By Bach Quang
Fri, October 10, 2025 | 9:47 am GMT+7
Vietnam Embraces the Future of Digital Assets
In a significant move towards embracing digital finance, Tether Limited Inc., the issuer of the globally recognized stablecoin USDT, is aiming to forge partnerships with Vietnamese businesses to expand the country’s crypto-asset market. This initiative was highlighted during a discussion between Marco Dal Lago, Tether’s Vice President of Global Expansion and Strategic Partnerships, and Deputy Prime Minister Ho Duc Phoc on Thursday.
The Government’s Vision for Crypto-Assets
Recently, the Vietnamese government has made notable strides in establishing a clear framework for cryptocurrency transactions. This effort includes the introduction of Resolution 5, which allows for a five-year pilot program intended to regulate the market. According to Deputy Prime Minister Phoc, this initiative aims to create a secure environment for investors while also serving as a conduit for national economic growth.
Tether’s Proposal for Collaboration
During the meeting, Dal Lago expressed Tether’s willingness to share valuable expertise on developing legal structures that support digital transactions. He emphasized the importance of learning from established markets to mitigate potential risks associated with crypto trading. “This will be a professional ‘playground’ for investors and contribute to the country’s development,” Phoc stated, outlining the broader vision for Vietnam’s financial future.
Current Landscape of Vietnam’s Digital Asset Market
Despite the favorable progress, the financial ministry has noted that as of October 5, it has not yet received formal requests from businesses wishing to participate in this pilot market. Nevertheless, the ministry is keen to support companies that are preparing to enter the digital asset arena, with hopes to commence operations before the end of 2026. Analysts from VinaCapital estimate that around 17 million Vietnamese are actively engaging in cryptocurrencies, with an annual transaction volume exceeding $100 billion, predominantly on foreign exchanges.
Anticipated Economic Benefits
The evolution of Vietnam’s approach to crypto-assets signifies the government’s commitment to transition its activities from informal offshore platforms to formal, taxable systems integrated into the national economy. The framework surrounding this pilot initiative will undoubtedly attract significant financial resources, fostering growth within the domestic market.
Looking Ahead
As Vietnam positions itself in the global digital landscape, the collaboration between Tether and local enterprises may very well serve as a catalyst for further innovation and investment in the region. With an eye on security and efficient policy implementation, the partnership aims to create a sustainable and dynamic market for both investors and residents alike.
This collective effort marks a pivotal moment for Vietnam as it embraces digital finance, transforming potential risks into opportunities for economic advancement.
