Da Nang's International Financial Center plans to tokenize nearly $4 billion in real world assets to attract global capital. The move, announced earlier this week, targets two flagship infrastructure projects: a 100-plus kilometer expressway linking Da Nang International Airport to Chu Lai Airport, and a 100-kilometer metro line with its first phase valued at around $3 billion.
Da Nang's Role in Vietnam's Strategy
Da Nang is positioning itself as Vietnam's innovation-focused international financial center under the country's "one center, two destinations" strategy. While Ho Chi Minh City handles traditional capital mobilization, Da Nang serves as the sandbox for fintech, digital assets, green finance, and experimental models.
Considered Vietnam's third most important major city after Hanoi and Ho Chi Minh City, Da Nang is prioritizing five main financial products in its initial phase: real asset tokenization, carbon credits, investment funds, commodity exchanges, and bonds. The ultimate goal is to diversify funding away from state budgets and traditional debt financing.
Why This Matters
If this works for the metro line, it will be one of Vietnam's first times using this modern digital financing method for a large-scale infrastructure project. It adds a new option alongside regular government funding and land auctions — one that lets people from around the world invest directly by buying small digital shares of the project on blockchain.
Real world asset tokenization turns real things like roads and trains into digital tokens. This lets regular investors own a small piece of the project. It makes buying and selling easier, more transparent, and faster. It also opens the door to investors and large institutions who usually don't participate in traditional infrastructure deals.
The Partnerships Behind It
Da Nang has signed several important partnership agreements. One is with the World Bank Group to help build a modern, internationally accepted financial system, including better supply chain financing and stronger institutions. They also signed an agreement with Swiss CAM Asia and Singularity Academy to promote investment, innovation, and training local talent. Victory Security Holdings is providing know-how on rules for digital assets. In addition, they are working with the Austrian Blockchain Center on blockchain research and fintech development.
These partnerships combine World Bank technical standards, European institutional expectations on custody and compliance, Hong Kong-style securities know-how, and local capacity building. Data centers, logistics hubs, and high-tech projects discussed at the event could be next in line after the roads and metro lines.
The Bigger Picture
Vietnam wants to become a high-income country by 2045. It has huge needs for new roads, trains, airports, and other infrastructure, and traditional ways of paying for these projects are hitting their limits. Tokenization backed by support from the World Bank's IFC makes it easier for foreign investors to bring money in, while giving project developers access to more private investment.
Private credit funds and infrastructure investors should keep an eye on new deals that mix traditional loans with these new tokenized investment pieces. While everyone is focused on China's lead in batteries, chips, biotech, and supply chains, Vietnam is building the rules and partnerships needed to attract the next wave of investment in digital assets linked to real projects — and opening up private market opportunities to more everyday investors.
The Risks
There are still real risks, including finishing the regulatory framework, making the technology work, and educating investors on how it all operates. But the strong government support and high-quality international partners gives this a better chance than many similar attempts in the region.
If it succeeds, this could become a model for other large projects across Vietnam and the emerging world.