Tether Partners with Da Nang City: A Milestone for Digital Governance and Blockchain Adoption in Vietnam

November 5, 2025 marks a significant milestone in Vietnam’s digital transformation journey, as Tether - the world’s largest stablecoin issuer - officially signed a Memorandum of Understanding (MoU) with the People’s Committee of Da Nang City.

This partnership aims to enhance digital infrastructure, promote blockchain-powered governance models and pave the way for transparent, innovative and sustainable financial initiatives in one of Vietnam’s most forward-thinking cities.

1. Shared Vision: Blockchain for Modern Public Governance

Under the MoU, Tether and Da Nang City will jointly research, pilot and implement blockchain, digital asset and peer-to-peer technologies across public administration and digital governance.

The initiative seeks to leverage distributed ledger technology (DLT) to improve transparency, efficiency and data traceability within public financial management and citizen-facing services.

Tether also plans to support the development of regulatory sandboxes for blockchain projects and real-world asset (RWA) tokenization, allowing Da Nang to adopt global best practices.

This approach mirrors the success of international frameworks such as the Plan B initiative in Europe, helping create a comprehensive, safe and forward-looking policy environment for digital innovation.

2. Building Local Capacity Through Education and Training

Another key focus of the agreement is education and workforce development.

Tether and Da Nang City will collaborate with universities and research institutions across Vietnam to introduce academic programs, workshops and certification courses in blockchain, artificial intelligence (AI) and financial technology (fintech).

These initiatives aim to equip local professionals with the skills needed to design and manage blockchain-based payment and data systems in both the public and private sectors.

By doing so, the partnership promotes financial inclusion, strengthens digital literacy and contributes to the modernization of Vietnam’s digital economy.

3. Tether: Bridging Traditional Finance and Decentralized Innovation

According to Paolo Ardoino, CEO of Tether, “Da Nang is emerging as a model for digital governance in Southeast Asia, with a clear vision of how technology can serve people and strengthen institutions. We are proud to collaborate with such a forward-looking city that shares Tether’s mission of building inclusive, efficient, and resilient digital ecosystems.”

Globally, Tether is not only the issuer of USDT - the world’s most widely used stablecoin - but also an active investor in infrastructure, renewable energy, and digital education.

This collaboration reflects Tether’s long-term strategy: transitioning from a token issuer to a global enabler of digital ecosystems, where blockchain serves as the foundation for governance, finance, and innovation.

4. Da Nang: Vietnam’s Emerging Technology Hub

Mr. Ho Ky Minh, Standing Vice Chairman of the Da Nang People’s Committee, shared: “With an open and innovative mindset, Da Nang aims to become a trusted destination for global technology and financial corporations. The partnership with Tether marks a concrete step toward positioning Da Nang as a gateway for investment and financial innovation in Vietnam.”

Over the past few years, Da Nang has been recognized as Vietnam’s leading smart city, pioneering initiatives such as digital government platforms, urban data centers, and real-time citizen feedback systems.

By joining forces with a global blockchain leader like Tether, Da Nang is poised to strengthen its technological capabilities, attract international investment and expand its influence in fintech, open data, and digital infrastructure development.

5. Insights: Vietnam Enters the “Golden Era” of Blockchain Adoption

Tether’s decision to partner with Da Nang sends a strong signal for Vietnam’s blockchain ecosystem.

While the country already ranks among the top nations for cryptocurrency adoption, the application of blockchain in public governance and infrastructure remains in its early stages.

If executed effectively, this collaboration could serve as a model for other Vietnamese cities, showing how blockchain can extend beyond financial use cases to enhance transparency, streamline administrative processes and modernize urban management.

The partnership also positions Vietnam to take a leading role in Southeast Asia, as more governments explore blockchain-based solutions for citizen data management, land registration, public budgeting and digital bond issuance.

6. Long-Term Impact: Building Trust and Setting Global Standards

The Tether - Da Nang MoU is seen as a strategic first step toward aligning Vietnam with international standards for digital asset management and blockchain regulation.

Beyond technology, the collaboration emphasizes trust, transparency and security - essential foundations for large-scale blockchain adoption in both public and private sectors.

In the long run, this partnership could open new pathways for decentralized finance (DeFi), real-world asset tokenization (RWA), and cross-border payments, fostering a more inclusive and diversified digital economy while attracting global capital and expertise to Vietnam.

7. Conclusion: A Strategic Leap for Vietnam’s Digital Future

The partnership between Tether and Da Nang City represents more than just an MoU - it is a symbolic and strategic milestone affirming Vietnam’s commitment to digital innovation and transparent governance.

With its progressive policies, skilled workforce, and expanding digital infrastructure, Da Nang is positioning itself as a regional hub for blockchain experimentation and fintech growth.

By collaborating with Tether - a global pioneer in the digital asset industry - the city gains not only international expertise and technical support but also the opportunity to set new benchmarks for digital governance.

This partnership highlights Vietnam’s readiness to embrace the next phase of digital transformation, moving toward a transparent, innovative and globally connected digital economy.