For years, crypto holders had a strange problem: they could be asset-rich on-chain but credit-poor in the real world.
This proposal is essentially acknowledging that digital assets have become too significant to ignore.
The real opportunity isn’t custody.
It’s capital efficiency.
Instead of selling crypto to fund growth, SMEs may be able to borrow against it and keep their long-term exposure.
To me, this isn’t a story about banks versus crypto.
It’s about transforming dormant crypto wealth into productive business capital.
If executed well, Vietnam could become one of the first markets where crypto evolves from a speculative asset into a practical financing tool for entrepreneurs.
NEW: Vietnam's Ministry of Finance has proposed letting SMEs pledge digital assets and intellectual property as collateral for bank loans.
SMEs are over 98% of the country's businesses.