LADT and Newpay Open New Chapter in Laos’ Digital Economy_blog

01 Sep, 2025

LADT and Newpay Open New Chapter in Laos’ Digital Economy

The Lao National Digital Technology Group (LADT), together with its third-party digital payment platform NewPay, officially launched operations in Vientiane on September 1 at a ceremony attended by Prime Minister Sonexay Siphandone, ambassadors, officials and representatives of NewPay and partners.

The event, held at the Landmark Hotel, highlighted Laos’ ambition to become a regional hub for digital finance and blockchain technology.

Prime Minister Sonexay Siphandone delivered the keynote address, praising the achievements of NewPay since its introduction in 2020 and emphasising the importance of digital transformation for Laos’ economic modernisation.

He said the launch of LADT and NewPay is not only a milestone in financial technology but also contributes to the government’s policy of building a cashless society, strengthening transparency, and attracting international investment.

The Prime Minister noted that NewPay’s multi-channel payment system – built on QR code technology and connected with international platforms such as WeChat Pay, Alipay and Alipay+ - provides secure, efficient and convenient services to domestic and international users.

“This is an important step in expanding the financial ecosystem, reducing reliance on cash, and integrating Laos more deeply into the global digital economy,” he said.

Distinguished Participants

The ceremony was attended by a wide range of senior government leaders, including Minister of the Prime Minister’s Office, Mr Khamjen Vongphosy, Minister of Justice, Mr Phaivy Sybualapha, Minister of Finance, Mr Sunthiphub Phomvihane, Member of the Central Committeee and Vice Chairman of the Lao Front for National Construction, Mr Khamphoy Vannasan, Member of the Central Committee and Vice Chairman of the Central Inspection Committee, Mr Khamlay Siphaseth, Deputy Governor of the Bank of the Lao PDR, Mr Soulisak Thamnuvong, Deputy Minister of Technology and Communications, Mr Keovisouk Solaphom, Deputy Minister of Industry and Commerce, Mr Manothong Vongxay, and Deputy Minister of Foreign Affairs, Ms Fongsamoud Inlavanh.

Also present were the Ambassadors of Myanmar, Malaysia, the Philippines and Thailand, together with more than 400 experts, business leaders and media representatives from the payments and Web3 industries, underscoring the high level of attention given to Laos’ digital transformation journey.

Ministry Remarks

Speaking at the event, a representative of the Ministry of Technology and Communications highlighted the role of NewPay in building a secure and reliable digital financial ecosystem. He noted that the platform has undergone rigorous technical and compliance checks and is well-positioned to support national priorities such as blockchain infrastructure, digital identity systems, and e-commerce platforms.

“The application of NewPay will benefit small and medium-sized enterprises, connect them with regional and international markets, and reduce the costs associated with cash management,” he said. “The partnership between LADT, NewPay and the Lao government exemplifies the value of public-private collaboration in driving innovation and competitiveness.”

LADT and NewPay Perspectives

The Founder and Chief Executive Officer of LADT, Mr Richard Ma, described the launch as a new stage in Laos’ digital finance journey. He said that with its strategic location in the Indochina Peninsula, Laos could become the “Switzerland of ASEAN”, a hub for digital finance, logistics and innovation.

Mr Ma noted that NewPay has already integrated with Alipay, WeChat Pay, and the global Alipay+ ecosystem, supporting cross-border payments and laying the foundation for blockchain-based financial applications. He added that LADT will continue developing the Lao National Blockchain and the ASEAN stablecoin project, guided by the principle "LAOS BORN, ASEAN DRIVEN, GLOBAL IMPACT."

The Chief Executive Officer of NewPay, Mr Meksavang Phommaly, reaffirmed the company’s commitment to secure, compliant and innovative services, emphasising collaboration with government agencies, financial institutions and international partners to advance cross-border payments and inclusive financial solutions.

International Cooperation

The launch event highlighted strong global support. The Chairman of the Bitcoin Cash Ecosystem Fund, Mr Peng Wang, said blockchain technology underpins trust, transparency and efficiency, and that the Lao National Blockchain will serve as a robust infrastructure for governance, finance, trade, and intellectual property management.

The Executive Chairman of the Hong Kong Digital Assets Listed Companies Association, Mr Caspar Wong, emphasised Hong Kong’s expertise in financial systems and regulatory frameworks, offering Laos support in stablecoin issuance, cross-border payments and compliance.

Dr Johnny Ng, Member of the Chinese People’s Political Consultative Conference, Hong Kong Legislative Council Member, Chairman of the Hong Kong LegCo Web3 and Virtual Asset Development Subcommittee, and Chairman of Goldford Group, delivered a video address highlighting long-term collaboration in technology, research and talent development to support Laos’ digital finance initiatives.

