Vietnam Eyes Crypto-Backed Loans for SMEs in Major Policy Shift

Vietnam proposes allowing SMEs to use digital assets, virtual assets, and IP as loan collateral under draft law.

Vietnam’s Finance Ministry has proposed a policy change that could allow small and medium-sized enterprises to use digital assets, virtual assets, and intellectual property as bank loan collateral.

The plan, now under public consultation, could widen credit access for private firms and technology startups that lack land or other fixed assets.

Vietnam Reviews New Loan Collateral Rules

According to Viet Nam News, the Ministry of Finance has added the proposal to a draft amendment to the Law on Support for SMEs.

The draft would expand the types of assets that banks may accept when firms apply for loans.

The proposal includes future-formed assets, property rights, intellectual property rights, intangible assets, digital assets, and virtual assets.

It also covers other lawful assets under Vietnamese law. The ministry said the plan is aimed at unlocking resources for the private economic sector.

It is also linked to Resolution 68-NQ/TW of the Politburo.

That resolution identifies the private sector as an important driver of the national economy.

The draft law is now open for public comment before further review.

The policy has drawn attention because it may create a path for crypto-backed loans in Vietnam. However, the draft still depends on legal definitions and banking risk rules.

SMEs Face Credit Barriers Despite Large Market Role

Small and medium-sized enterprises form the core of Vietnam’s business sector.

According to the Ministry of Finance, SMEs and household businesses represent more than 98% of all enterprises in Vietnam.

Even with that large share, the sector receives only about 20% of total outstanding loans. The ministry linked this gap to several long-running credit barriers.

Many SMEs lack eligible collateral, while some also have limited financial records. Others have small capital bases and lower ability to absorb business risks.

These issues make bank lending harder, especially for younger firms. Startups often hold valuable technology, software, brands, or patents.

Yet many of these firms do not own land or large physical assets. Banks have often relied on fixed assets when assessing loan security.

The draft amendment seeks to reduce that dependence. It also encourages credit institutions to consider wider business factors.

These factors include credit ratings, business plans, market growth potential, and cash flows. Banks may still apply their own risk checks under the law.

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Digital Assets Could Support Startup Financing

The proposal could be relevant for technology firms and innovation-led companies. These businesses may own digital tools, software, data-related products, or intellectual property.

Such assets may carry business value, but they are harder to use in traditional loan processes.

The draft would give banks a wider legal base to assess them. The ministry’s framework also mentions virtual assets and digital assets as possible collateral.

This wording has raised interest across the crypto and fintech sectors.

However, the draft does not mean all virtual assets would qualify automatically. Any use would need to follow Vietnamese law and bank lending standards.

Valuation may also become a central issue for lenders. Digital and virtual assets can change in price, and banks may need clear controls.

The same challenge applies to intellectual property and future-formed assets. Banks would need methods to assess ownership, value, and recovery rights.

The proposal marks a major policy shift for SME financing in Vietnam. It aims to support private companies while keeping lending within a legal framework.

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