Vietnam is pioneering a strategic alliance aimed at national-level blockchain adoption. Techsmart Telecom, the Institute of Information Technology and CyberSecurity (IITCS), Venom Foundation, and GS Fund Abu Dhabi have formalized a targeted partnership to design and deploy an integrated digital ecosystem.
The heart of this partnership lies in the fusion of infrastructure, blockchain network implementation, legal oversight, and talent development. Techsmart Telecom will leverage its national connectivity to underpin a new data center and digital currency network.This move aligns with broader national ambitions: Vietnam's Digital Infrastructure Strategy by 2025, towards 2030 aims for universal fiber, full 5G, and hyperscale data center capabilities.
Venom Foundation will implement its Layer-0 blockchain protocol, designed for institutional-grade applications. The network already operationally supports USD-backed stablecoins, on-chain KYC/AML, ISO 20022 messaging, and tokenisation frameworks underpinned by pilots in the Philippines. CEO Christopher Louis Tsu frames the project as a showcase for tokenizing both financial and real-world assets, delivering efficient cross-border services.
Regulatory coherence is a central driver. In March 2025, Prime Minister directives mandated the Ministry of Finance and State Bank of Vietnam to propose updated frameworks by May 2025. Proposals include a Draft DTI Law to define digital assets, a sandbox for controlled experimentation, and a Crypto Pilot Resolution to regulate issuance, trading, and custody until at least 2027.
Vietnam's crypto landscape remains in transition. An estimated 17 million citizens own digital assets worth over $100 billion, positioning the country fifth globally in interest and third in international trading engagement. However, ambiguity around exchange licensing, asset categorization, and consumer protection has resulted in Vietnam being categorized as FATF "gray list" — a status that underscores the urgency of regulatory clarity.
Execution will begin with a 12-month Phase 1 roadmap focused on legal groundwork, market analysis, and data center planning — areas that have posed bottlenecks in past blockchain initiatives. By aligning technology deployment with talent creation, this effort could accelerate Vietnam’s leap into a sovereign digital infrastructure era.
Subsequent phases envision blockchain-enabled digital payments, decreasing cash dependency, and elevating cybersecurity standards using distributed ledger technologies. IITCS will ensure compliance and lead educational initiatives aimed at both public and private sectors. Success will hinge on multi-agency collaboration and the agility to adapt pilot learnings into scalable policy frameworks.
Should this MoU translate into concrete progress, Vietnam may emerge as a regional exemplar in embedding blockchain within national infrastructure.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.