Tether, which claims to be one of largest companies in the digital asset industry, announced the signing of an MoU with the People’s Committee of Da Nang City in order to enable the development of digital infrastructure and various governance models in one of Vietnam’s municipalities.
Via this MoU, Tether and Da Nang City will aim to research and create a mechanism to support the integration of blockchain, digital assets, and peer-to-peer technologies.
The initiative will reportedly aim to leverage global best practices to effectively enable transparent, efficient, resilient digital governance solutions.
Additionally, Tether will support Da Nang City in drafting appropriate policies for blockchain tech, digital assets, sandbox experimentation, and the tokenization of real-world assets (RWAs).
Furthermore, Tether will also expertise drawn from its experience to assist the city in creating a framework aligned or consistent with globally accepted standards like those implemented as part of the Plan ₿ initiative.
This is said to be a key step toward building a policy framework that aligns with global practices, while also aim to ensure safety and transparency in digital asset governance in Da Nang City.
Notably, Tether and Da Nang City will work cooperatively in order to develop and implement various educational initiatives on blockchain, P2P technologies, and AI with assistance from established universities and research institutions across Vietnam.
Training programs are to be designed to boost local capacity in building and managing blockchain-powered payment systems across the public and private sectors, with the stated aim of increasing financial inclusion and digitalizing transactional ecosystems.
Paolo Ardoino, CEO of Tether, commented that Da Nang is emerging as the focal point of digital governance in Southeast Asia with a vision for how tech may serve individuals and improve governance.
Mr. Ho Ky Minh, Standing Vice Chairman of Da Nang People’s Committee, said that the cooperation with Tether is a key step in the city’s development strategy – positioning Da Nang as a gateway or conduit for investment and financial tech advancements in Vietnam.
This MoU is said to be consistent with Tether’s stated aim to connect traditional finance with decentralized finance, expanding access to financial opportunities while also ensuring transparency and supporting sustainable growth.
With a solid digital infrastructure, suitable geographic position, and proper regulatory framework, the MoU builds on Da Nang’s strategy to attract tech investment and enhance its position as a hub for the application of blockchain technology, fintech, digital assets.