Vietnam's Ministry of Finance has formally proposed amendments to the Law on Support for Small and Medium Enterprises (SMEs), allowing them to use digital assets, virtual assets, intellectual property, and other new asset types as collateral for bank loans. The draft is now open for public comment, with a target to submit it to the National Assembly in October 2026.
According to Viet Nam News, the revision expands the 2017 version of the SME Support Law. Newly acceptable collateral categories include future-formed assets, property rights, intellectual property, digital assets, virtual assets, and other lawful assets.
Financing Gap: 98% of Firms vs 19% of Loans
The numbers highlight a severe mismatch. SMEs and individual business households account for over 98% of all registered enterprises in Vietnam, yet their outstanding loans represent only 19% to 20% of the banking system's total credit. Traditional collateral requirements have centered on real estate, leaving tech startups and innovative teams that hold algorithms, software licenses, or digital platform assets locked out of financing. The finance ministry's proposal aims to remove this regulatory barrier.
Digital Assets Enter the Mainstream Framework
Vietnam has been actively building a legal framework for its digital economy. By including virtual assets as legitimate collateral, Hanoi is signaling a shift from a tacit 'gray zone' approach toward integrating crypto and digital assets into mainstream financial regulation. If passed, the law would offer technology startups more flexible financing tools, while also posing new risk management challenges for banks — valuing and ensuring liquidity of digital collateral will be a key focus of supporting regulations. The draft is still in the public consultation phase, and final details are pending.