Vietnam Proposes Allowing SMEs to Use Digital Assets as Loan Collateral

05/31 09:35

On May 31, the Vietnamese Ministry of Finance proposed allowing small and medium-sized enterprises (SMEs) to use digital assets, virtual assets, and intellectual property as collateral for bank loans to expand financing channels for businesses. According to the draft revised Law on Support for Small and Medium Enterprises, which is currently open for public consultation, businesses will be able to use digital assets, virtual assets, intangible assets, intellectual property, and assets that may be formed in the future as loan collateral. The Ministry of Finance stated that SMEs and individual business households account for over 98% of the total number of enterprises in Vietnam, yet their loan balance only represents about 20% of the total bank credit in the country. Notably, Vietnam is accelerating the regulation of the cryptocurrency industry. In March of this year, Vietnam opened the application process for local cryptocurrency exchange licenses and plans to launch the first regulated cryptocurrency market as early as the third quarter of 2026.

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