20/11/2025
In the process of digitizing the supply chain, physical goods are being considered by many organizations as a suitable object to “Tokenize” (represent in the form of digital certificates). In Vietnam, the strengths in gold, coffee, pepper, cashews, seafood, rubber, etc. open up the possibility of researching more transparent models of quantification, inspection and traceability.
In the early stages of the digital asset market, commodities are often considered to be easily accessible due to a number of favorable characteristics: clearly quantifiable (weight, specifications), having a quality standard framework, having an international reference price list and a long history of circulation. The ability to store, inspect and physically compare also makes the construction of a backup/guarantee mechanism more operationally feasible.
In the context of Vietnam's strengths in gold, coffee, pepper, cashews, seafood, rubber, etc., the survey of commodity "Tokenization" models, if implemented correctly and within the legal scope, can support process transparency, optimize supply chain operations and expand market access for participating entities.
When it comes to “Tokenizing” commodities, the key point is not only the technology but also how to control risks regarding:
RWA-oriented businesses may ask about tokenizing gold. Gold has the characteristics of being standardized, having an international reference market, and being easy to store. From a modeling perspective, the general operating process can be visualized as follows:
However, gold is a more special asset than other common assets. Therefore, it is necessary to pay attention to complying with the relevant legal framework (when there are specific regulations) and attach importance to the R&D process and risk control before considering actual operation.
Vietnam is a leader in Robusta, but the supply chain is fragmented, prices are volatile, and access to capital is difficult. At the model level, “Tokenize” coffee maybe support:
CoffeFi is intended as a research project on digitalizing coffee shipment representation and connecting data between producers – warehouses – businesses. Any extended financial functions (e.g. using digital certificates for loans, rewards…), if any, will only be considered within a suitable testing framework and with approval from the competent authority.
“Tokenizing” commodities, when approached properly and within the right framework, can become a way to improve supply chain operational efficiency, strengthen quality transparency and open up more flexible ways of connecting markets. HVA chooses a compliance-transparency-prudence approach, focusing on operations and risk management, and only considers financial features as research content until appropriate legal guidance is available.
This series of articles is for sharing knowledge and information, not for investment recommendations or financial product offerings, not for legal analysis or predictions, but focuses on sharing about technology, economics, and investment. The contents referring to regulations, if any, will be written based on existing legal principles, the parts without detailed regulations will be explained and mentioned based on experience in countries that have implemented them in practice. Readers need to proactively read and understand the current policies and legal framework of Vietnam through official documents; at the same time, need to comply with the current legal framework and only operate when specifically licensed, cautiously and responsibly towards the State, community, and society.
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