The Vietnamese Ministry of Finance has proposed allowing small and medium-sized businesses to use digital assets, virtual assets and intellectual property as collateral for bank loans.
The proposal is part of the revised draft law on support for SMEs, which is open for public consultation, according to Viet Nam News. The plan would expand the type of assets businesses can use to apply for bank loans.
According to the project, SMEs could use the formed assets in the future, property rights, intellectual property rights, intangible assets, digital assets, virtual assets and other legal assets. This change would move lending beyond the current focus on real estate and other fixed assets.
The policy targets a long-term credit deficit
The Finance Ministry said the proposal aims to improve access to capital for private companies and technology startups. Many of these companies own software, brands, data, patents or digital products, but lack the land or assets that banks usually accept as collateral.
Vietnam Ministry of Finance proposes to allow SMEs to use digital and virtual assets as loan collateral
According to Viet Nam News, the Vietnamese Ministry of Finance has proposed allowing SMEs to use digital assets, virtual assets and intellectual property as collateral for banks… pic.twitter.com/EfkgBUVFY5
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Data from the State Bank of Vietnam showed that outstanding loans to SMEs reached nearly VNĐ3.8 quadrillion, or about $144.2 billion, at the end of April. This is equivalent to around 20% of the banking system’s total credit, although SMEs and family businesses account for more than 98% of businesses in Vietnam.
Banks can evaluate their cash flow and business plans
The project also encourages lending institutions to evaluate borrowers through credit ratings, business plans, market expansion potential and business cash flow. This would give banks more ways to assess the credit risk of SMEs without relying solely on fixed collateral.
The Finance Ministry linked the proposal to Politburo Resolution 68-NQ/TW, which considers the private sector as an important driver of the economy. The project also aims to support innovation, digital transformation, green projects and sustainable business models.
Rules on digital assets continue to develop
This proposal comes as Vietnam builds a broader legal framework for digital assets. Related coverage from crypto.news reported that Vietnam was working on a national digital asset exchange pilot project and stricter rules regarding overseas crypto trading.
The new guarantee plan does not mean that banks must accept all digital or virtual assets. The draft stipulates that the assets must be lawful under Vietnamese law. This leaves valuation, retention, risk control and legal recognition as key issues for lenders before new rules come into full force.
