Vietnam may let SMEs use digital assets to unlock bank loans
The post Vietnam may let SMEs use digital assets to unlock bank loans appeared on BitcoinEthereumNews.com. Vietnam’s Ministry of Finance has proposed allowing small and medium-sized enterprises to use digital assets, virtual assets and intellectual property as collateral for bank loans. Summary Vietnam’s draft allows SMEs to pledge digital assets, virtual assets and IP for bank loans. SME loans reached only 20% of total credit despite firms representing 98% of businesses national. The plan pushes banks toward cash flow and credit-rating lending beyond real-estate collateral requirements alone. The proposal is part of the draft revised Law on Support for SMEs, which is open for public consultation, according to Viet Nam News. The plan would widen the type of assets that businesses can use when applying for bank loans. Under the draft, SMEs could use assets formed in the future, property rights, intellectual property rights, intangible assets, digital assets, virtual assets and other law