Vietnam is not known as a crypto-friendly jurisdiction but on Thursday, its leaders met with executives from stablecoin giant Tether to glean advice on building out a vibrant crypto market for the country, according to Vietnam’s government newspaper Báo Chính Phủ.

Just last month, Vietnam passed landmark legislation paving the way for licensed cryptocurrency exchanges. Resolution 05/2025/NQ-CP starts the clock on a 5-year pilot program to test out the viability of a government crypto exchange licensing regime.

Vietnam has seen its gross domestic product (GDP) climb to nearly $500 billion and has one of the fastest growing economies in the world. The Vietnamese government is hoping to add fuel to that fire by granting licenses to five crypto exchanges and leaning on Tether for general market, operational, and regulatory advice.

“Tether is committed to sharing global expertise and supporting Vietnam’s journey toward innovation and financial inclusion,” said Marco Dal Lago, vice president of global expansion and strategic partnerships at Tether. “Grateful for the opportunity to meet Deputy Prime Minister Hồ Đức Phớc and discuss Vietnam’s bold vision for a regulated digital-asset market.”

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