Enhancing Blockchain Development in Ho Chi Minh City through Sui Connect
Vietnam's tech-savvy population and rapidly digitizing economy have propelled the country into the global spotlight for cryptocurrency adoption, joining the ranks of countries such as India, Nigeria, and El Salvador. This surge in adoption is driven by a growing number of use cases in payments, remittances, decentralized finance (DeFi), and international trade.
The Vietnamese government has taken proactive steps to regulate this growth, passing the Law on Digital Technology Industry on June 14, 2025. Effective from January 1, 2026, the law provides a comprehensive legal framework for digital assets, recognizing crypto ownership and use, and imposing strict anti-money laundering (AML) and know-your-customer (KYC) requirements on service providers.
Key trends in Vietnam's crypto adoption include the increasing use of stablecoins like USDC for USD settlements by Vietnamese exporters, bypassing traditional banking bottlenecks and currency volatility. Crypto is also widely used for remittances and participation in DeFi ecosystems, with Bitcoin, Ethereum, and Tether (USDT) being the most adopted assets.
On July 29, 2025, Sui Connect is hosting a blockchain event in Ho Chi Minh City at The Hive Thao Dien. The event aims to showcase the special features and capabilities of Sui technology, a scalable blockchain that promises to drive decentralized applications. The event will include lightning talks, networking, and discussions, providing opportunities for developers to meet with the Sui Foundation and discuss the scalability, security, and application of Sui.
Sui Blockchain, known for its greater transaction capacity, is an interesting alternative for businesses and developers. According to a study by the Journal of Blockchain research, Sui Blockchain has a transaction per second (TPS) capacity of up to 120,000, making it a promising solution for a more efficient blockchain ecosystem.
The growth of cryptocurrency in Vietnam should be clear of law, according to analysts, as the legalization and regulation of digital assets from 2026 onward are expected to accelerate this trend. Ho Chi Minh City continues to be a focal point for blockchain innovation and events, with Sui Connect working towards establishing a strong cryptocurrency ecosystem in Vietnam.
Negotiations about cryptocurrency laws in Vietnam may affect the use of blockchain technology worldwide, as the country aims to become a leader in Web3 technology through the adoption of cryptocurrency and blockchain technology. The event is an indication of Vietnam's significant contribution to the crypto world, further solidifying its position as a global leader in digital asset adoption.
- The Vietnamese government, recognizing the surge in cryptocurrency adoption, passed the Law on Digital Technology Industry on June 14, 2025, providing a legal framework for digital assets and imposing strict anti-money laundering and know-your-customer requirements on service providers.
- Sui Blockchain, known for its greater transaction capacity, is an interesting alternative for businesses and developers, with a transaction per second (TPS) capacity of up to 120,000, making it a promising solution for a more efficient blockchain ecosystem.
- As Vietnam aims to become a leader in Web3 technology through the adoption of cryptocurrency and blockchain technology, negotiations about cryptocurrency laws in Vietnam may affect the use of blockchain technology worldwide, solidifying Vietnam's position as a global leader in digital asset adoption.
