Vietnam Unveils Framework for Tokenizing Tangible Assets

Vietnam is opening up to the crypto market by introducing a pilot framework for digital assets. According to a government resolution issued in September 2025, Vietnamese businesses can tokenize tangible assets and attract foreign investors.

The initiative aims to bring digital asset activity under state oversight while retaining capital flows and transaction fees within the country. As part of the program, domestic businesses must issue crypto assets backed by real-world assets, excluding securities and fiat currencies.

The framework currently limits offerings exclusively to foreign investors, but industry experts believe it will eventually allow Vietnamese citizens to participate in the market as well.

Vietnam's cautious approach mirrors regulatory tightening in major digital asset markets such as the United States, Japan, and South Korea. According to Nguyen Thi Ngoc Quynh, Vietnam market director at Republic, further regulatory clarity and research into foreign investor preferences will be essential for sustained adoption.