Partnership Agreements

A central highlight of the event was the signing of multiple strategic agreements with leading international blockchain institutions, marking a significant step forward for Laos’ digital finance ecosystem.

● Investment Fund Under BCH Sign Strategic Investment Agreement With LADT

The 42X Fund, a Singapore-incorporated growth expansion arm of the BCH Ecosystem, focuses on supporting innovative enterprises and emerging technologies. At the ceremony, the Director of the 42X Fund, Mr Johnson Teh and the Chief Operating Officer of LADT, Ms Humble Wu, signed a strategic investment agreement. The partnership will advance investment, implementation and ecosystem development in Laos’ fintech and blockchain initiatives, bringing international capital and technical expertise to the country.

● The OOKC Group and LADT Sign a Memorandum of Understanding

Founded in 2018 and headquartered in Dubai, OOKC Group specialises in digital capital market infrastructure and Web3 development. The Founder of OOKC Group, Mr Xiaojun Lau, and the Chief Executive Officer of LADT, Mr Richard Ma, signed a Memorandum of Understanding to deepen collaboration on Web3 and digital asset infrastructure, combining OOKC’s Middle Eastern resources with LADT’s ASEAN presence. The partnership aims to introduce the Lao model to ASEAN and Middle Eastern markets, accelerating digital economy initiatives in emerging regions.

● The BCH Ecosystem Foundation and LADT Sign a Memorandum of Understanding

The BCH Ecosystem Foundation, which supports the sustainable development of Bitcoin Cash and the CashTokens ecosystem, provides funding, resources and strategic guidance for blockchain infrastructure. The Chairman of the BCH Ecosystem Foundation, Mr Peng Wang, and the Chief Executive Officer of LADT, Mr Richard Ma, signed a Memorandum of Understanding to establish long-term cooperation in national blockchain infrastructure, stablecoin issuance, and blockchain ecosystem development, reinforcing Laos’ influence in the global Web3 space.

Prime Minister and LADT CEO Discuss Digital Finance Development

During the ceremony, Mr Richard Ma discussed cross-border payments and the growth of digital finance with Prime Minister Sonexay Siphandone. The Prime Minister encouraged continued exploration aligned with Laos’ national context and pledged government support for future initiatives, according to NewPay.

Social Responsibility Initiative

Guests participated in a special charity segment supporting the Visually Impaired School in Vientiane, scanning NewPay QR codes to make donations. Prime Minister Sonexay Siphandone personally participated, demonstrating how digital technology can connect innovation with social responsibility.

Looking to the Future

LADT and NewPay outlined their strategic priorities for the coming years, which include:

● Building the Lao National Blockchain and related applications;

● Creating a compliant, transparent and efficient digital finance ecosystem;

● Expanding cooperation with ASEAN member states and international partners;

● Promoting stablecoin applications and cross-border payments;

● Strengthening human resource development, research exchange, and startup incubation.

The official launch of LADT and NewPay marks a milestone in Laos’ digital transformation. By integrating government support, private sector innovation and international collaboration, Laos is positioning itself as a regional leader in digital finance.

LADT and NewPay are set to drive blockchain innovation, cross-border payments and Web3 development, accelerating Laos’ transformation into a digital finance hub for ASEAN and the global market.

Last news

Next news

03 Sep, 2025

US Federal Reserve to Hold Conference With Focus on Stablecoins, Tokenization

The United States Federal Reserve will hold a conference next month on "payments innovation," which will include discussions around stablecoin business models and the tokenization of financial products and services.The conference will take place on Tuesday, Oct. 21, and bring together a range of interested parties to discuss how to innovate and improve the payments system."Innovation has been a constant in payments to meet the changing needs of consumers and businesses," Fed Governor Christopher Waller said in Wednesday's release. "I look forward to examining the opportunities and challenges of new technologies, bringing together ideas on how to improve the safety and efficiency of payments, and hearing from those helping to shape the future of payments."Along with the aforementioned stablecoin and tokenization ideas, the Payments Innovation Conference will feature panel discussions on the convergence of traditional and decentralized finance and the intersection of artificial intelligence and payments.The conference will be livestreamed for the public on the agency's website.The central bank has embraced crypto under the Trump administration. In April, the central bank withdrew guidance that previously discouraged banks from participating in crypto and stablecoin activities. The Fed has also ended a program supervising banks involved in crypto and removed the "reputational risk" classification from bank examinations, which were viewed as a win against crypto debanking, The Block previously reported.The most recent minutes from July's Federal Open Market Committee suggested that fiat-pegged tokens could "improve the efficiency of the payment system ... They also observed that such stablecoins could increase the demand for the assets needed to back them, including Treasury securities."

