Vietnam's HHP and Singapore's EFGH have formed a joint venture, VNL1, to invest $8 million in developing Vietnam's blockchain-based commodity traceability infrastructure. VNL1 will function as an Ethereum Layer 2 settlement layer, enhancing compliance with regulations for product identification, verification, and traceability. Additionally, the companies have signed framework agreements for five digital projects: V-Fintech, V-TOK, V-ICEX, GDCAI, and V-FIT.