Tether Limited Inc., the issuer behind the widely used stablecoin USDT, is seeking to establish strategic partnerships in Vietnam to support the country’s ambitions in developing a regulated crypto-asset market.
During a recent meeting with Deputy Prime Minister Ho Duc Phoc, Tether’s Vice President of Global Expansion and Strategic Partnerships, Marco Dal Lago, expressed strong interest in the Vietnamese market, calling it a “significant and promising” region for crypto growth.
Dal Lago noted Tether’s readiness to collaborate with Vietnamese institutions by sharing its global experience in building legal frameworks and promoting secure crypto transactions.
He emphasized the potential for blockchain-based financial tools to contribute to Vietnam’s economic modernization and resource mobilization.
The engagement comes on the heels of the Vietnamese government’s issuance of Resolution 5, a move that enables a five-year pilot program for crypto-asset trading.
Under the initiative, up to five crypto exchanges will be licensed to operate, setting the stage for a full legislative rollout once the pilot concludes.
Deputy Prime Minister Phoc acknowledged the dual nature of crypto assets, innovation, and risk, and reiterated the government’s intent to learn from established players in the industry.
He welcomed cooperation with reputable global tech firms, including Tether, to develop a secure and efficient trading environment.
“This pilot will serve as a professional platform for investors and a strategic channel to attract financial resources for national development,” said Phoc.
Discussions at the meeting also covered key concerns such as system security, regulatory policies, transaction safety, and Tether’s experience in managing crypto exchange operations and liquidity flow.
The potential partnership signals a growing openness in Vietnam’s policy landscape as the country cautiously embraces digital finance innovations while ensuring robust oversight and consumer protection.