Da Nang expanded the exchange of crypto assets from three to 10 areas, allowing users to convert to Vietnamese Dong when trading through the VietQR code.

According to the license from the Department of Science and Technology of Da Nang, the Basal Pay application is allowed to be tested at Da Nang international airport, Hoi An ancient town, Ba Na Hills, golf course system and coastal tourist areas. There are also two software parks, the Da Nang Innovation Startup Support Center and a number of commercial and service neighborhoods in Hai Chau, An Hai, and Ngu Hanh Son. Testing period until August 26, 2028.

Basal Pay is the first solution to convert crypto assets to fiat currency in Vietnam. In August 2025, the application was licensed for controlled testing (sandbox) by Da Nang for three locations.

According to Mr. Tran Huyen Dinh, CEO of AlphaTrue Solutions - the developer of Basal Pay, to use, users need to deposit crypto assets into the wallet on the application, verify their identity (eKYC) and then scan the QR code at supported points of sale. Encrypted assets are then automatically converted to Vietnamese Dong when trading via VietQR code or transferring via the NAPAS system.

After a year of operation, the application has 10,000 registered accounts, with more than 15,000 transactions. The total transaction value in the three initial test areas reached more than 100,000 USD, according to Mr. Dinh. After eKYC, users have a total transaction limit of 26 million VND (equivalent to 1,000 USD) per day and 776 million VND (30,000 USD) per month, enough to meet normal travel spending needs.

Explaining the expansion of the sandbox scope, Mr. Le Xuan Phong, Deputy Director of the Department of Science and Technology of Da Nang, said that Basal Pay is the first model of exchanging crypto assets with fiat currency licensed by the city, and has the longest operating time.

According to Mr. Phong, after the testing period, 100% of transactions occurring on the platform comply with regulations on anti-money laundering, anti-terrorist financing and international standards. "This result is the basis for the City Advisory Department to approve the expansion of Basal Pay as well as grant new licenses for the next models," Mr. Phong said.

After Basal Pay, a number of applications such as PayD, UmiPay and X-Border have also been licensed by Da Nang to test converting digital assets to fiat currency, but in a more limited scope.

Zhong Dat

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