Country guide

Can you pay in crypto in Vietnam? Yes, here's how

Yes, you can pay your team in Vietnam in stablecoins with Toku. Salary is set, withheld and paid in dong as the Labour Code requires, and because crypto is not a recognised payment instrument in Vietnam, Toku confirms for each person how a stablecoin element can be offered before the first payment.

Vietnam does not treat crypto as a means of payment, so paying people there in stablecoins has to be set up around that rule. The State Bank of Vietnam's banknotes and coins are the lawful means of payment, the State Bank has said bitcoin and similar virtual currencies are not, any payment instrument outside the recognised list is an illegal means of payment, and using one can be fined VND 150 to 200 million for an individual since February 2026. The Labour Code requires wages in dong, paid in cash or into a bank account, and foreign currency earned from exporting services must be transferred into a foreign-currency account at a licensed bank. A government pilot lets licensed firms run a dong-only crypto market for exchange and investment, but according to a Ministry of Finance reply to a question dated October 28, 2026, no firm had been licensed. This guide covers how pay works for employees and contractors, tax and the 2025 to 2026 changes.

Talk to us about paying in stablecoins in VietnamSee pricing

Salary in Vietnam is set and withheld in local currency, and Toku confirms the stablecoin arrangement for each person before the first payment.

Updated · Sources checked November 10, 2026 · Not legal advice

How it works in Vietnam

Yes, you can pay your team in Vietnam in stablecoins with Toku. Salary is set, withheld and paid in dong as the Labour Code requires, and because crypto is not a recognised payment instrument in Vietnam, Toku confirms for each person how a stablecoin element can be offered before the first payment.

Paying employees

Articles 95 and 96 of the Labour Code require wages in dong (foreign currency only for foreign employees), paid in cash or into the employee's bank account, so the salary is paid there first. Crypto is not on Decree 52/2024's list of recognised payment instruments, so any USDC element for an employee is arranged only in a form Toku confirms for that person. (Sources: Labour Code (consolidated text 18/VBHN-VPQH, February 12, 2026), articles 95 and 96, Official Gazette; Decree 52/2024/ND-CP on non-cash payments, Official Gazette)

Paying contractors

Foreign currency a contractor earns from exporting services must be transferred into a foreign-currency account at a licensed bank, and from December 1, 2026 Article 31a of the Law on the State Bank limits pricing and payment in foreign exchange inside Vietnam. Because the State Bank has said crypto is not a lawful means of payment and the crypto pilot has no licensed provider yet, Toku confirms for each contractor whether and how USDC or USDT settlement can be offered. (Sources: Ordinance on Foreign Exchange (consolidated text 140/2026/VBHN-PL-VPQH), article 7, Official Gazette; Law 23/2026/QH16 amending the Law on the State Bank, the anti-money-laundering law and the Law on Credit Institutions, Official Gazette; Deposit Insurance of Vietnam: the State Bank does not recognise bitcoin and similar virtual currencies (2014 State Bank statement); Ministry of Finance: reply on crypto trading and licensing under Resolution 05/2025 (October 2026))

Salary is set and taxed in local currency. Employees who opt in have their net pay, once paid, converted into USDC, and contractors are settled in USDC or USDT, where the local rules allow it. Toku handles the conversion, the compliance checks and the tax and payment reporting, and confirms the arrangement for each person before the first payment.

Local rules for paying employees in Vietnam

Article 95(2) of the Labour Code requires the wage in the employment contract, and the wage paid, to be in Vietnamese dong. Only foreign employees working in Vietnam may be paid in foreign currency. Article 96(2) requires wages to be paid in cash or into the employee's personal bank account, with the employer bearing the account and transfer fees. (Source: Labour Code (consolidated text 18/VBHN-VPQH, February 12, 2026), articles 95 and 96, Official Gazette)

Because Decree 52/2024 treats any payment instrument outside its list as an illegal means of payment and Decree 340/2025 fines using one, the salary itself is paid in dong, separately from any stablecoin element Toku confirms. (Sources: Decree 52/2024/ND-CP on non-cash payments, Official Gazette; Decree 340/2025/ND-CP on penalties in money and banking, Official Gazette)

Under the new Personal Income Tax Law, taxable employment income includes remuneration and benefits in cash or in kind in any form, and the government sets how income received in kind or in a currency other than dong is converted. (Source: Law on Personal Income Tax No. 109/2025/QH15, Official Gazette)

Local rules for paying contractors in Vietnam

Under Article 7 of the Ordinance on Foreign Exchange, residents, including Vietnamese citizens living in Vietnam, must bring all foreign currency earned from exporting services into a foreign-currency account at an authorised credit institution in Vietnam, and every payment for exported services must go through an authorised credit institution. (Source: Ordinance on Foreign Exchange (consolidated text 140/2026/VBHN-PL-VPQH), article 7, Official Gazette)

From December 1, 2026, a new Article 31a of the Law on the State Bank bars transactions, payments, price quotes and contract prices in foreign exchange inside Vietnam unless a law, a National Assembly resolution or the State Bank Governor allows them. Whether a dollar stablecoin counts as foreign exchange is not defined. (Source: Law 23/2026/QH16 amending the Law on the State Bank, the anti-money-laundering law and the Law on Credit Institutions, Official Gazette)

