On August 26, 2025, the Da Nang People’s Committee approved Basal Pay, the country’s first blockchain-based payment solution for international visitors, to enter the FinTech Sandbox program. This innovative project allows instant conversion between cryptocurrency and fiat money faster and up to 30% cheaper than traditional methods while meeting global standards on AML/CFT compliance and the FATF Travel Rule.
Developed by AlphaTrue Solutions, Basal Pay aims to improve the payment experience for tourists in Da Nang, while also helping Vietnam strengthen financial transparency and move toward exiting the FATF “grey list.”
Tether Joins Forces with Da Nang
Just two days later, during Da Nang Finance & Technology Week 2025, the city signed a strategic MoU with Tether Operations, the world’s largest digital asset issuer. The partnership will:
- Boost smart city governance with blockchain solutions
- Develop new decentralized finance (DeFi) models
- Expand access to digital payments for citizens and businesses
- Train local talent in blockchain, AI, and peer-to-peer technologies
According to Paolo Ardoino, CEO of Tether:
“Da Nang shows clear vision and determination to become a global financial and technology hub. We are proud to share our expertise to build a transparent and sustainable digital ecosystem.”
Why Da Nang?
With nearly 11 million visitors and 18 trillion VND in tourism revenue in just the first seven months of 2025, Da Nang is rapidly becoming a hotspot for FinTech innovation in Vietnam. By combining Basal Pay’s blockchain payment system with Tether’s international expertise, the city is aligning local growth with Vietnam’s national strategy to build a modern, transparent, and globally connected financial center.
Da Nang is no longer just a top tourism destination it is on track to become Vietnam’s leading hub for digital finance and blockchain innovation.
