Vietnam has officially entered into a partnership with Tether, the issuer of stablecoin USDT, to develop a regulated cryptocurrency market in the country. According to investorthe partnership aims to pilot crypto exchange licenses while providing guidance on regulatory frameworks, operational practices, and market infrastructure.
Vietnam’s strategic transition to cryptocurrencies
Vietnam recently passed Resolution 05/2025/NQ-CPauthorizes a five-year pilot program for licensed cryptocurrency exchanges. Under this framework, the government plans to initially license up to five exchanges, paving the way for a fully regulated market in the future. This pilot program allows the government to test market stability, investor behavior and regulatory mechanisms before introducing comprehensive legislation.
Deputy Prime Minister Ho Duc Phoc stressed that crypto-asset trading is a new field and one with potential risks. By working with Tether, Vietnam aims to establish a controlled and professional environment for crypto investments while attracting external funds to support the country’s economic growth.
Fok stressed that the market serves not only as a testing ground for investors, but also as a mechanism to channel capital into national development projects such as highways, airports, ports and financial centres.
“This will be a professional ‘playground’ for investors and citizens, as well as a channel to attract funds and contribute to the country’s economic development,” Phuc said.
The role of tether in Vietnam
Marco Dal Lago, Tether’s Vice President of Global Expansion and Strategic Partnerships, met with Deputy Prime Minister Phuc to discuss the partnership. Dal Lago said Vietnam is a strategic market due to its young population, rapid economic growth and high remittance inflows. He confirmed that Tether values transparency, security, and effective capital management, and is willing to share its global experience in building legal and operational frameworks for cryptocurrency transactions.
Tether will also assist its Vietnamese partners in designing systems for secure crypto trading, developing clear policy guidelines, and managing cash flows through the exchange. The partnership includes exploring collaboration with leading local companies to establish an operational crypto exchange. Dal Lago said:
“Tether is committed to sharing our global expertise and supporting Vietnam’s journey towards innovation and financial inclusion.”
Main purpose of the partnership
of collaboration There are several key areas of focus between Vietnam and Tether.
- Regulatory guidance: Tether provides expertise in creating transparent and functional legal frameworks for crypto asset transactions.
- Exchange development: Vietnamese companies will pilot crypto exchange platforms with guidance from Tether to ensure robust infrastructure and security.
- Financial integration: The partnership aims to facilitate the repatriation of offshore funds through regulated crypto channels.
- Operational best practices: Tether will share how it manages liquidity, transaction security, and market surveillance.
- Market education: Both parties aim to educate investors and regulators about safe crypto participation and minimize systemic risk.
Economic background and market potential
Vietnam’s economy is growing rapidly, GDP approaches $500 billion Growth this year is expected to be 8%. The country’s total import and export value is estimated at $911 billion. By integrating a regulated cryptocurrency market, Vietnam hopes to foster innovation in digital finance while attracting funding for large-scale infrastructure and financial projects.
Stablecoins like USDT play a pivotal role in this ecosystem, providing a reliable medium of exchange and store of value for trading activities. Tether has over $177 billion in total reserve assets (including approximately $120 billion in U.S. Treasuries), providing reliability and liquidity support for such efforts.
Security, risk management and best practices
Both Vietnamese authorities and Tether emphasized the importance of security in emerging markets. The discussion focused on the security, risk mitigation, and transparent governance of crypto asset exchange systems. The main considerations are:
- Secure wallet management and storage solution
- Fraud prevention mechanisms for retail and institutional users
- Regulatory compliance and reporting standards
- Manage liquidity and cash flow through cryptocurrency exchange operations
These measures are designed to protect investors while supporting the operational efficiency and reliability of early-stage exchanges.
Potential benefits for Vietnam
Through this partnership, Vietnam expects to:
- Introducing a structured and compliant cryptocurrency market
- Attracting foreign investment and domestic capital to crypto projects
- Leverage stablecoin technology to facilitate secure and transparent transactions
- Strengthen financial inclusion and modernize national payments infrastructure
By combining Tether’s experience in stablecoin operations with Vietnam’s growing digital economy, the government expects a market that supports both innovation and economic development.
conclusion
The partnership between Vietnam and Tether provides a clear path to building a regulated, secure and efficient crypto market. Vietnam aims to develop a sustainable framework for digital assets through a five-year pilot of licensed exchanges, regulatory guidance and operational support. Tether’s involvement ensures technical expertise, market credibility, and access to stablecoin infrastructure, providing the country with the tools to manage liquidity, transparency, and investor protection while exploring the full potential of digital asset markets.
resource:
Vietnam taps Tether for advice on cryptocurrency market adoption – Report by Bitcoin(.)com: https://news.bitcoin.com/vietnam-taps-tether-to-advise-on-crypto-market-implementation/
Tether seeks partnership with Vietnam to develop crypto market – Investor reports: https://theinvestor.vn/tether-seeks-vietnamese-partnerships-to-develop-crypto-asset-market-d17303.html
Vietnam looks to global best practices for crypto market development – dtinews reports: https://dtinews.dantri.com.vn/vietnam-today/vietnam-looks-to-global-best-practices-to-develop-crypto-asset-market-20251010072134756.htm
Vietnam draws on global best practices to produce the cryptocurrency market report by Vietnam+. https://en.vietnamplus.vn/vietnam-looks-to-global-best-practices-to-develop-crypto-asset-market-post330128.vnp
VN sets 2025 GDP growth rate at least 8% and economic size at $500 billion – Vietnam News reports: https://vietnamnews.vn/politics-laws/1717038/vn-sets-gdp-growth-rate-at-least-8-in-2025-500-billion-economic-scale.html
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