Vietnam Pioneers Digital Asset Conversion Pilot with Basal Pay

Vietnam has taken a significant step forward in regulating the use of digital assets by granting Basal Pay, a blockchain-based solution from AlphaTrue Solutions JSC, official permission to pilot its services within the country’s FinTech sandbox. This marks the first time in Vietnam that such a system targeting foreign visitors is being tested under a regulated framework. The project complies with anti-money laundering and counter-terrorism financing (AML/CFT) standards and integrates FATF Travel Rule regulations, ensuring transparency and accountability.