VIFC

Regulatory Sandboxes

Vietnam's regulatory sandbox programs for fintech, blockchain, and digital asset innovation

ActiveSince Jul 2025
SBV Fintech Sandbox
State Bank of Vietnam

Permitted Activities:

Credit scoringOpen APIs / Open BankingP2P lending platforms

Excluded:

Digital asset tradingRobo-advisoryInsurTech

Legal basis: Decree 94/2025/ND-CP

Eligibility: Limited to entities registered in Vietnam

ActiveSince Mar 2025
VIFC Da Nang Innovation Sandbox
VIFC Da Nang Authority

Permitted Activities:

FintechBlockchain & digital assetsGreen financeCross-border paymentsStablecoin pilotsDeFi protocols

Legal basis: Resolution 222/2025/QH15, Article 24

Eligibility: Domestic and international entities

ActiveSince Late 2025
Crypto Asset Pilot
National Assembly / Government

Permitted Activities:

Licensed crypto exchangesDigital asset issuanceCrypto custodyStablecoin operations

Legal basis: Resolution 05/2025

Eligibility: Minimum VND 10T (~$380M) capital, foreign ownership capped at 49%

Known Sandbox Participants

CompanySandboxCategoryStatusCity
Basal Pay (Alphatrue Solutions)VIFC Da NangCrypto Asset ConversionActiveDa Nang
MB Bank x Dunamu (Upbit)Crypto PilotCrypto ExchangePilotHanoi
Techcombank Digital AssetsCrypto PilotDigital Asset IssuancePilotHo Chi Minh City
TimaSBV FintechP2P LendingActiveHanoi
Trusting SocialSBV FintechCredit Scoring / AIActiveHo Chi Minh City
Robocash VietnamSBV FintechP2P LendingActiveHo Chi Minh City
FundiinSBV FintechBuy Now Pay LaterActiveHo Chi Minh City
Lendela VietnamSBV FintechLoan MarketplaceActiveHo Chi Minh City