Bitcoin exchange Bitcoin Vietnam has signed a strategic partnership with Denmark-based Coinify ApS to launch the first blockchain payment processing platform in the local market.
The platform, which will be integrated with the merchant’s website/ online-shop, will also support point-of-sale (POS) app tailored for retail stores.
During the initial stage, Vietnamese businesses will receive payments in bitcoin or 16 other blockchain currencies supported by Coinify that will be automatically converted to the Vietnamese Dong.
Bitcoin Vietnam CEO Nguyen Tran Bao Phuong said: "We believe that this is a great, and necessary, step forward for the development of the domestic market to provide Vietnamese merchants direct access to such technological top-notch solutions which will help them to accept payments in a much safer way while opening up their services to a truly global audience."
Coinify CEO Mark Højgaard said: "The partnership with Bitcoin Vietnam will add yet another payment service provider (PSP) to the list of Bitcoin enabled services in the Southeast Asia region. Vietnam itself is a very attractive market and we are thrilled to be able to bring their merchants and businesses an infrastructure that enables them to embrace this alternative payment method."
Over the coming month, the companies also plan to bring advanced blockchain merchant processing tools to the Vietnamese market.