Four Crypto-to-VND Solutions Under Regulatory Sandbox Testing in Da Nang, Vietnam
In late August, the city of Da Nang approved controlled testing for four new technology solutions related to crypto assets.
According to Decision No. 3809/QD-UBND, the Municipal People’s Committee approved a time-limited controlled trial for the new technology solution “PayD Smart Tourism Financial Application,” developed by PAYD Joint Stock Company. The trial period is 18 months, starting from August 22, 2026.
Decision No. 3810/QD-UBND of the Municipal People’s Committee approved a time-limited controlled trial for the new technology solution “TORA — An Intermediary Platform for Converting Digital Assets (USDT) to Fiat Currency (VND) Integrated with Non-Custodial Basic Payment Gateway Services,” developed by DANOVA LABS Joint Stock Company. The trial period is 36 months, starting from August 22, 2026.
Decision No. 3811/QD-UBND of the Da Nang Municipal People’s Committee approved a time-limited controlled trial for “Umi Pay,” a new technology solution developed by ICETEA SOLUTION Digital Asset Services Joint Stock Company. This solution is a non-custodial technical intermediary platform that supports conversion between digital assets (USDT/USDC stablecoins) and fiat currency (VND), featuring integrated conversion capabilities designed to support Da Nang’s tourism and service ecosystem. The trial period is 36 months, starting from August 22, 2026.
Decision No. 3812/QD-UBND of the Municipal People’s Committee approved a time-limited controlled trial for the new technology solution “Multi-line Cross-Border Settlement Infrastructure Based on Crypto Assets,” developed by Money X-Border Company Limited. The trial period is 24 months, starting from August 22, 2026.
These solutions are being tested at the following locations: Software Park No. 1 at 2 Quang Trung Street, Hai Chau Ward, Da Nang; Software Park No. 2 at 2 Nhu Nguyet Street, Hai Chau Ward, Da Nang; and the Da Nang Startup Support Center at 58 Nguyen Chi Thanh Street, Hai Chau Ward, Da Nang.（Vietnam crypto exchange）
The Department of Science and Technology is the agency responsible for guiding and overseeing the testing process for the above solutions.