Hanoi (VNS/VNA) – Vietnam holds the second largest cryptocurrency market in Southeast Asia, with 122.2 billion USD over the 12 months to June 2026, a report from blockchain analytics firm Chainalysis showed.
According to the report, Singapore led the region with 284.1 billion USD.
The report focused on the crypto economy and tracked the flows and activity of Bitcoin, Ether, stablecoins and other tokens across blockchains via various channels such as centralised and decentralised exchanges, peer-to-peer (P2P) trading, cross-border flows and institutional-facing platforms from July 2025 to June 2026.
It showed that Vietnam's market has a different profile from those of other regional financial centres. Vietnam, Thailand and the Philippines stood out for P2P activity, while Singapore and Australia saw notable growth in transactions conducted through platforms serving financial institutions.
P2P transactions involve the direct transfer of assets between individuals, often through platforms that connect buyers and sellers. Such transfers can support cryptocurrency trading, remittances or payments, although transaction data alone cannot establish the purpose of individual transfers.
The Philippines, Thailand and Vietnam recorded a combined 5.4 million small-value P2P transfers of less than 10,000 USD during the period, accounting for 14.4% of the global total, despite the three countries representing just 2.5% of the world's crypto economy.
More than 80% of domestic transfers across the three markets were worth less than 1,000 USD. The average transfer was 618 USD, compared with 1,210 USD in the rest of the world.
Stablecoins are another significant part of Vietnam's digital asset market. These cryptocurrencies are designed to maintain a relatively stable value against a reference asset, most commonly the US dollar. Domestic stablecoin activity in Vietnam reached 6.9 billion USD during the period./.
VNA
