EFGH Ignites with $8M

Vietnam faces a big problem with fake goods. Counterfeit products in manufacturing and food sectors jumped over 47% last year. Now, a new project aims to fix this. Embed Financial Group Holdings (EFGH), a Singapore firm, teamed up with Digital Asset Protection HHP High-Tech Center JSC (DAP HHP). They signed deals to create , a national blockchain platform. This joint venture has $8 million in committed capital. It will help track products and fight fakes.

What is and Why Does Vietnam Need It?

is a key project. It supports Vietnam’s new draft decree on product identification, authentication, and traceability. The government wants this platform ready by April 1, 2027. The Ministry of Public Security will oversee it. Right now, five ministries handle rules, but there is no single data system. changes that.

The platform is a Layer 2 blockchain on Ethereum. It can handle over 1,000 transactions per second. Each costs no more than $0.01. It runs on servers in Vietnam. has two main tools:

V-TRUST: Creates unique product codes like GS1 standards. It logs ownership changes with government digital IDs. People can check QR codes or NFC tags for real product history. No tampering possible.
V-STABLE: A digital token backed by Vietnamese Dong (VND). Reserves are in State Bank-approved assets. It acts as a fast, cheap settlement system for Vietnam’s “finternet.” This keeps money control in Vietnam’s hands.

V-STABLE might even help cover costs with its yields. But its main job is secure, instant payments at scale.

The Big Signing Ceremony

On April 17, 2026, in Ho Chi Minh City, leaders signed the deals. Dennis Ng, EFGH Executive Chairman, signed for his side. Nguyễn Hữu Hùng, DAP HHP Chairman, and Nguyễn Thanh Hải, CEO, signed too. Nguyễn Thanh Hải will lead the new JV company, VNL1 Co., Ltd. The event happened at Hotel Nikko Saigon.

EFGH brings blockchain tech. DAP HHP offers licenses and government ties. The JV forms in 90 days.

Beyond : Five More Mega Projects

There’s more. A Framework Agreement covers six projects total. It sets rules for all. A Joint Steering Committee starts in 30 days. They meet quarterly. Each extra project has 180 days to finalize work statements from April 17, 2026.

The five other projects build a full digital economy:

Fintech services embedded in daily life.
Tourism infrastructure using blockchain.
Commodity pricing platforms.
AI compute resources.
A mixed-use financial district in Ho Chi Minh City.

The framework lasts three years, then renews yearly. This is EFGH’s first big move in Vietnam and Asia at national level.

Why This Matters for Vietnam’s Future

Vietnam’s economy grows fast. Blockchain solves trust issues. fights counterfeits worth billions. It gives consumers tools to verify goods. Businesses get clear supply chains. Regulators see all data in one place.

V-STABLE boosts digital payments. It fits Vietnam’s rules and supports local currency. No risk to monetary control. This could spark a “finternet” boom – blending finance and internet.

For EFGH, Vietnam is a launchpad. The firm plans similar projects in Asia and Africa. EFGH also eyes a $425 million merger with a US SPAC. This JV proves their tech works at scale.

“Vietnam is not a single project for EFGH — it is a platform. is purpose-built to meet the April 2027 mandate, and we are committed — in capital, in technology, and in execution — to making that deadline.”

Dennis Ng, Executive Chairman, EFGH

“Six workstreams. One partnership. DAP HHP has the government access, the infrastructure, and the operational presence in Vietnam that each of these projects requires. We signed these agreements because we intend to build all of them.”

Nguyễn Thanh Hải, CEO, DAP HHP High-Tech Center

Blockchain’s Role in Emerging Markets Like Vietnam

Blockchain shines in places like Vietnam. It brings transparency without big central systems. Layer 2 tech makes it fast and cheap – key for mass use. Ethereum base ensures global links, but Vietnam hosting keeps data local.

Product traceability cuts fakes. In food, it tracks from farm to table. In manufacturing, it proves authenticity. Consumers scan and trust. This boosts exports too, as global buyers demand proof.

V-STABLE is smart. Many stablecoins face issues. This one is sovereign – fully VND-backed. It enables remittances, e-commerce, and DeFi, all compliant.

Challenges and Path Ahead

Big projects face hurdles. Tech must scale. Regulators need to align. But partners have strong ties. $8M start capital helps. Deadlines push action.

Watch for JSC meetings and SOWs. By 2027, goes live. This could make Vietnam a blockchain leader in Southeast Asia.

Final Thoughts

The deal marks a new era. tackles real problems with cutting-edge tech. It builds trust, cuts costs, and powers growth. As Vietnam digitizes, projects like this lead the way. Stay tuned for updates on this .

Blockchain isn’t just hype here – it’s solving Vietnam’s counterfeit crisis and building a digital future.

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Filed under: Altcoins - @ April 19, 2026 1:32 am