HANOI – Tether, one of the world’s most prominent stablecoin issuers, is actively looking to collaborate with Vietnamese enterprises to develop a sustainable crypto asset trading market in the Southeast Asian nation.
The aspiration was voiced during a meeting in Hanoi on October 9, 2025, between Deputy Prime Minister of Vietnam Ho Duc Phoc and Marco Dal Lago, Tether’s Vice President for Global Development and Partnerships.
Tether Eyes a “Very Potential” Vietnamese Market
During the working session, Tether expressed a desire to cooperate, share its extensive experience, and provide support to Vietnamese partners. Marco Dal Lago emphasized that Vietnam is a “very potential and important market” for Tether, citing its young population, market potential, and substantial remittance volumes.
Tether operates in the crypto asset sector and is one of the most widely used stablecoin issuers globally, managing a total reserve asset value of over $177 billion, including approximately $120 billion in US Treasury bonds.
Dal Lago also expressed his eagerness to see Vietnam’s continued economic success, noting he was “very jealous” of the country’s high growth rate in recent years.
Vietnam’s Pilot Program and Need for Global Expertise
Deputy Prime Minister Ho Duc Phoc shared that the Vietnamese government recently issued Resolution No. 05/2025/NQ-CP to implement a five-year pilot program for the crypto asset market.
Key details about Vietnam’s market development plan:
- The relevant authorities are currently reviewing and are expected to license around five strong, reputable crypto asset exchanges with guaranteed financial resources for the pilot phase.
- After the successful and stable implementation of the pilot, a formal law will be enacted to govern the market.
Acknowledging that crypto asset trading is a “very new issue” with inherent risks, the Deputy Prime Minister stressed Vietnam’s commitment to learning from the experience of pioneering nations. This is not only to create a professional “playground” for investors and citizens but also to establish a channel for attracting financial resources to boost national economic growth.
The Deputy Prime Minister noted Vietnam’s position as one of the world’s fastest-growing economies, with an estimated growth of over 8% this year and projected exports/imports of about $911 billion. To meet future development needs, the country requires significant resources for infrastructure projects like expressways, high-speed railways, airports, large seaports, and the establishment of an international financial center.
Opportunities for Collaboration
The Vietnamese Deputy Prime Minister encouraged Tether to explore opportunities to collaborate with a major Vietnamese enterprise to develop a crypto asset exchange. He also emphasized the government’s need for expertise in applying science and technology to manage, operate, and develop a safe and effective crypto asset exchange.
Tether affirmed its readiness to share its experience in building a clear and transparent legal framework for transactions, which could help bring profits currently outside the country back to Vietnam, supporting its economic growth. Tether also hopes to bring investment opportunities from the group into Vietnam.
The two parties discussed critical issues, including:
- Ensuring system security and safety.
- Developing policies for crypto asset transactions.
- Potential forms, models, and mechanisms for Tether’s partnership with local entities.
- Experiences in managing fund flows through crypto asset exchanges.
Deputy Prime Minister Phoc thanked Tether for sharing its experiences and reiterated that the government always supports reputable, high-trust technology corporations investing in Vietnam to safely and effectively develop and operate the crypto asset trading market.
