Crypto Sandbox: Da Nang Expands USDT-to-VND Trading to 10 Districts
Da Nang has expanded the scope of its pilot program for converting USDT cryptocurrency to Vietnamese Dong via the Basic Pay application , from the initial 3 areas to 10 key tourist areas. The new scope includes Da Nang International Airport, central areas, golf courses, and resorts. After more than a year of implementation under a controlled testing (sandbox) mechanism, the platform has recorded approximately 10,000 registered accounts and over 15,000 transactions.
Da Nang expands the scope of USDT to VND exchange.
According to information published by Tuoi Tre Newspaper on October 18, 2026, the Basic Pay application has been approved to expand its operations after more than a year of testing in Da Nang.
Basal Pay is a solution developed by AlphaTrue Solutions Joint Stock Company, licensed for controlled testing from August 2025. The platform supports users in converting USDT cryptocurrency to Vietnamese Dong within the scope permitted by the competent authority.
In the initial phase, testing was limited to three locations:
- Da Nang Innovation and Startup Support Center.
- The Da Nang Software Park is a concentrated information technology zone.
- Da Nang Software Park No. 2.
Following the operational phase and evaluation of results, the pilot program was expanded to 10 areas, focusing on locations with high concentrations of international tourists and a significant demand for converting digital assets into fiat currency.
This represents a notable expansion of a cryptocurrency-related sandbox model in Vietnam, but it remains within the scope of an approved trial, not a nationwide USDT trading mechanism.
Which regions allow USDT conversion?
Basic Pay’s expansion focuses on tourism, service, and accommodation centers in Da Nang and the Hoi An area.
According to the published list, the locations and facilities included in the expanded trial are:
- Da Nang International Airport: The area that receives a large number of international visitors to the city.
- Hai Chau Center: An area with a high concentration of commercial and service activities.
- The An Hai – My Khe – Ngu Hanh Son coastal route: This area has many hotels, restaurants, and tourist facilities.
- Hoi An: An international tourist destination with a need for spending and currency exchange.
- Ba Na Hills: A tourist destination attracting both domestic and international visitors.
- Legend Danang Golf Resort.
- Ba Na Hills Golf Club.
- Montgomerie Links Vietnam.
- Hoiana Resort & Golf.
- Vinpearl Golf Nam Hoi An.
Expanding the scope does not mean that all businesses in the aforementioned areas are permitted to directly accept USDT for payment.
The activity being tested involves converting crypto assets to VND through an approved platform, with specific limits and conditions applying.
Over 15,000 transactions after a year of testing.
Mr. Tran Huyen Dinh, General Director of AlphaTrue Solutions, said that after one year of operating under the sandbox mechanism, Basic Pay has recorded approximately 10,000 registered accounts.
The number of transactions generated on the system exceeded 15,000.
At the three initial test locations alone, the total value of USDT to VND conversions exceeded $100,000.
These figures show that the model already has actual users and transactions, rather than just being in the technology solution introduction phase.
However, it’s important to distinguish between the number of registered accounts, the number of transactions, and the total conversion value. These are three different metrics, and none of them are sufficient to determine the number of regular users or the average transaction value across the entire platform.
Specifically, the figure of over $100,000 announced by the company refers to the initial three locations, not the total sales for all 10 regions after expansion.
Each account can convert a maximum of 30,000 USDT per month.
Basic Pay currently applies transaction limits to control the scale of operations during the testing phase.
According to Mr. Tran Huyen Dinh, each conversion must have a value of less than 1,000 USDT.
The total conversion value of an account is limited to a maximum of 30,000 USDT per month.
Therefore, users cannot arbitrarily make a large conversion transaction, even if the cryptocurrency balance in their wallet exceeds the limit.
The transaction- and account-based limit mechanism helps the operating unit control the testing process, while also generating data to assess usage needs and potential risks.
USDT is a stablecoin issued by Tether, designed to maintain its value as a reference to the US dollar. However, USDT is not physical USD, and its actual transaction value depends on the exchange rate, fees, and applicable platform conditions.
Converting USDT to VND does not mean you can make direct payments using cryptocurrency.
A key aspect of the Basic Pay model is the conversion of cryptocurrency assets into fiat currency before users spend them.
USDT holders conduct conversion transactions within the pilot program, then use VND to pay for goods or services.
This is different from restaurants, hotels, or golf courses directly accepting USDT as a means of payment.
