Vietnam proposed allowing SMEs to use digital assets as collateral.
Vietnam's Ministry of Finance has proposed that small and medium enterprises use digital assets, virtual assets and intellectual assets as collateral for bank loans.
The proposal is part of the revised Small and Small Enterprises Support Law and is open for public consultation, according to a Friday report by Vietnam News. Under the framework, businesses can access loans using future assets, property rights, intangible assets and digital or virtual assets.
SMEs and family businesses account for more than 98% of all enterprises in Vietnam, but outstanding loans to the sector represent only 20% of total bank loans in the economy, according to the report. The ministry attributed the imbalances, lack of qualified collateral, limited financial transparency and the majority of small institutions with small amounts of capital.
Many startups and technology-driven companies have valuable software, patents or intellectual property but lack land or physical resources to commit to, the report said. The new proposal marks a policy shift that could open access to loans outside of the regular credit system for thousands of startups and tech companies.
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Vietnam wants banks to lend on business plans.
The draft urges credit institutions to extend loans based on creditworthiness, business plans, cash flow and market potential, not just fixed assets.
Beyond guarantee reform, the draft law outlines incentives for green and sustainable businesses, including preferential access to credit guarantees, concessional financing and interest rate support for circular economy and energy efficiency projects. Tax incentives and support for ESG compliance reporting are also included.
The draft is currently open for public consultation.
Vietnam has become one of the most active crypto markets in the world, ranking fourth in Chinalysis' 2025 Global Crypto Adoption Index behind India, the US and Pakistan.
Global cryptocurrency adoption index. Source: Chain analysis
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Vietnam eyes Q3 launch of regulated crypto market
According to Cointelegraph, Vietnam could see its first cryptocurrency market activity in the third quarter of 2026, Deputy Minister of Finance Nguyen Duc Chi said at the Digital Trust's Finance 2026 forum.
In March, regulators opened the way for domestic crypto trading platforms to be licensed earlier this year, with five companies including Techcombank, VPBank and LPBank affiliates passing the first round of qualifications to launch the country's first regulated exchange.
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