Vietnamese company Linh Thanh Group has started cooperation with Swiss blockchain company KRONN Ventures. The cooperation aims to establish the first fully authorized cryptocurrency exchange in the Southeast Asian country. The information comes from a press release stating that the two companies have signed a mutual agreement and have already received the relevant license to establish a cryptocurrency exchange in Vietnam. New Era This news comes after Zug-based KRONN Ventures AG formed a consortium late last year to create an international system of blockchain market players. From the aforementioned press release, we learn that Linh Thanh Group and KRONN Ventures are building a "world-class cryptocurrency exchange." Certainly, the new entity's position is strengthened by the fact that today Zug is recognized as the European hub for cryptocurrencies and blockchain technology. The city - often referred to as the Crypto Valley - is already known worldwide for this fact. KRONN has also partnered with London's King's College in an artificial intelligence research center. From the announcement, we learn that the two entities promise a lot from the synergy of Linh Thanh Group's "distribution network, which [is] the largest in Vietnam" and KRONN Ventures' "world-class technology." The parties hope that the fruits of cooperation will be felt "not only in Vietnam, but also in other neighboring Asian countries." Don't get left behind and wait for a bubble Linh Thanh Group's partnership with KRONN Ventures is likely driven by the desire of developing countries in Asia not to be left behind when it comes to blockchain development. As you can see, the Vietnamese see the potential, e-currencies and blockchain networks. In addition, as you can guess, they want to launch the exchange even before the new bubble cycle in this market. So, not for the first time, we can deduce that the best time to enter the cryptocurrency market (also from a business perspective) is the period of the sideways trend, which we are most likely seeing right now. Opening such a business - like an e-currency exchange - can be a lucrative business in Vietnam during the bull market. Tags cryptocurrency exchanges KRONN Ventures Linh Thanh Group Vietnam Zug
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