According to information recorded by Tuoi Tre newspaper, the model in Da Nang does not allow the direct use of crypto assets to purchase goods or services.
This approach aims to separate the conversion of digital assets from conventional payment activities, while also supporting transaction control and anti-money laundering efforts.
Therefore, the expanded Basal Pay information should not be interpreted as Vietnam recognizing USDT as a legal means of payment or allowing the widespread use of cryptocurrency in the tourism sector.
Da Nang assesses compliance with anti-money laundering measures.
Mr. Le Son Phong, Deputy Director of the Da Nang City Department of Science and Technology, said the city has approved six sandbox models.
Among them, Basic Pay was the first model to be licensed for testing and also had the longest operating time.
According to the assessment published by Mr. Phong, 100% of transactions generated on the platform during the trial period met the requirements for anti-money laundering and counter-terrorism financing according to applicable standards, with reference to recommendations from the Financial Action Task Force (FATF).
This is the result provided by the local regulatory agency during the sandbox evaluation process; it does not mean that all USDT transactions outside the testing scope have been verified or approved.
The expansion from 3 to 10 zones shows that Da Nang is adopting a step-by-step approach, based on operational results and business compliance.
Instead of expanding immediately on a large scale, the model is tested on a limited scale before adding more locations to serve users.
International travelers now have more options for converting digital assets.
One of the target user groups for this model is international tourists, remote workers, and individuals who own cryptocurrency assets while visiting Vietnam.
For this group, converting digital assets into the local currency may create needs during their stay, travel, and shopping.
Tuổi Trẻ newspaper cited the case of an American tourist living in Hoi An. Previously, this person often had to travel to the center of Da Nang to exchange USDT for VND.
As the pilot program expanded to Hoi An and other tourist areas, access to the service became more convenient.
This is a practical example of the demand for the service, but it’s not enough to conclude that the model has become widely used among international tourists.
The scale of the user base, transaction frequency, and economic efficiency of the program still need to be evaluated through subsequent operational reports.
Da Nang aims to further experiment with stablecoins and tourism finance.
Based on the results of the implementation of Basic Pay, the Da Nang Department of Science and Technology stated that it will continue to advise the city on considering new pilot models.
The areas discussed include stablecoins, travel finance solutions, and cross-border settlements.
These are areas with the potential to connect digital asset technology with real-world transaction needs, especially in localities with a large number of international visitors.
However, these directions have only been mentioned as potential areas for research and future testing. It cannot yet be considered a decision authorizing the widespread deployment of stablecoin services or cross-border payments using cryptocurrencies.
The actual implementation depends on the scope of approval, technical requirements, and relevant legal regulations.
How is Sandbox Basal Pay different from a cryptocurrency exchange?
In the context of Vietnam’s pilot implementation of a cryptocurrency market under Resolution 05/2025/NQ-CP, it is necessary to clearly distinguish the Basic Pay model from the operation of organizing a cryptocurrency trading market.
Basic Pay is introduced as a technology solution that supports the conversion of USDT to VND within a locally approved sandbox.
Meanwhile, organizations providing cryptocurrency trading market services under Resolution 05 must meet specific licensing conditions, including charter capital, ownership structure, personnel, technology, and system security.
The expansion of the Basal Pay pilot program does not mean AlphaTrue Solutions has been granted a license to operate a cryptocurrency exchange under the national pilot mechanism.
The two models have different objectives and legal scopes, even though they both relate to digital assets.
A notable expansion of the digital asset pilot program in Vietnam.
Information from October 18, 2026 indicates that the pilot program for converting USDT to VND in Da Nang has moved to a phase with a wider geographical scope.
After more than a year of deployment, Basic Pay has recorded approximately 10,000 registered accounts, over 15,000 transactions, and conversion value exceeding $100,000 across its three initial locations.
Adding airport areas, golf courses, resorts, and tourist destinations allows the model to reach more users in real-world situations.
Nevertheless, this is still a controlled experiment, with specific conversion limits and approved scope.
Further data to monitor include transaction values after expansion, visitor usage levels, compliance results, and new decisions from regulatory authorities.
The developments in Da Nang are a noteworthy case in the testing of digital asset applications in Vietnam, but they have not yet changed the overall legal status of USDT as a means of payment.（Vietnam Crypto Exchange）
Source:
Tuoi Tre Newspaper, October 18, 2026 , information from the Da Nang City Department of Science and Technology and AlphaTrue Solutions Joint Stock Company.