Vietnamese users are creating a parallel financial system using stablecoins, bypassing traditional banking systems and regulatory frameworks. This rapid adoption reveals their need for independent financial rails amidst a complex financial landscape marked by limited access to formal finance. While the Vietnamese government maintains a strict ban on cryptocurrencies and is yet to officially regulate stablecoins, the market has surged organically and shows signs of continued growth. This report examines how stablecoins are transforming the financial lives of everyday Vietnamese citizens, analyzing their impact on remittances, trading, and storing value. It explores the lessons learned from neighboring countries that have integrated stablecoin regulations into their frameworks. The report proposes strategies for Vietnam to leverage these insights and build a more transparent and stable digital finance ecosystem.