Vietnam may let SMEs use digital assets to unlock bank loans

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

The proposal is part of the draft revised Law on Support for SMEs, which is open for public consultation, according to Viet Nam News. The plan would widen the type of assets that businesses can use when applying for bank loans.

Under the draft, SMEs could use assets formed in the future, property rights, intellectual property rights, intangible assets, digital assets, virtual assets and other lawful assets. The change would move lending beyond the current focus on real estate and other fixed assets.

The policy targets a long-running credit gap

The Ministry of Finance said the proposal aims to improve capital access for private companies and technology startups. Many such firms own software, brands, data, patents or digital products, but lack land or property that banks usually accept as collateral.

State Bank of Vietnam data showed that outstanding SME loans reached nearly VNĐ3.8 quadrillion, or about $144.2 billion, by the end of April. That was equal to about 20% of total credit in the banking system, even though SMEs and household businesses account for more than 98% of enterprises in Vietnam.

Banks may weigh cash flow and business plans

The draft also encourages credit institutions to assess borrowers through credit ratings, business plans, market expansion potential and enterprise cash flows. This would give banks more ways to review SME credit risk without relying only on fixed collateral.

The Ministry of Finance linked the proposal to Resolution 68-NQ/TW of the Politburo, which treats the private sector as an important driver of the economy. The draft also seeks to support innovation, digital transformation, green projects and sustainable business models.

Digital asset rules continue to develop

The proposal comes as Vietnam builds a wider legal framework for digital assets. Related crypto.news coverage has reported that Vietnam has been working on a domestic digital asset exchange pilot and tighter rules around overseas crypto trading.

The new collateral plan does not mean banks must accept every digital or virtual asset. The draft says assets must be lawful under Vietnamese law. That leaves valuation, custody, risk control and legal recognition as key issues for lenders before any new rules take full effect.