Vietnam Proposes Letting SMEs Use Digital Assets as Bank Collateral

Vietnam's Ministry of Finance wants small and medium-sized enterprises to unlock bank loans using digital assets, virtual assets and intellectual property as collateral. The proposal is tucked into the draft revised Law on Support for SMEs, currently open for public consultation, according to Viet Nam News. The plan would broaden the types of assets businesses can pledge when seeking credit—moving beyond the traditional focus on real estate and fixed property.

Under the draft, SMEs could use future-formed assets, property rights, intellectual property, intangible assets, digital assets, virtual assets and other lawful assets as collateral. The shift aims to address a persistent credit gap. Many tech startups and private companies own software, brands, data, patents or digital products but lack the land or buildings banks typically accept. The Ministry of Finance said the proposal aims to improve capital access for these firms.

State Bank of Vietnam data showed 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. The gap between that 20% figure and the 98% market share suggests plenty of room for creative collateral solutions.

The draft also encourages credit institutions to assess borrowers through credit ratings, business plans, market expansion potential and enterprise cash flows. This gives banks more ways to review SME credit risk without relying solely on fixed collateral—because apparently balance sheets can include more than just buildings and heavy machinery.

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.

The proposal arrives 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. At this rate, digital assets might actually become... useful.

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. Nobody said accepting someone's JPEG collection as loan security would be simple.