Vietnam Proposes Allowing SMEs to Use Digital Assets as Loan Collateral
Vietnam’s Ministry of Finance has proposed allowing small and medium-sized enterprises (SMEs) to use digital assets, virtual assets and intellectual property as collateral for bank loans, a move that could improve access to financing for startups and technology-focused businesses.
The proposal is part of a revised Law on Support for SMEs, which is currently open for public consultation. Under the draft framework, businesses would be allowed to secure loans using intangible assets, property rights, future assets, digital assets and virtual assets.
The ministry said SMEs and household businesses make up more than 98% of all enterprises in Vietnam, yet they account for only about 20% of total bank lending. Limited access to credit has been linked to a lack of eligible collateral, low financial transparency and the small scale of many businesses.
Many startups and technology companies own valuable software, patents and intellectual property but lack land or other physical assets that banks traditionally require as collateral. If approved, the proposal could help thousands of businesses gain access to formal financing and support innovation across the economy.
Shift Toward Cash Flow-Based Lending
The draft law also encourages banks to place greater emphasis on business plans, cash flow, credit ratings and growth potential when evaluating loan applications, rather than relying primarily on fixed assets.
In addition, the proposal includes support measures for green and sustainable businesses. These include access to credit guarantees, preferential financing programs, interest-rate support and incentives for projects focused on energy efficiency and the circular economy. Tax benefits and assistance with environmental, social and governance (ESG) reporting are also under consideration.
Vietnam Expands Crypto and Digital Asset Framework
The proposal comes as Vietnam continues to strengthen its digital asset regulatory framework. The country ranks among the world’s fastest-growing crypto markets and placed fourth in the 2025 Global Crypto Adoption Index published by Chainalysis.
Vietnam is also moving toward launching a regulated crypto market. According to government officials, the country’s first regulated crypto trading activities could begin as early as the third quarter of 2026.
Earlier this year, regulators introduced a licensing pathway for domestic crypto exchanges. Several companies, including affiliates of major Vietnamese banks, have already passed an initial qualification process to participate in the country’s first regulated digital asset trading platform.
If adopted, the new lending framework would mark one of Vietnam’s most significant steps toward integrating digital assets into its broader financial system while expanding funding options for small businesses.
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