Vietnam's Finance Ministry Drafts Law Letting SMEs Pledge Digital and Virtual Assets as Bank Loan Collateral
Vietnam's Ministry of Finance has published a draft amendment to the Law on Support for Small and Medium Enterprises that would allow SMEs to pledge digital assets, virtual assets and intellectual property as collateral when securing bank loans. The public consultation window ran from May 25 to May 29 and has now closed; the ministry plans to submit the draft to the National Assembly in October 2026, with a planned effective date of July 1, 2027 if it is approved. The draft also redefines an SME as a business with annual revenue not exceeding VND400 billion (about US$15.2 million) and no more than 300 employees.
The motivation is a structural credit gap. SMEs make up more than 98 percent of Vietnam's enterprises but receive only around 20 percent of total bank credit, an imbalance the ministry attributes to a lack of land or physical assets to pledge. Beyond widening the collateral list, the draft would require lenders to weigh credit rating, cash flow and business plans rather than focusing on assets alone. The proposal lands alongside Vietnam's separate plan to launch a regulated crypto-asset market by the third quarter of 2026 and aligns with Resolution 68-NQ/TW, which positions the private sector as central to the economy.
Google Cloud Opens a Southeast Asia–Silicon Valley AI Startup Corridor With 25 Firms and Up to US$350,000 in Credits Each
On May 25 Google Cloud launched the Google for Startups Accelerator: Southeast Asia, an equity-free, three-month program for an inaugural cohort of 25 seed-to-Series-B AI startups drawn from six markets — Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam — beginning in August 2026. The program is run with Enterprise Singapore, Indonesia's Ministry of Communication and Digital Affairs (Komdigi), the Vietnam National Innovation Center and Ho Chi Minh City's Startup and Innovation Hub. Each selected founder receives up to US$350,000 in cloud credits, early access to Google's Gemini 3.5 models, technical residencies in Silicon Valley and Singapore, hands-on bootcamps and engineering advisory.
Google says its accelerator programs have supported more than 200 early-stage Southeast Asian startups since 2018, helping them raise a combined US$6.6 billion and create 11,300 jobs. The new cohort concludes with a demo day and startup summit in Singapore.
Singapore Sits at the Center of Asia's US$12.5 Trillion Stablecoin Year as Local Crypto Ownership Climbs
Asia accounted for US$12.5 trillion in stablecoin transaction volume in 2025, a 67 percent jump from US$7.5 trillion the prior year and the highest of any region, according to a CoinDesk Indices analysis published on May 28. Within the region Singapore stands out on adoption: the analysis cites 61 percent of finance-forward Singaporeans holding crypto and Gen Z ownership doubling from 18 percent to 36 percent in a single year, with the city-state home to over 700 fintech firms and more than 300 Web3 companies.
The figures land as Singapore advances its tokenised-bill pilot and prepares stablecoin legislation, and as neighbours including Thailand, Vietnam, Indonesia and the Philippines build out their own digital-asset frameworks. The hub role is contested: Hong Kong issued its first two stablecoin licences in early 2026 to HSBC- and Standard Chartered-led groups, putting a direct competitor on the board.
Eyes on the Day Ahead
Over the next few days, watch Vietnam's Ministry of Finance digest feedback from the May 25–29 SME-collateral consultation as it readies an October submission, and track whether its separate Q3 2026 regulated-crypto-market framework — which must supply the legal definitions and custody rules the collateral plan depends on — stays on schedule. In Singapore, watch for further detail on MAS's tokenised-bill pilot and stablecoin legislation as Hong Kong's first licensed issuers begin operating. Selection for Google Cloud's Southeast Asia accelerator runs ahead of the August start.
Layer 7 Ventures is a research-driven firm focused on AI and cryptocurrency in Southeast Asia. Views expressed are those of the firm and do not constitute investment advice.
