Vietnam’s G-Group, Ninety Eight form digital asset firm, sign strategic deal with Tether

Vietnamese technology firm G-Group and blockchain ecosystem Ninety Eight have jointly established a digital asset company and signed a strategic cooperation agreement with Tether, the world’s largest stablecoin issuer.

The new joint venture, G98 Digital Asset JSC, was launched on Thursday. It will serve as a platform for researching, developing, and applying blockchain technology across the existing digital products and services of both groups.

G98 will operate as a unified legal entity overseeing blockchain-related activities in Vietnam, with a strategy built around four pillars: developing secure and scalable blockchain infrastructure; designing compliant and transparent digital asset products; providing end-to-end blockchain services such as custody and monitoring; and integrating blockchain solutions into corporate ecosystems to improve operational efficiency.

At the launch event, G98 inked an MoU with Tether, the issuer of USDT, the world’s most widely used stablecoin by market capitalization. The agreement focuses on sharing technological expertise, operational standards, and international best practices to support the deployment of blockchain solutions in Vietnam.

Ha Trung Kien, vice chairman of G-Group, said digital assets and blockchain are becoming a structural component of the digital economy rather than a short-term trend.

G-Group operates across four core areas, namely security technology, digital transformation, fintech and multimedia, with eight subsidiaries and more than 1,000 employees.

Ninety Eight is a global blockchain ecosystem offering Web3 products, including digital wallets, blockchain infrastructure and decentralized finance (DeFi) solutions aimed at improving access to digital assets.

At a meeting with Deputy Prime Minister Ho Duc Phoc last October, Marco Dal Lago, vice president of global expansion and strategic partnerships at Tether, said that the firm is keen on cooperating with Vietnamese partners to develop a crypto-asset market in the country.

Last July, Vietnam officially legalized digital assets with the approval of the Law on Digital Technology Industry by the National Assembly, the country's parliament. The Government on September 9, 2025 issued Resolution 05, officially launching a five-year pilot of Vietnam’s crypto asset market.

According to VinaCapital analysts, the government aims to move Vietnam’s crypto activity from large informal markets reliant on offshore channels to formal, taxable, onshore channels integrated into the domestic financial system.

An estimated 17 million Vietnamese already trade cryptocurrencies, with an annual digital asset transaction volume estimated at over $100 billion. Transactions take place on offshore exchanges such as Binance, Bybit, and others, in Singapore, South Korea, and Hong Kong.