Vietnamese people rank 2nd in the level of playing cryptocurrency, the world 'has caught wind'

The pilot project of converting crypto assets by Da Nang City is attracting much attention. Chairman of Kogi Technology Group, former Chairman of the Association of Vietnamese Entrepreneurs Abroad Peter Hong (Nguyen Hong Hue) said "the world has caught wind of it".

Mr. Peter Hong talks to the press in Da Nang City - Photo: BD

"Vietnam currently has the second largest number of cryptocurrency players in the world . Leading international technology corporations have "sniffed" this out. Only when there is profit have people continuously come to Da Nang recently" - Mr. Peter Hong told Tuoi Tre Online on the sidelines of the 2025 Vietnam Annual Financial Forum taking place in Da Nang City.

Da Nang is one step ahead for future finance

Talking about the current trend of crypto assets, Mr. Peter Hong said that the world is moving towards a time when everything is solved with just a phone.

Vietnam is also taking steps to pave the way for a future financial system that does not print cash or use cash in transactions.

Recently, Da Nang City became the first place in the country to pilot an asset encryption project. This information immediately attracted the attention of the world financial community.

Although still ahead, according to Mr. Peter Hong, this is a turning point in which Da Nang will be a model for the future. Da Nang has many advantages in terms of free trade zones, international financial centers, etc.

Danang Software Park No. 2 - where the pilot project to convert crypto assets is being implemented - Photo: BD

"Since Da Nang received information about an international financial center and most recently a free trade zone, a large number of the world's leading technology corporations have flocked here.

We highly appreciate Da Nang's ability, boldness and determination in piloting a controlled crypto asset conversion project. This city deserves to be chosen" - Mr. Peter Hong said.

Where will Danang be in the next 10 - 20 years?

Together with large corporations in the world promoting investment in the Da Nang International Financial Center, Mr. Peter Hong said he is raising the issue of the quantum bay program, preparing to invest in the Big data program for global asset management in Da Nang City.

"We are still asking the question of where Da Nang ranks compared to other Asian cities. We are committed that with the current bold steps of the government, if there is a quantum bay, a digital center for global asset management, Da Nang will be very different from now," said Mr. Peter Hong.

For more information about Da Nang becoming the first place in the country to pilot a controlled crypto asset conversion project, at a meeting with Da Nang leaders on the afternoon of August 28, Mr. Do Van Su - Deputy Director in charge of the Foreign Investment Department ( Ministry of Finance ), said that it was not by chance that this city was chosen.

Da Nang is planning a series of large-scale projects to create regional spillover - Photo: BD

According to Mr. Su, Da Nang's steps towards an international financial center are very different from other models where digital finance and green finance trends are being strongly set.

"Some units asked us why we agreed to let Da Nang pilot the first crypto asset conversion project in Vietnam. We replied that the regulations apply to the whole country, not just any locality. But Da Nang has gone ahead, boldly and proven many issues" - Mr. Su said.

On August 26, Vice Chairman of the People's Committee of Da Nang City Ho Quang Buu signed a decision approving a controlled, limited-term trial of a technological solution related to the conversion of crypto assets.

According to the decision, the controlled pilot project is Basal Pay software of Alphatrue Solutions Joint Stock Company (a newly established enterprise in Da Nang).

Basal Pay said it focuses on building a system that combines blockchain technology and traditional finance to support the exchange of crypto assets with fiat money in a transparent, automatic manner, in full compliance with international regulations on anti-money laundering and counter-terrorism financing.

The project's pilot period is 36 months at 3 locations located in the central area of ​​Da Nang City, including: Da Nang Center for Supporting Innovative Startups, Da Nang Software Park Concentrated Information Technology Park and Da Nang Software Park No. 2.

Thai Ba Dung

Source: https://tuoitre.vn/nguoi-viet-xep-thu-2-ve-muc-do-choi-tien-so-the-gioi-da-danh-hoi-duoc-20250829122853654.htm