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ToggleMB Bank Enters the Digital Asset Arena: Partnering with Global Giants to Build a Comprehensive Digital Banking Ecosystem.
At a significant investor event held in early August 2025, Military Commercial Joint Stock Bank (MB) stirred the financial market with a new strategic announcement: expanding into the digital asset business, collaborating with one of the top three global partners in this field.
Behind the seemingly dry announcement lies a long story of continuous digital transformation of one of Vietnam's largest commercial banks. With over 33 million customers as of mid-2025, MB has gradually moved beyond the limits of a traditional bank to become a diverse and expanding digital ecosystem, where users can not only deposit and borrow capital but also invest in stocks, bonds - and soon, digital assets.
From Traditional Banking to Digital Ecosystem
Five years ago, MB was a traditional bank with operations primarily based on physical branch networks. However, recognizing the rapid shift of consumers to digital space, MB made a strong investment in technology - an internal "transformation" with over 2,000 technology engineers directly involved in digital platform development projects.
The result was the emergence of products like MBBank App, BIZ MBBank platform for businesses, and the Banking-as-a-Service (BAAS) model - allowing businesses to directly integrate banking services into their own products and applications through APIs provided by MB.
To date, this digital ecosystem has created nearly 1,600 APIs, connected with hundreds of partners, and supported the development of dozens of "mini apps" serving millions of transactions daily. The total transaction value through MB's digital platforms in the first half of 2025 alone reached an impressive figure of trillions of dong.
Digital Assets: A New Shard of Digitalization Strategy
However, MB's ambitions do not stop there. In the context of digital assets - including blockchain-based assets such as tokenized real estate, digital bonds, stablecoins, or cryptocurrencies - gaining increasing attention, MB recognizes this as an inevitable trend that modern banks need to anticipate if they want to fully serve users' comprehensive financial needs.
By collaborating with a partner in the global top 3 for digital asset technology, MB is laying the foundation for an important transition: helping customers invest, trade, and manage digital assets directly within MB's ecosystem - similar to how they deposit money, buy stocks, or bonds today.
Ambition to Build an Open Ecosystem - Not Just Banking, but Also Healthcare
Interestingly, MB's digital transformation ambitions do not stop at the financial sector. In the first half of 2025, MB completed the implementation of a core technology system integrated with healthcare for a major hospital in Vietnam - a starting point for deeper participation in the digital healthcare ecosystem. This shows MB's long-term orientation to become a multi-service technology platform, where banking is just one part of the overall picture.
What is MB Building?
MB can be imagined as a financial "super app" in the process of formation. With a powerful API system, flexible digital platforms, and an open mindset about digital assets, this bank is moving closer to the platform banking model - where banking services are seamlessly integrated into customers' digital lives, from consumption and investment to healthcare.
In a global financial market increasingly focused on transparency, transaction speed, and user experience, MB's proactive anticipation of technological trends such as digital assets or BAAS can be seen as a strategic move to maintain competitive advantage and lead the digital banking market in Vietnam in the coming decade.