29 Aug, 2025

Crypto Payments & Banking: From Stablecoins to Institutional Custody

The Boundary Between Crypto Payments and Banking Services Has Rapidly Blurred in the Past Two Years: The instant settlement capabilities centered on stablecoins are increasingly viewed by payment giants and banks as key options to improve cross-border and merchant settlement efficiency. At the same time, regulatory developments and the expansion of institutional custody are gradually dismantling the traditional “trust” barrier, ushering in a new stage that emphasizes both compliance and efficiency.Firstly, payment companies are accelerating the integration of crypto settlement into existing merchant ecosystems. Companies like PayPal and Stripe have rolled out products in 2025 supporting stablecoins or direct settlement with crypto assets, claiming lower cross-border fees and faster settlement speeds. These initiatives have attracted numerous pilot projects in e-commerce and international acquiring scenarios. PayPal’s official statements indicate that its “Pay with Crypto” products offer clear advantages in settlement speed and cost, prompting merchants to start testing crypto as an optional payment channel.Secondly, traditional banks are moving from observation to active participation. Large banks are evaluating and piloting custody, clearing, and market access services for stablecoins and digital assets. Their goal is to bring regulated deposit and asset management capabilities into the digital asset space. Institutions like Citibank have publicly stated that they are exploring the feasibility of providing tokenized custody and stablecoin payment services backed by high-quality assets such as government bonds and cash. This signals that banks aim to occupy the “underlying trust” role within a compliant framework rather than being marginalized as simple transaction conduits.Regulatory developments act as a catalyst for accelerating this integration. Recent U.S. legislation and regulatory guidance on stablecoins have clarified that stablecoins must be backed by high-quality, liquid assets while defining the boundaries for bank participation. Regulators are also debating whether banks can directly provide interest on crypto assets or issue stablecoins themselves. Statements from the U.S. Congress and regulatory bodies are redefining the triangular relationship of “who can issue coins, who can provide custody, and who can settle,” directly influencing the commercial models of banks and crypto companies.Against the backdrop of parallel policy and market evolution, banks—especially those with cross-border settlement networks—see opportunities to enhance cross-border efficiency and reduce costs through digital dollars/stablecoins. U.S. monetary regulators such as the OCC have clarified the authority of banks in digital asset services, allowing custody and trading service pilots under strict compliance and risk controls. This provides a legal basis for large banks to enter crypto custody and settlement services.On the technology and ecosystem front, on-ramps, off-ramps, and settlement infrastructure are maturing rapidly. Payment networks like Mastercard and Visa are educating the market and offering API-level crypto access solutions, enabling more seamless fiat ↔ stablecoin flows between wallets and bank accounts. At the same time, improvements in blockchain settlement layers in throughput and cost make micropayments, small-value transfers, and instant settlement scenarios feasible, further encouraging merchant adoption.However, risks and frictions remain. First, regulatory inconsistency remains the greatest concern: rapid U.S. legislation coupled with cautious approaches in other countries has fragmented global market rules, requiring enterprises to prepare multiple compliance schemes when rolling out cross-border stablecoin payments. Second, banks’ concerns about deposit outflows may limit stablecoin interest rates and product design, affecting their attractiveness to retail customers. Third, technical and operational risks—including contract vulnerabilities, custody key security, and anti-money laundering compliance—require continuous investment, especially as transaction volumes scale, since a single failure could trigger systemic trust issues.From a business model perspective, three typical competitive patterns may emerge over the next 12–36 months:“Payment Giant + Stablecoin Issuer” partnerships: leveraging their merchant networks to normalize stablecoin payments.“Bank + Custody Service Provider” model: banks provide compliant custody and settlement channels to retain client fund flows while expanding fee-based businesses.“Neutral Infrastructure Provider” path: offering cross-chain settlement, compliance interfaces, and risk management services to connect payment companies and banks, acting as a neutral market layer.These three paths are not mutually exclusive; cooperation and competition coexist in the evolving ecosystem.The impact on merchants and end users is bidirectional. For cross-border e-commerce and international acquirers, stablecoin payments can significantly reduce foreign exchange costs and shorten settlement times. For ordinary consumers, education and incentive mechanisms (e.g., discounts, instant cashback) are needed to drive habit changes. Privacy, data protection, and consumer protection regulations must also advance in parallel to avoid compromising user rights in the pursuit of efficiency.Conclusion:The integration of crypto payments and banking services has moved from proof-of-concept into an amplification phase of engineering and compliance. The “dual push” of policy and technology will determine whether this transformation evolves from industry experiments to large-scale adoption: regulators must provide clear and actionable rules; banks and payment giants must offer compliant custody and broad merchant access; technology providers must solve settlement efficiency and security challenges. When these three forces align, a true “digital cash era” can materialize in the real economy. For industry participants, the short term requires seizing compliance windows and optimizing cross-border settlement products; the medium term demands continued investment in risk management and user experience to capture the payment transformation dividend driven by stablecoins and custody services.