color: var(color-red-500)

by

Vietnam Proposes Using Digital Assets as Loan Collateral for SMEs

Show AI Summary
Vietnam’s proposed financial reforms aim to increase credit access for SMEs by allowing digital assets as collateral, potentially boosting economic growth.
The planned changes could shift bank lending models away from reliance on real estate, expanding financing options for asset-light businesses and startups.
If implemented, the reforms may significantly increase the 20% share of total bank credit currently received by SMEs, which account for over 98% of Vietnam’s enterprises.

Vietnam is updating its lending rules to make it easier for businesses to get loans. The government is considering letting small and medium-sized companies use things like digital assets, patents, and other intellectual property as security. This change is designed to help startups and companies without traditional collateral, like land or buildings, access the funding they need.

The proposed changes are included in an updated version of the national law supporting small and medium-sized businesses. Public feedback on the draft was collected between May 25th and May 29th, 2026, and the consultation period is now over. The Ministry of Finance intends to present the draft to the National Assembly in October 2026. If passed, the changes would take effect on July 1, 2027, and would allow businesses to use a broader variety of assets – such as future earnings and other legal rights – as collateral when applying for loans.

According to the current proposal, small and medium-sized enterprises (SMEs) are defined as businesses with yearly revenue under VND 400 billion (approximately $15.2 million) and no more than 300 workers.

This plan signals a new economic direction, as outlined in Resolution 68-NQ/TW, prioritizing the private sector for growth. If put into action, these changes would affect how banks evaluate loan applicants and create more funding opportunities for businesses that don’t rely heavily on physical assets.

Breaking the real estate bottleneck

As a crypto investor, I’m seeing a big disconnect in Vietnam’s financial system. Banks still mostly approve loans based on things like property and buildings, which doesn’t really work for the new, digital economy. A lot of startups these days are building value through things like software and patents – intangible assets – but traditional banks just don’t know how to evaluate those, making it tough for innovation to get funded. It feels like the system hasn’t caught up with how value is created now.

The Ministry of Finance reports that a lack of access to funding is hindering business expansion. While small and medium-sized enterprises (SMEs) and private businesses represent over 98% of all companies in Vietnam, they receive only around 20% of all bank loans. As of April 2026, outstanding loans to SMEs totaled nearly VND 3.8 quadrillion (about $144.2 billion). Vietnam currently has around 930,000 registered businesses – most of which are SMEs – and aims to have 2 million operating businesses by 2030. This funding gap means many promising companies are unable to secure the financing they need to grow.

The proposal, as it currently stands, advises lenders to look beyond just the value of assets when deciding whether to approve a loan. They will also need to consider a borrower’s credit history, income, and business plans.

The Q3 digital asset architecture

As a researcher following developments in the crypto space, I’m seeing exciting progress in Vietnam. They’re actively building a fully regulated market for cryptocurrencies and digital assets, and currently aim to have it operational by the third quarter of 2026. The regulatory bodies are collaborating with financial and security experts to establish clear trading guidelines and, importantly, safeguards for investors as this framework comes together.

Vietnam’s government is moving forward with plans to create a legal framework for cryptocurrency trading. Deputy Finance Minister Nguyen Duc Chi stated the government is dedicated to establishing a well-regulated market, and has already given initial approval to five companies to begin operating crypto trading platforms.

Several large companies in finance and industry are getting ready to participate. Groups linked to Techcombank, VPBank, and LPBank have already met the first requirements, and VIX Securities and Sun Group are also applying to be part of the trial program. This shows increasing competition as Vietnam gets ready to launch a legal digital asset market.

Crypto regulation and tax framework take shape

Okay, so I’m hearing Vietnam is finally figuring out how to tax crypto, and it sounds pretty straightforward. They’re planning to treat crypto trading just like stock trading – if you’re using a licensed exchange, you’ll pay a 0.1% tax on every trade. The interesting part is this applies to *everyone*, no matter where you live. It’s good to see them moving forward with regulations, and this tax seems reasonable compared to some other countries.

Companies that invest in cryptocurrency have a stricter set of rules to follow. Any profits they make from trading crypto are subject to a 20% corporate income tax, calculated after subtracting their trading costs and expenses.

The proposal suggests that buying and selling cryptocurrency shouldn’t be taxed as a typical purchase, which indicates officials probably see it as an investment like stocks and bonds, rather than something you simply buy as a product.

Besides tackling cryptocurrency concerns, the proposed plan also supports environmentally friendly businesses in Vietnam. These businesses can qualify for loans and other financial benefits.

Read More

2026-06-01 16:33