Da Nang City Signs MoU with Tether for Digital Innovation
The People’s Committee of Da Nang City, Vietnam, has signed a Memorandum of Understanding (MoU) with Tether, the issuer of the USDT stablecoin. The partnership aims to develop digital infrastructure and innovative governance in Da Nang. This initiative will position the city as a regional hub for technology and financial innovation.
The agreement focuses on joint research to create a framework for the responsible use of blockchain, digital assets, and peer-to-peer (P2P) systems in Da Nang’s operations. The goal is to adopt international best practices to ensure transparent and efficient digital governance solutions.
Scope of the Partnership
Tether will leverage its expertise to help shape digital asset regulations in Da Nang. This includes drafting proposals for blockchain deployment, tokenizing real-world assets, and creating regulatory sandbox environments.
The company will use insights from its global projects, such as the Plan ₿ initiative in Lugano, Switzerland, to build a policy framework aligned with international standards. The partnership also plans to develop educational programs in blockchain, P2P technology, and artificial intelligence. These programs will be delivered through Vietnamese universities and research institutions.
Training modules will enhance the local workforce’s ability to manage blockchain-based payment systems for government and private sectors. The aim is to promote financial inclusion and modernize regional transactional systems. This effort aligns with Tether’s global education efforts, including the launch of its Tether Edu initiative in early 2024.
Da Nang’s Vision as a FinTech Hub
Da Nang has ambitious digital goals. The city wants its digital economy to contribute 35–40% of its Gross Regional Domestic Product (GRDP) by 2030. The Vietnamese government plans to establish Da Nang and Ho Chi Minh City as International Financial Centers starting in 2025. These centers will focus on fintech experimentation and regulatory sandboxes.
Tether is actively expanding in Vietnam’s crypto market. The company supports national and local digital strategies worldwide. This new MoU follows past efforts like the Plan ₿ initiative in Lugano, where cryptocurrencies are used for municipal payments. Tether also signed a similar agreement with Zanzibar’s e-Government Authority earlier in 2025 to promote digital asset education.
Statements from Leadership
Paolo Ardoino, CEO of Tether, said, “Da Nang is emerging as the future of digital governance in Southeast Asia. The city has a clear vision of how technology can serve people and strengthen governance. We are excited to work with a forward-thinking city that reflects Tether’s commitment to building inclusive, efficient, and resilient digital ecosystems.”
Ho Ky Minh, Standing Vice Chairman of Da Nang People’s Committee, said, “With innovation and openness, Da Nang aims to become a trusted destination for global technology and financial corporations. This cooperation with Tether is a key step in our strategy to position Da Nang as a gateway for investment and financial innovation in Vietnam.”
The MoU supports Da Nang’s broader plans to attract global tech investment. It also aims to boost the city’s role in testing blockchain technology, fintech, and digital assets.
