New $100M Fund Aims To Bolster Blockchain Development in Vietnam

The crypto platform seeks to offer DeFi projects liquidity incentives and achieve regulatory compliance for crypto firms

article-image

Blockworks exclusive art by Axel Rangel

share

key takeaways

  • AEX reported its user base is growing in Thailand, Vietnam, Russia, the United States and Canada
  • A recent survey by consumer insights provider Toluna found that the most receptive countries to cryptocurrency were Vietnam, the Philippines, Thailand and India

A digital asset platform has earmarked $100 million to develop the blockchain industry in Vietnam as the country’s residents have displayed a marked interest in cryptocurrencies.

The platform, AEX, plans to offer crypto financial derivatives in Vietnam, open an office and support the country’s blockchain ecosystem with the $100 million fund.

AEX Chief Brand Officer Shergina Asya said in a statement Monday that Southeast Asia is critical to the company’s further global expansion, and Vietnam is a key country within the region.

The company, founded in 2013, supports more than 300 tokens and has more than a million users.

The first $100 million will support local projects focused on the space. The company’s plans include providing high-quality decentralized finance (DeFi) projects with liquidity incentives and making crypto-financial firms compliant with regulations.

AEX also plans to launch the Vietnamese Blockchain Technology Competition and Hackathon in the second half of the year.

A spokesperson for the company did not immediately return a request for comment.

Vietnam’s Ministry of Finance established a research group last year, and the country’s prime minister later called on the country’s central bank to start working on a crypto pilot.

A recently published survey by consumer insights provider Toluna found people in developing countries have a more positive opinion of cryptocurrency than people living in richer, developed countries. The report interviewed 9,000 people between the ages of 18 and 64 years from 17 countries.

The positive attitudes were especially true in the Asia-Pacific region and Latin America, according to the survey, which noted that the most receptive countries to crypto were India, Vietnam, the Philippines and Thailand.

Forty-one percent of people in Vietnam, Indonesia and Thailand said they invested in crypto because of its potential for short-term growth.

AEX launched its globalization strategy last June and noted in December that its user base was growing in Thailand, Vietnam, Russia, the United States and Canada.

The latest announcement comes as crypto exchanges are setting up shop across the globe. 

FTX partnered with Africa-based AZA Finance to expand the adoption of Web3 and digital currencies across the continent. The exchange more recently launched FTX Australia.

Binance and FTX were also recently granted virtual asset licenses in Dubai after the emirate revealed its first cryptocurrency legislation earlier this month.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens