Deputy Prime Minister Ho Duc Phoc received leaders of Tether Group

Photo caption — Deputy Prime Minister Ho Duc Phoc received Vice President in charge of Development and Global Partnerships of Tether Group Marco Dal Lago. Photo: An Dang/VNA

Tether Group operates in the crypto-asset space - one of the most widely used stablecoin issuers in the world with a total reserve asset value of more than $177 billion, of which about $120 billion is US Treasury bonds.

At the meeting, Deputy Prime Minister Ho Duc Phoc said: Recently, the Vietnamese Government issued Resolution No. 05/2025/NQ-CP on piloting the crypto-asset market in Vietnam; the pilot period is 5 years. Currently, the authorities are in the process of reviewing and planning to grant operating licenses to about 5 crypto-asset trading floors, which are strong, reputable enterprises with guaranteed financial resources. After the pilot implementation and stable operation, laws will be issued for implementation.

According to Deputy Prime Minister Ho Duc Phoc, crypto-asset trading is a very new issue with potential risks. Therefore, Vietnam really wants to learn from the experiences of other countries to develop the crypto-asset market, not only creating a professional "playground" for investors and people, but also a channel to attract financial resources, contributing to promoting the country's economic development.

The Deputy Prime Minister said that Vietnam is an economy with one of the highest growth rates in the world. This year's growth is expected to be about 8%; import and export is about 911 billion USD... To meet the development needs in the coming time, Vietnam needs many resources to develop infrastructure, build highways, high-speed railways, airports, large seaports, develop an international financial center... Thereby, we really hope to share experiences in applying science and technology in managing, operating, and developing safe and effective crypto-asset trading floors.

Deputy Prime Minister Ho Duc Phoc also suggested that Tether Group could study opportunities and cooperate with a large Vietnamese enterprise to develop a crypto-asset exchange.

Thanking Deputy Prime Minister Ho Duc Phoc for receiving and working with the delegation, Mr. Marco Dal Lago, Vice President of Development and Global Partnerships of Tether Group, expressed that he was "very jealous" of Vietnam's economic growth rate in recent times. From the rich reality of operating in the field of crypto-asset trading in many countries, Mr. Marco Dal Lago emphasized that Vietnam is a very potential and important market for Tether in this field.

The Vice President of Tether Group believes that with modern technology, reasonable costs and successful operating experience, the Group can cooperate with Vietnam - a country with a young population, potential market, abundant remittances... to develop and handle transactions well in this field.

Tether Group wishes to cooperate, support, and share experiences with Vietnamese partners to develop the crypto-asset trading market sustainably, as well as bring investment opportunities from the Group to Vietnam. Tether is also willing to share experiences in building a clear and transparent legal framework for transactions, to bring profits that are located outside the territory to Vietnam, supporting the growth of the Vietnamese economy in the future.

Deputy Prime Minister Ho Duc Phoc and Vice President and members of the Tether delegation discussed issues related to: Ensuring system security and safety; developing policies on crypto-asset transactions; forms, models, and cooperation mechanisms that Tether can deploy with partners; experience in managing cash flow through crypto-asset exchanges...