The crypto pilot does not authorise paying for services or wages in crypto: it treats crypto assets as used for exchange or investment on a dong-only market run by licensed firms, and according to the Ministry of Finance's reply to a question dated October 28, 2026, none had been licensed. (Sources: Resolution 05/2025/NQ-CP on piloting the crypto asset market, Official Gazette; Ministry of Finance: reply on crypto trading and licensing under Resolution 05/2025 (October 2026))

Ways to pay people in Vietnam, compared

How the common ways to pay someone in Vietnam compare. The Toku row describes how Toku works; coverage and the arrangement for each person are confirmed before the first payment.

MethodEmployeesContractorsWhat to keep on record
Local payroll and bank transfer in VNDSalary paid in local currency, with tax and contributions withheld. No stablecoin option.Paid in VND or another fiat currency to a bank account.Payslip or invoice, payment confirmation and any tax withheld.
Sending USDC or USDT yourselfDoesn't cover employees on its own: salary still has to be set, withheld and paid under local payroll rules.You handle the payment, foreign-exchange, tax and reporting rules in Vietnam yourself, and some payment rules there may restrict it.The VND value on the payment date, the exchange rate used, wallet addresses and transaction hashes.
TokuSalary set, withheld and paid in VND through Toku's employer of record, with a USDC option for net pay arranged as described on this page.Invoices in VND (or USD where local invoicing rules allow it), settled in USDC or USDT where Toku confirms the route for that contractor, with approvals and payment records in one place.Contracts, invoices, payment records and tax documents kept with each payment.

Tax and reporting

The new Personal Income Tax Law, in force from July 1, 2026, adds income from transferring digital assets to taxable income and taxes it at 0.1% of the transfer price, for residents and non-residents alike. The Ministry of Finance says Circular 32/2026/TT-BTC applies the 0.1% rate to each crypto transfer and that transfers and trading of crypto assets are not subject to VAT. (Sources: Law on Personal Income Tax No. 109/2025/QH15, Official Gazette; Ministry of Finance: Circular 32/2026/TT-BTC on tax policy for crypto assets (March 31, 2026))

Under Circular 41/2026/TT-BTC, licensed crypto asset service providers withhold personal income tax on each transfer made through them, file monthly withholding returns and give each taxpayer an annual electronic withholding certificate. With no provider licensed yet, that withholding has not started. (Sources: Circular 41/2026/TT-BTC on tax withholding on the crypto asset market, Official Gazette; Ministry of Finance: reply on crypto trading and licensing under Resolution 05/2025 (October 2026))

From December 1, 2026, crypto asset services join the businesses with anti-money-laundering reporting duties, and the anti-money-laundering law gains crypto-specific suspicious transaction indicators. (Source: Law 23/2026/QH16 amending the Law on the State Bank, the anti-money-laundering law and the Law on Credit Institutions, Official Gazette)

Recent changes

What the official sources leave open

The official sources leave these points open. Where one affects a payment, Toku confirms how it is handled for each person before the first payment.

  • Whether a dollar stablecoin such as USDC or USDT counts as foreign exchange under the Ordinance on Foreign Exchange or the new Article 31a of the Law on the State Bank.
  • How crypto received as wages or fees would be converted into dong for personal income tax. The new tax law leaves this to a government decree.
  • How the 0.1% transfer tax applies to crypto held in a person's own wallet rather than through a licensed provider.
  • When the first crypto asset service provider will be licensed, which starts the six-month clock for trading outside licensed firms.

How Toku pays your team in Vietnam

Employees hired through Toku’s employer of record in Vietnam have their salary set, withheld and paid in local currency, with the USDC option for net pay arranged as described above through stablecoin payroll. Whether Toku can support a hire in Vietnam is confirmed before an offer. Contractors are paid through contractor management, which keeps invoices, approvals and USDC or USDT payment records together. Toku confirms the arrangement for each person before the first payment.

For the practical steps, see how to pay contractors in Vietnam. Compare costs on the pricing page and estimate transfer costs with the FX savings calculator.

Toku pioneered this approach: founded in 2020, it started with token payroll and is now an employer of record and global payroll provider in 100+ countries, paying teams in local currency or stablecoins. About Toku.

Talk to us about paying in stablecoins in Vietnam

This guide is general information, not legal or tax advice. Rules on crypto, wages and foreign exchange change often and depend on the facts of each arrangement, so confirm your situation with a qualified local adviser before you pay anyone in crypto or stablecoins.

Paying in crypto in Vietnam: frequently asked questions

Every source below was opened and checked on November 10, 2026. Where a source and this page ever disagree, the source wins.

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Tell us who you pay and where they work. We'll show you how salary, contractor payouts and the USDC or USDT option work for each person, with an itemized quote.

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Salary in Vietnam is set and withheld in local currency, and Toku confirms the stablecoin arrangement for each person before the first payment.