Key Takeaways:
- Tether Expands in Vietnam: Tether has signed a memorandum of understanding with Da Nang City to promote blockchain adoption and digital governance initiatives.
- Focus on Digital Infrastructure: The partnership will develop frameworks for blockchain policy, asset tokenization, and transparent governance aligned with global standards.
- Education and Local Innovation: Tether and Da Nang will collaborate with universities to create training programs that strengthen Vietnam’s expertise in blockchain and artificial intelligence.
- Da Nang’s Web3 Vision: The initiative supports Da Nang’s ambition to become a leading smart city and a regional hub for blockchain-powered finance and innovation.
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Tether, the issuer of the world’s largest stablecoin USDT, has signed a memorandum of understanding with the People’s Committee of Da Nang City to promote blockchain-based digital infrastructure and modern governance models in one of Vietnam’s fastest-growing technology hubs, the company said on Wednesday.
The agreement aims to support the coastal Vietnamese city in building frameworks for blockchain regulation, real-world asset tokenization (RWAs), and experimentation with decentralized technologies. The collaboration will also include policy research, education initiatives, and digital payment system development across public and private sectors.
Tether said it would provide expertise based on global best practices and frameworks such as its Plan ₿ initiative, which supports digital transformation in public governance. The MoU also covers training programs with Vietnamese universities and institutions focused on blockchain, peer-to-peer technologies, and artificial intelligence.
Da Nang is emerging as the future of digital governance in Southeast Asia with a clear vision for how technology can serve people and strengthen governance,” said Tether CEO Paolo Ardoino.
With a spirit of innovation and openness, Da Nang aspires to establish itself as a trusted destination for global technology and financial corporations,” said Ho Ky Minh, Standing Vice Chairman of Da Nang’s People’s Committee.
The Importance of Da Nang: Vietnam’s Rising Tech and Financial Hub
The city sits on Vietnam’s central coast, connecting the country’s northern and southern regions while serving as a gateway to Southeast Asia. Its deep-water port, international airport, and well-developed logistics network have made it one of Vietnam’s most connected and business-friendly cities.
Positioned strategically, the city has become a focal point for national and international initiatives that advance technology, trade, and innovation. At the center of this transformation is the Da Nang Hi-Tech Park, a 1,100-hectare zone offering modern facilities, research space, and incentives for companies in semiconductors, microchips, artificial intelligence, and advanced electronics.
For global technology and manufacturing firms, the city offers a rare balance of lower operating costs, modern infrastructure, skilled talent, and strategic connectivity, making it an attractive base for regional operations that blend production with technology and data-driven services.
Da Nang: Toward a Web3-Powered Smart City
Beyond its industrial and logistical strengths, the city is looking to the future through bold digital initiatives. The city has been given authority under Vietnam’s Resolution 136 to test new ideas in science, technology, and finance, including blockchain, artificial intelligence, and Web3 applications. This flexibility has allowed the city to become one of the few places in the country experimenting with digital governance and decentralized systems.
In recent years, the city has signed several cooperation agreements with blockchain and fintech companies, signaling a shift from discussion to real implementation. The local government envisions the city as an emerging international financial center where digital assets, fintech, and blockchain services help power growth.
The city is steadily laying the foundations for its digital future, expanding smart city infrastructure with sensors, digital platforms, and connected systems to enhance public services.
The Hi-Tech Park continues to attract investment, including a new data center worth about 800 billion Vietnamese dong with capacity for 1,000 racks, and now hosts around 70 companies active in semiconductors, chip design, and artificial intelligence.
City officials aim for the digital economy to contribute 60% of Da Nang’s regional output by 2050, exceeding Vietnam’s national target.
Why the Tether–Da Nang Partnership Matters
Tether’s collaboration with Da Nang marks another step in its broader strategy to expand beyond stablecoin issuance into public infrastructure and digital policy development. By engaging directly with governments and cities, the company is positioning itself as a key player in shaping how blockchain technology integrates into real-world economies.
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