Quick Breakdown
- Tether targets Vietnam for strategic partnerships as the government pilots a regulated crypto-asset market.
- Five licensed exchanges to operate under the new framework aimed at attracting foreign investment.
- The move could shift $100B in crypto trading from offshore platforms to Vietnam’s formal financial system.
Tether Limited Inc. is seeking strategic partnerships in Vietnam to help build the country’s emerging crypto-asset market, amid new government reforms opening the door for regulated digital trading.
Marco Dal Lago, Tether’s vice president of global expansion and strategic partnerships, announced during a meeting with Deputy Prime Minister Ho Duc Phoc on Thursday, describing Vietnam as a “potential and important market” for the company’s next phase of growth.
Dal Lago said Tether is ready to share its global experience in developing legal and operational frameworks for crypto transactions, an effort he said could attract foreign investment and drive economic growth.
Vietnam opens five-year pilot for crypto trading
Vietnam’s government recently approved a five-year pilot of the crypto-asset market under Resolution 05, allowing up to five licensed exchanges to operate before formal legislation is introduced.
Deputy Prime Minister Phoc acknowledged the sector’s risks but emphasized that Vietnam aims to learn from other nations’ regulatory models to ensure market safety. “This will be a professional playground for investors and a channel to attract financial resources, contributing to economic development.” he said.
At the meeting, officials discussed security, policy, and system safeguards as part of Vietnam’s strategy to collaborate with credible global players like Tether. The two sides also explored mechanisms for monitoring crypto cash flow and establishing transparent operations.
Vietnam’s crypto push gains momentum
Deputy Finance Minister Nguyen Duc Chi confirmed that no firms have yet been approved to join the pilot, though several are preparing applications. He added that the first exchanges could be licensed before 2026.
Vietnam legalized digital assets in July 2025 and is now transitioning from informal, offshore crypto activity to regulated domestic trading. Analysts estimate that more than 17 million Vietnamese already trade cryptocurrencies, with an annual transaction volume exceeding $100 billion, mostly through platforms like Binance and Bybit.
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