Circle sees stablecoin opportunity in Vietnam’s cross-border payments
CRCL•Circle identified cross-border settlement, rather than replacing domestic payment infrastructure, as Vietnam’s main stablecoin opportunity. Vietnam received more than $16 billion in remittances in 2025, including more than $10 billion into Ho Chi Minh City.
1. Cross-border settlement opportunity
Circle’s analysis identifies cross-border settlement as Vietnam’s main stablecoin opportunity, rather than replacing its established domestic payment infrastructure. Digital dollars could reduce liquidity pre-funding needs, while local partners handle final Vietnamese dong payouts through existing banking networks.
2. Funding and regulations
Payment providers can face USD pre-funding requirements up to three days before weekend supplier settlements, tying up working capital. Digital assets gained legal recognition as property on January 1, 2026, but general crypto and stablecoin payments remain restricted.
