Vietnam took a big step towards becoming a regional leader in blockchain technology with the official release of its new national blockchain strategy on October 22.
The strategy, signed by Deputy Prime Minister Ho Duc Phoc, outlines a comprehensive plan to develop Vietnam’s blockchain ecosystem and capitalize on this technology’s potential.
These include building 20 Vietnamese blockchain brands across platforms, products, and services, establishing at least three blockchain testing centers or special zones in major cities to create a national network, and having Vietnamese institutions ranked among the top 10 for blockchain research and training in Asia.
The blockchain strategy sets ambitious goals for Vietnam to achieve by 2030.
The first is to perfect the legal environment by establishing clear and well-defined regulations to foster innovation while mitigating risks. The second is to develop infrastructure by building a robust blockchain infrastructure to support the industry’s growth.
To achieve these goals, the strategy outlines five key areas of action.
Vietnam’s blockchain strategy aligns with the county’s recent efforts to legalize digital assets. In February, the Vietnamese government assigned the Ministry of Finance to develop a legal framework by May 2025.
Vietnam has emerged as a country with high activity levels in local crypto exchanges, merchant services, and decentralized finance (DeFi), securing fifth place on Chainalysis’ Global Crypto Adoption Index 2024.