AEX Allocates $100M Fund To Boost Vietnam’s Crypto Ecosystem

Key Insights:

• AEX launches a program to bolster crypto adoption in Vietnam. 
• Institutions and crypto organizations have been keen to monetize the growing Southeast-Asian markets. 
• Notably, demand for blockchain industries in Vietnam has increased by 140% in recent years. 

Global cryptocurrency and blockchain adoption has been rising over the last year, despite the recent rangebound price momentum displayed by top coins like BTC and ETH.

Carrying the adoption narrative forward, crypto platform AEX has earmarked a $100 million fund to aid crypto and blockchain adoption in Vietnam.

AEX Acing Adoption in Vietnam

AEX is a digital asset platform that plans to offer crypto-financial derivatives in Vietnam. On March 21, the firm announced the allocation of $100 million, called ‘green fund,’ to open an office and support the country’s blockchain ecosystem.

Additionally, AEX also aims to support the development of DeFi, GameFi, and NFT projects in Vietnam. The firm decided to embark on this journey in Vietnam after the Vietnamese displayed a heightened interest in cryptocurrencies.

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

The statement further highlights that the fund will be used for global project parties and aim to accelerate the development of the entire blockchain sector. It also notes,

“The goal is to incubate more high-quality projects, achieve regulatory compliance for crypto-financial businesses, and explore the possibilities of blockchain-related policies and regulations with regulatory authorities in various countries.”

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

Vietnam Boarding the Crypto Train

According to surveys conducted by AEX, the demand for blockchain industries in Vietnam has increased by 140% over the past few years, attracting investors and users to the space. This expansion in Vietnam aligns with AEX’s globalization strategy launched in June 2021.

AEX notes that its user base saw decent growth in Thailand, Vietnam, Russia, the United States, and Canada over the last year. Market reports show that Vietnam takes the fifth spot globally with the highest number of people eager to purchase NFT.

Thus, statistics show a rising interest in blockchain technology and cryptocurrencies in Vietnam.