Stablecoin issuer Tether has signed an MoU with Da Nang City in Vietnam, as per an official press release.
The agreement is focused on advancing digital asset infrastructure in one of South Asia’s major port cities and creating a framework in which Tether is to advise Da Nang City on the best way to approach blockchain, RWA tokenization, and other relevant fields in digital assets.
The agreement was specifically signed with the People’s Committee of Da Nang City with the Standing Vice Chairman saying in the official statement:
“With a spirit of innovation and openness, Da Nang aspires to establish itself as a trusted destination for global technology and financial corporations. The cooperation with Tether is a concrete step in the city’s development strategy – positioning Da Nang as a gateway for investment and financial innovation in Vietnam.”
The update comes a month after Deputy Finance Minister Nguyen Duc Chi said at a press conference that the Finance Ministry was still waiting on proposals from cryptocurrency firms interested in entering the Vietnamese market as part of the country’s newly rolled out 5-year pilot program.