#越南拟2026年发首批加密牌照
Vietnam, which ranks No. 4 on the Global Crypto Adoption Index, is starting to regulate the crypto industry—Southeast Asia is becoming a new Crypto frontier!
Many still think of Southeast Asia as a “digital nomad paradise,” but according to crypto data, it has already become a genuine incremental market.
Chainalysis 2025 Global Crypto Adoption Index: Vietnam ranks global No. 4, Indonesia No. 7, the Philippines No. 9, and Thailand No. 17. Over the past year, APAC on-chain transaction value grew by 69%, and Vietnam saw growth of as much as 55%.
Now Vietnam is moving this batch of “wild users” into the mainstream market.
In 2026, Vietnam will launch a pilot program for its digital asset market and will open applications for trading platform licenses. Recently, it has even begun imposing penalties on domestic investors who trade through platforms that do not hold the required licenses.
The logic behind this is simple:
Users are already here, trading volume is already here—what the government wants now is to keep exchanges, funds, and tax revenue within the country.
That’s not quite the same logic as in the U.S. or Singapore.
The U.S. is more institutionalized, and Singapore is more of a financial hub. But in markets like Vietnam, Indonesia, and the Philippines, what’s truly interesting is the combination of a massive young user base + mobile internet + stablecoins/cross-border payments + genuine crypto-native demand.
Southeast Asia, with its large young population, is worth watching for the next wave of crypto users, developers, and projects—where might new clustering effects emerge?
Vietnam issuing licenses now may simply be a signal that this trend is beginning to move from “underground traffic” toward “legitimate infrastructure.”
Vietnam, which ranks No. 4 on the Global Crypto Adoption Index, is starting to regulate the crypto industry—Southeast Asia is becoming a new Crypto frontier!
Many still think of Southeast Asia as a “digital nomad paradise,” but according to crypto data, it has already become a genuine incremental market.
Chainalysis 2025 Global Crypto Adoption Index: Vietnam ranks global No. 4, Indonesia No. 7, the Philippines No. 9, and Thailand No. 17. Over the past year, APAC on-chain transaction value grew by 69%, and Vietnam saw growth of as much as 55%.
Now Vietnam is moving this batch of “wild users” into the mainstream market.
In 2026, Vietnam will launch a pilot program for its digital asset market and will open applications for trading platform licenses. Recently, it has even begun imposing penalties on domestic investors who trade through platforms that do not hold the required licenses.
The logic behind this is simple:
Users are already here, trading volume is already here—what the government wants now is to keep exchanges, funds, and tax revenue within the country.
That’s not quite the same logic as in the U.S. or Singapore.
The U.S. is more institutionalized, and Singapore is more of a financial hub. But in markets like Vietnam, Indonesia, and the Philippines, what’s truly interesting is the combination of a massive young user base + mobile internet + stablecoins/cross-border payments + genuine crypto-native demand.
Southeast Asia, with its large young population, is worth watching for the next wave of crypto users, developers, and projects—where might new clustering effects emerge?
Vietnam issuing licenses now may simply be a signal that this trend is beginning to move from “underground traffic” toward “legitimate infrastructure.”