Vietnam proposes allowing SMEs to use digital assets as loan collateral

Vietnam’s Ministry of Finance has proposed letting small and medium-sized enterprises use digital assets, virtual assets and intellectual property as collateral for bank loans.

The proposal is part of a draft revised Law on Support for SMEs, which is open for public consultation, according to a Friday report by Vietnam News. Under the framework, businesses could secure loans using future-formed assets, property rights, intangible assets and digital or virtual assets.

SMEs and household businesses account for more than 98% of all enterprises in Vietnam, yet outstanding loans to the segment represent only around 20% of total bank credit in the economy, per the report. The Ministry attributed the imbalance to a lack of eligible collateral, limited financial transparency and the small capital base of most SMEs.

Many startups and technology-driven companies hold valuable software, patents or intellectual property but have no land or physical assets to pledge, the report claimed. The new proposal marks a policy shift that could open up credit access for thousands of startups and tech companies currently locked out of the formal lending system.

Related: Bithumb enters Vietnam crypto license race with SSI Digital deal

Vietnam wants banks to lend on business plans

The draft also pushes credit institutions to expand lending based on credit ratings, business plans, cash flows and market potential, rather than fixed assets alone.

Beyond collateral 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-saving 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 Chainalysis’ 2025 Global Crypto Adoption Index behind India, the United States and Pakistan.

Global cryptocurrency adoption index. Source: Chainalysis

Related: Vietnam arrests ONUS-linked suspects in alleged crypto fraud case

Vietnam eyes Q3 launch of regulated crypto market

As Cointelegraph reported, Vietnam could see its first regulated crypto market activity as early as the third quarter of 2026, Deputy Minister of Finance Nguyen Duc Chi said at the Digital Trust in Finance 2026 forum.

In March, regulators opened a licensing pathway for domestic crypto trading platforms earlier this year, with five companies, including affiliates of Techcombank, VPBank and LPBank, having already passed an initial qualification round to launch the country’s first regulated exchange.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026