Vietnam Courts Tether: Strategic Crypto Partnerships Set to Revolutionize Digital Finance
Hanoi rolls out the red carpet for stablecoin giant—regulatory shifts signal major market transformation.
The Southeast Asian Gambit
Vietnam's financial authorities are actively negotiating with Tether executives—pushing for collaborative frameworks that could legitimize crypto trading nationwide. Government officials confirmed exploratory talks during Hanoi's Fintech Summit, though specific regulatory timelines remain undisclosed.Stablecoin Sovereignty
Tether's potential entry marks a calculated pivot toward dollar-pegged assets in a market dominated by peer-to-peer crypto transactions. Vietnamese traders currently process billions annually through informal channels—a liquidity gap the government now seeks to formalize.Regulatory Reboot
Previous crypto skepticism gives way to pragmatic adoption as Vietnam positions itself as Southeast Asia's next digital asset hub. Banking representatives hint at tiered licensing systems—because nothing says financial innovation like creating more paperwork for decentralized technologies.The Domino Effect
If finalized, Tether integration could trigger chain-reaction partnerships with Binance and other major exchanges. Local crypto communities report surging optimism—though veterans remember when regulators promised blockchain paradise back during the 2017 ICO craze. Market traditionalists scoff at the crypto embrace, but Vietnam's 20% banked population makes digital assets inevitable. Sometimes financial revolution wears flip-flops and carries a hardware wallet.Vietnam Gears up to Welcome Five ‘Strong’ Crypto Trading Platforms
During the discussions, the Deputy PM expressed how Vietnam is keen on creating a professional platform for investors and attracting financial resources.
Phoc highlighted the country’s recent experiments with crypto trading, allowing a 5-year pilot for trading. The resolution allows only Vietnamese companies to issue tokens and sell them solely to foreign investors.
“Following the pilot phase, once stability is ensured, a comprehensive legal framework will be introduced to regulate the market,” Phoc added.
Further, the Deputy PM noted that authorities are currently reviewing applications from crypto firms. “[They] are expected to license around five strong crypto-asset trading platforms,” he said, as quoted by Vietnam Plus.
Vietnam has set tough entry bars for crypto platforms, such as mandating any exchange provider to hold at least 10 trillion dong, about $379 million, in capital.
Vietnam Wants to Learn From Experiences of Other Nations: Deputy CM
Phoc flagged that despite the nation’s approval for crypto trading, the sector carries potential risks. “Therefore, Vietnam wants to learn from the experiences of other countries,” he added.
Besides, Vietnam is planning to increase cooperation with tech groups in the crypto space to develop and operate a SAFE and effective trading market.
“This will be a professional ‘playground’ for investors and people, and at the same time a channel to attract financial resources, contributing to the country’s economic development,” he noted.
Tether expressed readiness to assist in developing a clear and transparent regulatory framework for Vietnam.
At the meeting, both parties discussed on system security and safety and policy formulation for crypto-asset trading. Additionally, they mentioned cooperation models and best practices for capital management through crypto exchanges.
