Vietnam's Crypto Market Takes Shape with Tokenization Pilot

Vietnam is taking steps to create a safer and more regulated cryptocurrency market. Starting on August 30, 2026, the country will combine a pilot program for tokenized real-world assets with new anti-money laundering rules covering crypto transactions.

The government's Resolution No. 05/2025/NQ-CP, issued in September 2025, set the pilot crypto asset market in motion and laid groundwork for a new capital-raising channel. Under this resolution, crypto assets must be backed by real-world assets and cannot include securities or fiat currencies.

The approach allows Vietnamese businesses to tokenize products and raise capital from global investors, particularly in real estate, renewable energy, infrastructure, logistics, and agriculture. Dr. Tran Quy, Director of the Vietnam Institute for Digital Economy Development and Chairman of MetaDAP, said this model links digital technology with the real economy while limiting speculative or 'empty' tokens.

Boston Consulting Group estimates that the global market for tokenized real-world assets could exceed $14 trillion by 2030, giving Vietnam significant room to grow within that space. However, licensing a single crypto asset exchange has been slow, with five companies passing the first assessment toward developing exchanges but still needing to meet Level 4 information-system security requirements and contribute at least 10 trillion VND in capital.