Vietnam strengthens digital cooperation with Russia to develop crypto-asset market

Vietnam’s Deputy Prime Minister Ho Duc Phoc concluded an official visit to Russia, aimed at enhancing bilateral cooperation in the field of blockchain and digital finance. The visit forms part of Vietnam’s broader strategy to establish a regulated crypto-asset market and accelerate its transition to a digital economy. This is reported by VNA, a partner of TV BRICS.

During the working trip, Phoc held meetings with Russian Minister of Finance Anton Siluanov, the Deputy Governor of the Bank of Russia, and representatives of leading blockchain research and development institutions. Discussions focused on sharing policy expertise, developing a legal framework for digital assets, and strengthening security standards for cryptocurrency transactions.

The Deputy Prime Minister noted that Vietnam’s economy continues to show strong performance, with GDP growth reaching 7.85 per cent in the first nine months of 2025. Trade turnover between Vietnam and Russia also recorded a significant increase, totalling nearly US$4.6 billion last year – a 26.4 per cent rise compared to the previous year.

Phoc underlined that Vietnam has identified blockchain technology as a key strategic priority for national development by 2030. The government’s recent resolution to pilot a crypto-asset market aims to create an enabling environment for innovation, promote the use of digital financial technologies, and attract high-tech investment while maintaining investor protection and market stability.

He called for continued coordination with the Russian Ministry of Finance and the Bank of Russia to exchange expertise, establish joint mechanisms for safe digital transactions, and develop qualified human resources in the fintech and blockchain sectors.

Russian officials expressed support for Vietnam’s initiatives and affirmed their readiness to share experience in the governance of digital assets, as well as to cooperate in areas such as blockchain infrastructure, cybersecurity, and anti-money laundering systems.

As part of his visit, Ho Duc Phoc also met with staff of the Vietnamese Embassy in Moscow, reaffirming Vietnam’s commitment to deepening its strategic partnership with Russia in technology, finance, and innovation.

Photo: Alex Sholom / iStock