Tether, the company behind the world’s largest stablecoin USDT, is expanding its global footprint. The firm aims to partner with Vietnamese entities to develop the country’s emerging crypto-asset market. This move comes after Vietnam gave the green light to a five-year trial program that will test and regulate crypto trading platforms.
Marco Dal Lago, Vice President of Global Expansion and Strategic Partnerships at Tether, highlighted Vietnam’s potential during a meeting with Deputy Prime Minister Ho Duc Phoc. He said the country is an “important and promising market” for digital asset expansion. He also said that Tether is ready to share its experience in building clear rules and financial systems that can attract investors and help boost Vietnam’s economy.
Vietnam’s strategic crypto plan
The Vietnamese government recently rolled out Resolution 5, which allows up to five licensed crypto exchanges to run on a trial basis. The goal is to gather real-world experience before creating official laws for the crypto market.
Deputy Prime Minister Phoc stressed the need for careful regulation. “Crypto-asset trading is a very new issue with potential risks,” he said. “This will be a professional ‘playground’ for investors and people, and at the same time a channel to attract financial resources.” He added that Vietnam will continue cooperating with “large, reputable, and highly reliable technology groups” to ensure a safe and transparent trading environment.
Tether’s expanding footprint
Tether is also growing quickly around the world. Recently, Aptos announced that Kraken now supports USDT on its blockchain. With its launch in October 2024, the amount of USDT on the Aptos network has skyrocketed by eight times, now accounting for nearly 75% of all stablecoins available.
Additionally, Tether Gold (XAUt) has surpassed a market value of over $1.5 billion, as reported by Katusa Research. The gold-backed token has jumped from about $650 million in 2024, showing that more investors are turning to digital assets backed by real-world value like gold.
Tether’s push into Vietnam shows stablecoins are eyeing real growth as the country moves from watching crypto to building it.
Also Read: Central Banks Could Boost BTC and Gold Holdings by 2030: Deutsche Bank
