Vietnam's HHP and Singapore's EFGH invest $8 million to build blockchain infrastructure

According to an agreement signed between HHP Vietnam and EFGH Singapore, a joint venture company VNL1 has been established to invest $8 million in building Vietnam's national level blockchain commodity traceability infrastructure. VNL1 will operate as the Ethereum Layer 2 settlement layer, supporting product identification, verification, and traceability regulations. Both parties also signed five digital project framework agreements, including V-Fintech, V-TOK, V-ICEX, GDCAI, and V-FIT.