Vietnam’s Techsmart Telecom has formalized a significant agreement involving telecoms, blockchain, fintech, and cybersecurity. This partnership includes three key collaborators: The Institute of Information Technology and CyberSecurity (IITCS), the UAE-based Venom Foundation, and Abu Dhabi’s GS Fund Technology and Investment. The initiative aims to develop a sovereign digital finance ecosystem, which will incorporate a national Data Centre, regulated stablecoin issuance, cross-border transactions, cybersecurity frameworks, and fintech education.

The Venom Foundation, which has created the sovereign-grade Layer‑0 network for this project, has been actively engaging with Southeast Asian central banks, including the Monetary Authority of Singapore, Bank Negara Malaysia, the Philippines’ Bangko Sentral ng Pilipinas, and the State Bank of Vietnam. They are promoting a modular blockchain that supports ISO 20022 messaging, on-chain KYC/AML, real-time settlements, and the tokenization of assets.

In the first year, technical work will concentrate on establishing the necessary blueprint and legal framework. Venom has noted Vietnam’s youthful and tech-savvy population, alongside a rapidly growing cross-border fintech sector, as an ideal environment for tokenizing both financial and real-world assets. Dr. Hoang Phuoc Thuan, director of IITCS, pointed out that Resolution 57 serves as a strategic anchor, linking data sovereignty, AI ambitions, and e-government goals.

GS Fund will be in charge of constructing the Data Centre under an established legal-economic framework, while IITCS will manage regulatory compliance and talent development programs. Techsmart will oversee the integration of telecommunications.

The exploration of blockchain technology in Vietnam’s economy extends well beyond this partnership. The Vietnam Blockchain Association is closely collaborating with the government, and One Mount Group, a member of the VBA, has recently announced a commitment of US $200–500 million to create a sovereign Layer‑1 blockchain in line with Prime Minister Directive 05/CT‑TTg. This indicates a growing policy alignment supporting the emerging blockchain ecosystem.

However, challenges remain in regulatory execution, interoperability with traditional finance, and the integration of cybersecurity measures. Success in Vietnam could set a precedent for a replicable Southeast Asian model of public-sector-backed, interoperable financial networks.