Bipolar medium-voltage dc (MVDC) distribution systems are of great interests nowadays due to its high availability and reliability. A bipolar MVDC grid can be established by the installation of power-balancers or directly by converters with inherent bipolar operation capability to avoid the extra cost and volume. Therefore, this paper proposes a modular multilevel dc-dc converter (MMDC) with inherent bipolar operation capability for the interconnection of bipolar MVDC grids and LVDC grids. Considering that the MMDC is normally only capable of operating with monopole MVDC distribution systems due to the symmetric structure and operation scheme, a center-tapped high-frequency interface transformer is employed on the MV side of the MMDC. Based on the concept of the flux dc-bias cancellation, a dedicated operation method is proposed, whereby the power flows of the two MVDC poles can be regulated independently with a simple control scheme, and no penalty of increased current rating is imposed on the semiconductor devices or the interface transformer compared to the conventional MMDC with monopole operation. Additionally, the MMDC can realize single-pole operation in case one pole is faulty and deliver at least 50% of the rated power capacity, which significantly enhances the reliability and availability of the power delivery. The validity of the proposed bipolar operation scheme of the MMDC has been verified by both simulations and experiments with a down-scale prototype.