Stablecoins are slowly changing the way money works in Vietnam. The government doesn't see them as money, but they are helpful for people and businesses in the country's developing digital economy. Stablecoins are utilised in Vietnam for payments across borders, investments, and even as a way to hold value, especially when exchange rates are uncertain. This full tutorial for beginners on stablecoins talks about the most important changes in the law, the economic reasons why stablecoins are growing more popular in Vietnam, and how to use them safely.

Understanding Stablecoins and Their Role in Vietnam

You need to know what stablecoins are in order to comprehend how they work. A stablecoin is a type of cryptocurrency that is supposed to keep its value stable. Usually, they are tied to a commodity like gold or a fiat money like the US dollar to do this. Stablecoins like USDT, USDC, and BUSD are better for transactions, saving money, and keeping your money liquid than cryptocurrencies like Bitcoin and Ethereum, which are more volatile.

Stablecoins are now a link between traditional and digital finance in Vietnam. You can transmit money across borders with them, do peer-to-peer (P2P) transactions, and use them instead of the Vietnamese Dong (VND) when inflation is making the local currency weak. Many Vietnamese people view these digital assets as a form of modern "digital dollars" that are valuable, easy to get, and can be utilised in other countries.

The Rise of Stablecoins in Vietnam

There are a lot of good reasons why Vietnam is increasingly adopting stablecoins.

First of all, remittances are quite important. Stablecoins are a better way to move money than earlier systems like SWIFT or Western Union because they cost less and work faster. This is why Vietnam gets billions of dollars in remittances every year. You can send stablecoins in a few minutes and pay a lot less than normal transfers, which might take days and cost 5% to 7% in fees. Surveys show that stablecoins like USDT are used to send money to Vietnam from other nations almost 7.8% of the time.

Second, stablecoins have aided Vietnam's fast-growing e-commerce economy, which is driven by small and medium-sized firms, with international trading. A lot of small and medium-sized businesses (MSMEs) pay overseas suppliers with USDT or USDC to avoid expensive conversion fees and long wait periods at banks. In at instance, a Vietnamese seller who buys products from China can pay with stablecoin virtually right away and at a reasonable price, which makes business easier.

Third, a lot of Vietnamese people are starting to use stablecoins to keep their money safe from inflation. People in the neighbourhood used to buy actual gold or US dollars as prices went up or the dollar got weaker. Stablecoins are now digital alternatives since they are easy to find online and offer stability and liquidity.

Stablecoins are also very significant for bitcoin investors in the region since they utilise them to keep their money safe or to protect themselves from market swings. Many traders don't change their money back to VND after trading; instead, they retain it in USDT in case greater chances come up.

Popular Stablecoins and Platforms in Vietnam

Binance USD (BUSD), USD Coin (USDC), and Tether (USDT) are some of the most popular stablecoins in Vietnam. USDT is still the most popular because it's easy to buy and sell on exchanges. On the other hand, USDC is better for people who want to obey the rules and be honest.

People commonly use Binance, which lets people exchange VND and Vietnamese language pairings, or Remitano, a regional P2P platform that safeguards fiat-to-crypto transactions using escrow, to change VND into stablecoins. When picking a platform, consumers should make sure that it has verified merchants and sufficient security features.

A freelance designer in Ho Chi Minh City who works for clients from other countries might choose to use Binance P2P to get paid in USDT. They might then change some of it to VND for daily costs and put the remainder in a hardware wallet for later.

Also Read: How Vietnamese Freelancers Can Receive USD Payments via Stablecoins

Navigating the Regulatory Landscape

Vietnam is still concerned about cryptocurrencies, although they are receptive to them. You can't use stablecoins to buy stuff because the government doesn't let people use cryptocurrency as money right now. You can own and trade stablecoins, though.

Vietnam's cryptocurrency economy changed in 2025 because of two big legislative changes. The Digital Technology Industry Law, which will go into force in 2026, does not include fiat-backed stablecoins. However, it does formally recognise digital assets like Bitcoin and Ethereum. Resolution 05/2025, which is a five-year trial program, specifies that Vietnam can't make stablecoins backed by fiat money, but it can make crypto assets as long as they follow specific standards. This deal says that the country can only issue tokens that are backed by actual assets, not money.

