Tether Expands Horizons with Vietnam's Emerging Digital Asset Market

Tether, the company behind USDT — the world’s largest stablecoin — is accelerating its global expansion by targeting Vietnam as a pivotal market for digital asset growth. In collaboration with Vietnamese institutions, Tether aims to leverage its expertise to support the burgeoning digital economy. This initiative coincides with Vietnam’s recent approval of a five-year pilot program for cryptocurrency exchanges, positioning the nation as an emerging player in the blockchain and crypto space.

Vietnam: A Strategic Focus in Tether's Global Expansion

Vietnam’s potential for digital asset development was underscored during Tether’s Vice President of Global Expansion and Strategic Partnerships, Marco Dal Lago’s recent meeting with Deputy Prime Minister Ho Duc Phuc. As reported by Crypto Times on October 10, Dal Lago emphasized Vietnam’s importance as a “promising and essential market” for blockchain and financial innovation.

Dal Lago stated, “Tether is ready to share its substantial experience in crafting financial ecosystems that promote transparent regulatory frameworks and attract investment flows. Such initiatives can significantly contribute to Vietnam’s economic advancement.”

This perspective aligns with Tether’s broader strategy to embed itself in high-growth regions, supporting technological development while ensuring regulatory collaboration tailored to emerging markets.

Vietnam’s Pragmatic Approach to Regulating Digital Assets

The Vietnamese government's adoption of Resolution No. 5 serves as a bold stride toward formalizing the crypto sector. The resolution permits up to five cryptocurrency exchanges to operate on a pilot basis, aiming to gather practical operational insights and prepare for comprehensive legislation.

Deputy Prime Minister Ho Duc Phuc addressed both the opportunities and challenges posed by digital assets, describing the industry as “highly novel, yet inherently risky.” He stressed the importance of fostering an organized and professional environment for investors and the general public while transforming digital asset technology into a magnet for financial capital.

Phuc outlined the government’s commitment to working alongside global tech leaders to ensure safety, transparency, and credibility within the sector. As Vietnam sets the stage for robust digital asset structures, the pilot program may well serve as a blueprint for neighboring countries aiming to balance innovation with regulation.

Global Snapshot: Tether’s Expanding Influence

Tether’s global impact continues to grow across blockchain ecosystems and asset classes. One of the company’s recent successes involves Kraken Exchange enabling USDT trading on the Aptos blockchain. Since its introduction in October 2024, USDT's supply on Aptos has skyrocketed eightfold, now making up 75% of the stablecoins in circulation on Aptos.

In another milestone, Tether Gold (XAUt), a stablecoin backed by physical gold, has surged in popularity. XAUt overpassed a significant $1.5 billion market capitalization — more than doubling its previous valuation of $650 million in 2024. This growth underscores increasing investor preference for tokenized physical assets, combining traditional security with blockchain-based convenience.

Vietnam’s Emerging Role as a Digital Asset Hub

With Tether’s technical expertise and Vietnam’s experimental regulatory framework now converging, the country could soon become a key driver in Asia’s evolving digital asset landscape. This collaboration may pave the way for Vietnam to establish itself not only as a testing ground for innovative financial products but potentially as a regional hub for the crypto and blockchain ecosystem.

Tether’s presence and initiatives signal a shift in the stablecoin market, taking it beyond transactional use into more integrated roles in financial infrastructure. For Vietnam, this partnership provides a unique opportunity to position itself as a pioneer of safe, transparent, and forward-thinking digital asset adoption — a move that may reshape the regional market dynamics for years to come.