According to a report, Vietnam is about to see its first fully-authorized digital currency trading platform, thanks to Linh Thanh Group. Linh Thanh Group is the largest distribution firm in Vietnam. To establish the first fully-authorized digital currency trading platform in Vietnam, the firm is partnering with KRONN Ventures. KRONN Ventures is a blockchain firm based in Switzerland.
Linh Thanh Group and KRONN Ventures Receives Licence to Establish a Crypto Exchange in Vietnam
The information was disclosed in a press release. According to the announcement, the two firms have signed an MOU (memorandum of understanding). They have also received the green light to establish a digital currency trading platform in the Southeast Asian country.
This news accompanies the recent achievement of KRONN Ventures AG. In the last quarter of 2018, KRONN Ventures AG brought together financial committees from the Philippines, Vietnam, Bangladesh, Sri Lanka, and Cambodia to create a consortium. They formed the consortium to construct a blockchain technology-powered international wiring system.
Linh Thanh Group and KRONN Ventures Are Building a World Class Crypto Trading Platform
According to the information in the press release, the two firms are building a world-class digital currency trading platform. The exchange may have merit, due to the standing of Zug as the leading blockchain and digital currency hotspot in the world. KRONN recently worked with King’s College of London on an artificial intelligence research facility.
A snippet of the press release states:
“The industry expects that by combining the massive distribution network of Linh Thanh Group and the world-class tech of KRONN, Vietnam will not be the only nation to feel the impact. The impact will spread across other Asian nations.”
However, one can’t deduce if the press release is capable of speaking for the whole digital currency and blockchain industry. The move by KRONN Ventures and Linh Thanh Group is strategic. It is also likely pioneered by the desire for unindustrialized nations in Asia. They don’t want the developing nations to fall behind when the digital currency market finish correcting higher and commence on another positive trajectory.
Will bitcoin recover?
Many investors and analysts still have faith in the digital currency market. They believe Bitcoin (BTC) and other digital currencies in the market will bounce back in the near future. With hopes of massive recovery, some analysts have been bullish on the coin and have released Bitcoin price predictions 2019.
Bitcoin (BTC) Price Today – BTC / USD
Due to the behind-the-scenes developments that have been going in the industry, the market is likely to recover than to break. The move of the firms might also reverse the worrying trend in the region of regulators that cast unfavorable eyes on the industry.
The blockchain and digital currency industries are here to stay. A lot of firms, organizations, and individuals are doing their best to make sure the industry remains firm. The launch of this trading platform in Vietnam will pave the way for the increased adoption of digital currencies. This would expose Bitcoin (BTC) and other digital currencies to more investors. An increase in the adoption of digital currency would result in an increase in their values. Bitcoin (BTC), which is the largest digital currency in the world by market cap, has been trading in a tight range. The digital currency needs bullish news like this to break over its resistance level.