Đà Nẵng Proposes USDT Payment Pilot in Latest Fintech Initiative

The city of Đà Nẵng has received a proposal to pilot payments using USDT, as revealed by Mr. Võ Đức Anh, Deputy Director of the Center for Innovation and Startup Development - Đà Nẵng Department of Science and Technology, during the Danang Fintech Summit. Specifically, the city has considered certain controlled testing (sandbox) proposals from tech startups, including payments via USDT. International visitors will be able to pay through QR code digital wallets with USDT, while Vietnamese stores will continue to accept Vietnamese dong (VND). The entire conversion process will be managed by an intermediary system. The proposal is currently under review and assessment by various departments in Đà Nẵng. Mr. Đức Anh also mentioned Resolution 136 from 2024 by the National Assembly, which grants Đà Nẵng the authority to implement sandbox mechanisms. The city has proactively codified this policy into a resolution by the People's Council. All procedures, forms, and processes for applying to the sandbox mechanism are now clearly established by Đà Nẵng. The application process resembles regular administrative procedures, similar to obtaining a birth certificate or driver’s license, with an estimated resolution time of approximately 2.5 months.