Lê Thị Dung – Associate

Lê Hữu Tiến – Paralegal

On 26 August 2025, the People’s Committee of Da Nang officially approved the controlled trial of Basal Pay, a software application using blockchain technology for domestic transfers by foreign tourists. This is the first pilot project on the conversion of crypto assets licensed in Vietnam, marking a new move for the city to accelerate digital transformation and develop modern financial services.

1.      Basal Pay – A Pioneer project in Vietnam

According to the People’s Committee of Da Nang, Basal Pay is implemented under the controlled sandbox mechanism. This means that the software’s operation will be closely monitored to ensure compliance with existing laws and minimize risks during application.

Basal Pay leverages blockchain technology to support domestic transfers in Vietnamese dong for international tourists. This is not only an innovative technological solution but also opens opportunities for Vietnam to gradually adopt modern digital payment models in line with global trends.

2.      The significance of piloting in Da Nang

Da Nang was chosen as the first locality to pilot Basal Pay since this is one of Vietnam’s major tourist hubs, welcoming millions of international visitors every year. Implementing the pilot here helps:

1. Verify the feasibility of the model in practice, especially in an environment with a large number of foreign tourists;

2. Facilitate risk management when applying blockchain technology in the financial, banking sector, which requires strict supervision; and

3. Provide direction for future policies: if the pilot is successful, Basal Pay could serve as a foundation for similar projects in other localities.

3.       Benefits for foreign tourists

The pilot launch of Basal Pay promises to bring many practical benefits to international visitors:

1. Convenient payments: Foreign tourists can easily convert crypto assets to Vietnamese Dong and make domestic transfers in Vietnamese dong without relying entirely on cash;

2. Transparency and safety: Transactions are recorded on a blockchain platform, reducing risks associated with traditional payment methods;

3. Cost and time savings: Minimizes the need for currency exchange procedures and extra fees from using international cards; and

4. A more modern travel experience: Applying new financial technologies makes spending and shopping in Vietnam easier and more appealing to tourists.

Conclusion

With Basal Pay, Da Nang demonstrates its pioneering role in piloting new financial technologies in Vietnam. If the trial proves successful, it will not only enhance the experience of international visitors but also serve as a stepping stone for Vietnam to gradually integrate deeper into the global digital transformation trend in the field of payments and finance. 

Here is our article about DA NANG TRIALS BASAL PAY - A BLOCKCHAIN SOLUTION FOR TRAVELERS. If you are interested or require legal support regarding electronic identification procedures for enterprises, please visit our DIMAC Website and explore the News Category to stay updated with the latest legal insights and shared market experiences.