On June 19, in Hanoi, the member units of SSI Securities Corporation, including SSI Asset Management Company (SSIAM), SSI Digital Ventures investment platform, and SSI Digital Technology Company (SSID), signed a strategic cooperation agreement with Tether – the world’s largest stablecoin issuer, U2U Network – a Layer-1 blockchain platform using DAG architecture, and Amazon Web Services (AWS) – a global cloud computing services provider.
The cooperation agreement revolves around three main components: developing digital asset infrastructure (SSID, SSIAM, and Tether), investing in blockchain technology (SSI Digital Ventures and U2U Network), and coordinating the construction of a hybrid infrastructure model combining cloud and decentralized approaches (SSID, U2U, and AWS). This is the first time in Vietnam that a multilateral alliance comprising a securities company, investment fund, blockchain enterprise, and global cloud computing platform has come together in a cooperative endeavor.
Mr. Mai Huy Tuan – General Director of SSI Digital speaks at the event.
At the event, Ms. Quynh Le, Tether’s Director of Asia-Pacific Development, emphasized that Vietnam is at a crucial juncture with blockchain recognized as a strategic technology under Decision 1131 and, more recently, the Digital Industry and Technology Law. “We want to start here – together with SSID, building a transparent, practical, and value-adding digital asset infrastructure,” she said.
Tether is currently the issuer of USDT with a market capitalization of over $155 billion and more than 440 million global users, with 39 million new users joining in Q1 2025 alone. Tether’s representative stated that they would share international experience and provide technical support to SSID in developing digital solutions for personal finance, payments, and asset protection.
Regarding AWS Vietnam, Mr. Eric Yeo, General Director of AWS Vietnam, affirmed that this event marks a “turning point in Vietnam’s digitalization journey,” where centralized and decentralized infrastructures can converge. AWS will provide cloud computing capabilities to U2U Network, one of the world’s top three DePIN Layer-1 platforms, to deploy a hybrid infrastructure model for finance, data, and e-government.
The Potential and Impact of Digital Assets
According to Chainalysis’ 2024 report (a leading blockchain analysis organization), Vietnam ranks 5th globally in interest in digital assets, 3rd in the use of international trading platforms, and 6th in transaction volume on decentralized platforms.
With over 17 million digital asset owners and a total market value exceeding $100 billion, Vietnam is one of the most dynamic and pioneering centers in the global digital asset market.
According to Finder, 41% of surveyed Vietnamese respondents reported having bought or sold cryptocurrencies, the highest proportion among the surveyed countries.
Additionally, according to Crypto Crunch App data, Vietnam has 26 million cryptocurrency owners, ranking third globally.
Digital assets in the Vietnamese market require a clear legal framework.
However, the requirement is for a clear legal corridor for digital assets to protect the interests of all parties involved and promote trust in the technology and the digital asset market.
In Vietnam, for the first time, digital assets, virtual currencies, and cryptocurrencies have been included in the national strategic technology portfolio, along with cloud computing, artificial intelligence, and other technologies, according to Decision No. 1131/QD-TTg recently issued by the Prime Minister.
The decision includes 11 groups of technologies identified as pillars for the country’s scientific and technological development. In addition to technologies such as artificial intelligence, cloud computing, and big data, there is also blockchain technology. Within the blockchain technology group, there are three product groups: digital assets, virtual currencies, and cryptocurrencies; blockchain network infrastructure; and Traceability systems.
Earlier, in October 2024, the government announced the National Strategy on the Application and Development of Blockchain Technology by 2025, with orientations towards 2030, aiming to make Vietnam one of the leading countries in the region and with an international reputation in blockchain research, deployment, application, and exploitation.
“Digital Signatures and Trust Services: The Foundation of Trust in Electronic Transactions.”
In an era where data is the new currency and digital transactions are commonplace, establishing digital trust is paramount.
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Pouring $2 Billion into the “Blue Gold Mine”, a Conglomerate Declares: Whatever the World Has, Vietnam Has It Too!
This is a most laudable ambition and one that deserves to be emulated.
The SSI, Tether, U2U Network, and AWS Ecosystem Collaborate to Revolutionize the Blockchain and Digital Finance Infrastructure.
The signing ceremony marked a significant milestone in Vietnam’s history, witnessing the first-ever collaboration between domestic financial and blockchain technology organizations and a global cloud service provider.
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The process of obtaining a land use right certificate, often referred to as a “red book,” is undergoing significant transformations following the nationwide administrative unit merger and the dissolution of the district-level administrative units.
