This is a watershed moment for “Make in Vietnam” blockchain technology as U2U Network becomes one of the few domestic projects to meet the stringent listing standards of a top-tier global exchange.
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U2U Network is a Layer-1 blockchain platform developed by Vietnamese engineers. It will debut on Kraken exchange on October 17. (Photo: en.vietnamplus.vn) |
Kraken, known for its transparency, compliance, and security, operates legally across more than 190 countries under regulatory oversight from the U.S., Canadian, British, European, and Japanese financial authorities. With more than 10 million users worldwide, the exchange ranks among the world’s largest exchanges by trading volume, alongside Binance and Coinbase. In its 14 years of operation, Kraken has listed only about 500 tokens, a testament to its selective process.
According to Chloe Phung, co-founder and CEO of U2U Network, the project proves that Vietnam could build a world-standard blockchain platform with real application, real users, and real value. Karen’s listing, she said, is an important milestone in the journey, stating it demonstrates U2U Network’s cautious, sustainable, and transparent approach to the US market.
Built on the Directed Acyclic Graph (DAG) structure, compatible with Ethereum Virtual Machine (EVM), the network processes over 17,000 transactions per second with finality under one second, positioning itself in the Decentralized Physical Infrastructure Network (DePIN) sector for real-world needs such as IoT, data, and digital identity.
U2U Network currently serves over 1.4 million users globally, with more than 100 projects either operating on or committed to developing on the platform. Research firm Messari, a leading provider of crypto market intelligence products, ranks U2U among the top three Layer-1 blockchains in DePIN, recognizing its pioneering role in building infrastructure tied to practical applications.
Besides, the network is nurturing Vietnam’s next generation of blockchain innovators through the VietBUIDL Hackathon, the largest blockchain innovation competition in Southeast Asia, backed by a 100 billion VND (3.79 million USD) investment fund that has drawn widespread attention from both domestic and international communities.
U2U Network’s backers include SSI Digital, the digital technology arm of SSI Securities Corporation, alongside international funds such as KuCoin Ventures and Chain Capital, with AWS as a technology partner. The accompany from established financial institutions has helped U2U elevate its operational transparency standards and create pathways between traditional finance and digital assets.
Source: VNA