Vietnam also created a licensing scheme for Crypto Asset Service Providers (CASPs). A CASP must have at least 10 trillion VND, or roughly USD 379 million, to receive a licence. Limiting foreign ownership to 49% shows that local control is very important. These laws are meant to make the cryptocurrency sector more official, cut down on unlawful use, and boost tax collection by finding a balance between risk and innovation.

How to Use Stablecoins Safely in Vietnam

To properly utilise stablecoins, beginners need to learn about the numerous platforms, security measures, and restrictions.

• Choose exchanges and wallets that you can trust: Put your money in secure digital wallets and trade on well-known platforms like Remitano or Binance. Ledger and Trezor are better for long-term storage, whereas Trust Wallet and MetaMask are better for tiny transactions.
• Using complicated passwords, keeping your recovery phrases in many safe places offline, and turning on two-factor authentication (2FA) with an authenticator software are all ways to make your security stronger.
• Don't be fooled by fraudsters. Be aware of phoney investment offers and phishing URLs. Platforms that you can trust will never ask for your private keys.
• Pay your taxes: If you make money from trading or investing in stablecoins in Vietnam, you have to pay taxes on that money. To stay in compliance, maintain a track of all your transactions.

Role of TransFi: Simplifying Stablecoin Access

 TransFi makes it easy and lawful for consumers and businesses to transfer between cash and bitcoin.   TransFi is a worldwide platform for buying and selling cryptocurrencies. It provides clear prices, follows the rules very well, and lets you change VND into stablecoins like USDT and USDC right away.   It makes it easier for Vietnamese people to safely get to digital assets, which makes it easier to send and receive payments and make transactions across borders.

Risks and Considerations

Stablecoins are stable, but that doesn't mean they are safe. There are concerns about regulations that aren't clear, being exposed to other parties, and the chance of de-pegging events like algorithmic stablecoin failures. To lower the risks:

• Invest in a bunch of different stablecoins.
• Don't trust high-yield schemes that guarantee returns that don't make sense.
• Using smart contracts on decentralised finance (DeFi) platforms comes with several concerns.

Also Read: Vietnam’s Top Payment Methods (MoMo, ZaloPay, VietQR) Explained

Future Outlook: Stablecoins and Vietnam’s Digital Economy

Southeast Asia's digital finance hub is quickly moving to Vietnam. The fact that the government wants to engage with multinational companies like Tether demonstrates that it is open to integrating stablecoins into existing financial systems in the future. The major goal right now is to make Central Bank Digital Currencies (CBDCs). In the future, though, adjustments may let regulated private stablecoins operate alongside government-backed digital currency.

Vietnam is likely to adopt a balanced regulatory regime that protects users and keeps the economy stable while also encouraging innovation. This strategy will be based on what leaders in the region, including Singapore and Thailand, have done. In the end, this could make it easier for stablecoins to serve not just traders, but also those who send money, consumers, and exporters.

Conclusion

Stablecoins are a big transformation in Vietnam's digital finance world. They are good for saving money, trading online, and sending money home since they combine the best parts of cryptocurrencies and fiat. People are looking for faster, cheaper, and more open ways to handle their money; therefore, they are growing more and more popular, even though there are rules that limit them. It's very vital for newcomers to know the hazards, use safe platforms, and keep up with changes in the rules. Vietnam is always making progress with its rules; thus, stablecoins may soon transition from being used unofficially to being officially part of the country's digital economy.

FAQs:

1. Is it possible to utilise USDT in Vietnam?

Yes. You can still own and trade USDT, but you can't use it to buy items in the US.

2. What is the safest way to use stablecoins?

To stay safe, use hardware wallets, verified exchanges, and two-factor authentication (2FA) for all of your accounts.

3. How do I sell VND for stablecoins?

You may change VND into stablecoins at a number of venues, such as Binance, Remitano, and regulated services like TransFi.

4. Do you have to pay taxes on the money you make from stablecoins?

Yes, that's correct. You have to tell the IRS about any money you make from trading or investing in stablecoins.

5. What are the finest stablecoins in Vietnam for folks who have never used them before?

The Vietnamese market's most popular and trustworthy stablecoins are USDT, USDC, and BUSD