Da Nang pilots crypto asset sandbox to boost digital tourism

Da Nang is working to establish a sustainable digital finance ecosystem integrated with tourism through a controlled regulatory sandbox for crypto assets. This initiative is supported by National Assembly resolutions that allow the city to pilot new technologies, products, and business models.

During a recent workshop organized by the Vietnam Blockchain and Digital Asset Association (VBA) and several partners, including Tether and AlphaTrue Solutions, officials discussed how these sandboxes can drive economic growth. Ho Quang Buu, Vice Chairman of the Da Nang People's Committee, emphasized that the city's goal is not merely to host many sandboxes, but to pioneer the practical application of new solutions to enhance tourist experiences and expand local business opportunities.

To date, six entities have been granted sandbox licenses in Da Nang. The Department of Science and Technology is managing a closed operational process that includes application appraisal, monitoring, and evaluation to provide data for future policy adjustments.