Vietnam’s crypto investors remain cautious but hopeful for market uptick

Vietnam’s crypto market is maturing rapidly, with investors calling for more structured governance, a report by Kyros Ventures, Coin68 and Animoca Brands has found. Three-quarters of Vietnamese investors now support crypto regulation, despite the government not considering crypto as legal tender […]

article-image

Efired/Shutterstock, modified by Blockworks

share

Vietnam’s crypto market is maturing rapidly, with investors calling for more structured governance, a report by Kyros Ventures, Coin68 and Animoca Brands has found.

Three-quarters of Vietnamese investors now support crypto regulation, despite the government not considering crypto as legal tender and providing a relatively benign regulatory environment. 

The report, shared with Blockworks and based on a survey of 3,000 industry respondents, also found that investor behavior remains cautious yet optimistic. 

While over 70% believe the current downtrend in the market is near its end, nearly 60% of investors maintain more than half of their portfolio in stablecoins. 

The Southeast Asia nation ranks #1 in crypto adoption, according to Chainalysis studies from 2021 and 2022. 

Vietnam’s burgeoning tech talent and high crypto adoption rates also make it an attractive destination for foreign projects seeking to tap into the region’s growing market.

Projected revenue from crypto exchanges in Vietnam is expected to reach $109 million by year’s end, with that figure tipped to grow 16.8% annually over the next four years.

Advancements are also being made in blockchain infrastructure projects and decentralized finance, the survey found, singling out eight projects including Aura Network and Firebird.

Despite the progression, Vietnamese investors are clamoring for greater oversight in a country found to be relatively hands-off in its approach to digital assets.

While it is illegal to trade crypto in the country, Vietnam still lacks significant regulatory frameworks governing their use, as well as for trading.

As a result, the survey found over 70% of respondents favor some form of regulatory oversight.

Specifically, 33.4% support regulations for large centralized exchanges, while 24.6% advocate broader regulations that encompass exchanges, crypto companies, and individual investors.

The country is also taking steps to bolster its domestic blockchain education offerings in an attempt to prepare crypto-savvy workers to meet increasing demand. 

Among the nine educational institutions offering blockchain courses, education center FuniX, the University of Technology and the Vietnamese branch of Australian university, RMIT, rank as the most dominant, the survey found.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

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.

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.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

LayerZero’s Bryan Pellegrino chatted with Blockworks about the firm’s next steps and its 10-year runway

article-image

Colosseum co-founder Matty Taylor is seeing “high-performance [Solana] founders showing a lot of interest in private trading technology”

article-image

Executives weigh the growth potential they see in the public stock and private credit/equities arenas

article-image

Players can stake ME, trade tokens and link wallets to climb the leaderboard