the largest in Vietnam, with the world-class technology of KRONN Ventures, the impact will be widely felt not only in Vietnam but also in other surrounding Asian countries,” the companies said.