Vietnam scraps fintech sandbox rule requiring banking experience

Vietnam’s fintech regulatory sandbox no longer requires startup founders to hold both a technology background and banking management experience. A decree issued on October 6, 2026, removes the dual qualification rule that previously barred many tech entrepreneurs from leading sandbox participants.

The change follows Decree 382, which ends the requirement for founders to demonstrate expertise in both domains. Until now, the rule effectively excluded founders without formal banking experience, even if they had built scalable fintech products. Industry observers had flagged the requirement as a bottleneck for early-stage startups seeking to test new financial services under regulatory supervision.

The adjustment aligns Vietnam’s sandbox more closely with emerging markets that prioritize technical execution over sector-specific credentials. When we covered Egypt’s fintech sandbox partnership with the Startup Egypt Foundation in September, the focus was on regulatory guidance and funding access—areas where Vietnam’s new decree could similarly ease entry for founders. Unlike Egypt’s collaboration model, however, Vietnam’s change is unilateral and does not involve external startup support organizations.

What remains unclear is whether the removal of the experience requirement will translate into a surge of new sandbox applicants. India’s fintech sector, which we reported on last month, faced a slowdown due to funding gaps and fewer new startups—factors that Vietnam’s regulatory shift alone may not address. The next test will be whether the country’s fintech ecosystem can attract fresh talent and capital to capitalize on the relaxed rules.

Sources: msn.com