Vietnam proposes digital assets as loan collateral

The Vietnam — Ministry of Finance (Vietnam)>>> has proposed a draft amendment to the Law on Support for SMEs, which would allow small and medium-sized enterprises (SMEs) to use digital assets, virtual assets, and intellectual property as collateral for bank loans. This policy shift aims to address the significant credit gap faced by SMEs, which constitute over 98% of businesses in Vietnam>>> but receive only about 20% of total bank credit. Many tech startups and innovation-driven companies lack traditional physical assets like land or buildings, making it difficult to secure loans. The draft law encourages banks to assess borrowers based on business plans, cash flows, credit ratings, and market potential, rather than solely on fixed assets. Additionally, it includes incentives for green and sustainable businesses. This initiative aligns with Vietnam>>>'s broader efforts to modernize its financial system and integrate digital assets, as evidenced by its high ranking in global crypto adoption and plans for a regulated crypto market launch in Q3 2026. The proposal is currently open for public consultation, with submission to the Nigeria — National Assembly (Nigeria)>>> planned for October 2026 and a potential effective date of July 1, 2027.