Fintech Sandbox

With the view to promote innovation and modernize banking, on April 29, 2025, the Government of Vietnam issued Decree No. 94/2025/ND-CP on a controlled sandbox for innovative fintech solutions in the banking sector (“Decree 94”) which will take effect as from 1 July 2025.  Decree 94 will provides for three areas where Fintech applies including credit scoring, Open API data sharing and peer-to-peer lending. 

The participants in the fintech sandbox are credit institutions and foreign bank branches and fintech companies in Vietnam. 

The State Bank of Vietnam will issue Certificate of Sandbox Participation to qualified participants.  

The maximum sandbox period is two years, with the possibility of extension as permitted by law. The outcomes of the fintech sandbox will serve as a practical basis for authorities to develop and refine future fintech regulations.  Decree 94 provides for the conditions and procedures for the issuance of the Certificate of Sandbox Participation.