This post was originally published on Coinspeaker
Key NotesDa Nang approved a 36-month pilot allowing USDT-to-VND conversions through Basal Pay under its International Financial Center sandbox authority.Vietnam’s Resolution 05/2025/NQ-CP bans fiat-backed stablecoins nationally, while Resolution 222/2025/QH15 grants Da Nang exemptions for pilot programs.The partnership will implement Tether’s Plan ₿ model, previously deployed in Lugano for municipal cryptocurrency payments and merchant integration.
Tether and the People’s Committee of Da Nang City signed a Memorandum of Understanding on Nov. 5 to advance blockchain technology and digital infrastructure in the Vietnamese municipality. The agreement focuses on policy development, educational programs, and peer-to-peer technology integration.
The partnership will support Da Nang in proposing policies for blockchain technology, digital assets, and tokenization of real-world assets, according to the recent announcement. Tether will share expertise from its Plan ₿ initiative and collaborate with Vietnamese universities to develop educational programs on blockchain and artificial intelligence. The company will also provide training for building blockchain-based payment systems across public and private sectors.
Da Nang’s Sandbox Authority
Da Nang operates under a special regulatory authority granted by Resolution 222/2025/QH15, which established an International Financial Center sandbox for piloting technologies not yet regulated nationally. The city has already issued Decision No. 1181 approving Da Nang’s municipal
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