VNDC

VNDC is Vietnam's first and most widely adopted VND-pegged stablecoin, designed to bring the speed and accessibility of blockchain technology to everyday Vietnamese users. Pegged 1:1 to the Vietnamese Dong (VND), VNDC allows anyone to hold, send, and earn yield on a digital currency that mirrors the value of their local fiat — without the volatility associated with Bitcoin or Ethereum. It serves as the foundational asset powering the ONUS ecosystem, Vietnam's largest retail crypto platform.

About VNDC

VNDC was launched on July 1, 2019, by Jade Labs Singapore (VNDC Holding PTE., LTD.) — a Singapore-registered entity with deep roots in the Vietnamese tech and finance community. The stablecoin was created in response to the lack of a reliable, blockchain-native representation of the Vietnamese Dong that could be used across DeFi protocols, remittance applications, and peer-to-peer transactions.

Unlike USDT or USDC which are pegged to the US Dollar, VNDC enables Vietnamese users to transact in their native currency on-chain. Reserve management is handled in partnership with First Digital Trust, a Hong Kong-regulated trustee, providing a degree of institutional oversight over the 1:1 reserve backing.

Key Facts

Key Features

VND-Pegged Stability

The core value proposition of VNDC is simple: 1 VNDC always equals 1 VND. This makes it ideal for Vietnamese users who want to participate in the crypto ecosystem — earning yield, using DeFi protocols, or sending money across borders — without exposure to crypto price volatility. Users can think of VNDC as a digital banknote that lives on the blockchain.

Multi-Chain Availability

VNDC is available on multiple blockchain networks, giving users flexibility in how they hold and use it. The ERC-20 version operates on Ethereum, enabling integration with global DeFi protocols. The BEP-20 version on BNB Chain offers lower transaction fees. VNDC is also native to ONUS Chain — the Layer 1 blockchain built specifically to serve the Vietnamese crypto market — and KardiaChain, another Vietnam-focused blockchain network.

Yield Earning

One of VNDC's most attractive features is the ability to earn yield simply by holding the stablecoin on the ONUS platform. Users can stake VNDC to earn up to 12% APY — a rate that significantly outperforms traditional Vietnamese bank savings accounts, which typically yield 5–7%. This makes VNDC a compelling alternative savings instrument for Vietnamese retail investors.

Borderless Remittance

VNDC enables fast, 24/7, low-cost cross-border transfers for the Vietnamese diaspora. Traditional remittance services charge 2–5% in fees and can take 1–3 business days. VNDC transfers on BNB Chain or ONUS Chain settle in seconds for a fraction of a cent — a meaningful improvement for the millions of Vietnamese workers abroad sending money home.

VNDC vs USDT — What's the Difference?

Pros & Cons

Summary

VNDC represents an important innovation for the Vietnamese crypto market — a locally relevant stablecoin that lets ordinary Vietnamese users participate in the blockchain economy without leaving the comfort of their home currency. As the foundation of the ONUS ecosystem, it has found real product-market fit among millions of Vietnamese retail users seeking higher yield than traditional bank deposits.

For users outside Vietnam or those seeking global DeFi access, VNDC's utility is limited. But for Vietnamese users and the diaspora abroad, VNDC offers a compelling combination of familiarity, yield, and borderless transfer capability that no traditional financial product can match.