Vietnam is a strategic market for the next breakthrough phase of the crypto industry
Vietnam is currently considered a strategic market for the cryptocurrency (crypto) industry, with many significant development opportunities. According to a report from Chainalysis, the country ranks 5th globally in the cryptocurrency adoption index, with approximately 20 million citizens owning cryptocurrency assets and capital flows from the blockchain market reaching 120 billion USD by 2024, equivalent to more than 1/4 of the country's GDP.
The government's interest in blockchain technology is evidenced by the National Strategy for the Application and Development of Blockchain Technology by 2030, aiming to position Vietnam among the leading blockchain countries in the region. The Vietnam Tech Impact Summit (VTIS) 2024 also recognizes Vietnam's role as a potential hub for cryptocurrency exchanges, with a demand to maximize user experience through continuous innovation in products and services.
In addition, the dynamism of Vietnam's younger generation with blockchain technology and AI is driving strong application and development in this industry, while also facilitating the growth of startups in the new technology sector.