Vietnam Cryptocurrency Market

Vietnam Cryptocurrency Market Summary:

Vietnam cryptocurrency market size reached USD 9,970.8 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 22,381.3 Million by 2033, exhibiting a growth rate (CAGR) of 9.4% during 2025-2033. Rising internet access, educational initiatives, and efforts to digitize the economy are fueling market growth. Vietnam ranked fifth in the 2024 Global Crypto Adoption Index by Chainalysis, with the rapid rise of blockchain in Vietnam further boosting innovation and adoption.

Cryptocurrency is a virtual or digital currency that employs cryptography for security. It is decentralized and typically operates on a technology called blockchain, which records all transactions across a distributed network of computers, ensuring transparency and security. It is available in multiple types, including bitcoin (BTC), ethereum (ETH), ripple (XRP), and litecoin (LTC), each with unique features and uses. It provides lower transactional costs compared to traditional banking and payment systems. It enables faster transaction processes than traditional bank transfers, especially for international transactions. It allows users to retain complete ownership and control over their holdings, reducing the chance of intervention from banks or the government. It grants financial services to those who are underbanked or unbanked, increasing financial inclusion. It is secure and resistant to fraud or hacking and is accessible around the clock, which makes it useful for businesses and traders in different time zones. It is utilized for online purchases, making transactions faster and more convenient.

Vietnam Cryptocurrency Market Trends:

Expanding Role of DeFi in Vietnam

Vietnam is witnessing a rapid shift towards decentralized finance (DeFi), driven by its growing community of developers, investors, and retail users. DeFi platforms provide alternatives to traditional banking, offering lending, borrowing, and trading services without intermediaries. The Vietnam crypto market is particularly receptive, given limited access to conventional financial infrastructure for certain segments of the population. Local users are adopting DeFi protocols to maximize returns, access stablecoins, and explore yield farming opportunities. This demand has encouraged new blockchain startups and partnerships within the country. However, regulatory clarity remains a challenge, as authorities balance innovation with risk management. Overall, DeFi is shaping the way digital assets are integrated into Vietnam’s financial ecosystem.

Smartphone Connectivity Fueling Crypto Adoption

Vietnam’s high smartphone usage and strong internet penetration are creating fertile ground for cryptocurrency in Vietnam adoption. The country ranks among the top globally for mobile internet access, which has allowed millions of users to explore digital wallets, trading apps, and blockchain-based payment systems. With most transactions taking place online, mobile-friendly platforms play a crucial role in expanding crypto accessibility to both urban and rural populations. Startups and exchanges are tapping into this mobile-first environment by designing user-friendly apps with simple onboarding. The ease of access is accelerating mainstream adoption and enabling blockchain in Vietnam to become one of Southeast Asia’s most vibrant crypto ecosystems. This mobile-driven growth positions the country as a testbed for new blockchain-based financial solutions.

Vietnam’s High Crypto Ownership Rates

Vietnam consistently ranks among the leading countries for cryptocurrency ownership, with millions of people holding digital assets. This trend reflects both investment interest and the use of crypto as a hedge against currency fluctuations. Many Vietnamese view digital assets as a store of value and an opportunity for wealth creation outside traditional banking. The younger population, in particular, shows enthusiasm for experimenting with Vietnam Bitcoin, Ethereum, and emerging altcoins. Peer-to-peer trading networks are also popular, supporting the circulation of cryptocurrencies even in areas with limited access to exchanges. High ownership rates not only showcase growing confidence in cryptocurrency Vietnam but also push policymakers to consider clearer regulatory frameworks for managing the fast-growing Vietnamese crypto sector.

Vietnam Cryptocurrency Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, component, process, and application.

Type Insights:

• Bitcoin
• Ethereum
• Bitcoin Cash
• Ripple
• Litecoin
• Dashcoin
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes bitcoin, ethereum, bitcoin cash, ripple, Litecoin, dashcoin, and others.

Component Insights:

• Hardware
• Software

A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes hardware and software.

Process Insights:

• Mining
• Transaction

The report has provided a detailed breakup and analysis of the market based on the process. This includes mining and transaction.

Application Insights:

• Trading
• Remittance
• Payment
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes trading, remittance, payment, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Cryptocurrency Market News:

• In June 2025, Vietnam’s National Assembly officially legalized digital and crypto assets under the new Law on Digital Technology Industry. The law classified digital assets, including virtual assets, as valid for exchange or investment. However, these do not cover securities, digital versions of legal currency, or financial assets defined under civil and financial law, marking a key regulatory step for Vietnam’s cryptocurrency market.
• In March 2025, Vietnam’s Ministry of Finance drafted a proposal to pilot a digital currency exchange. The deputy finance minister stressed that cryptocurrencies remain complex and relatively new, with many nations still shaping legal frameworks to ensure transparency and foster growth. This move signals Vietnam’s growing commitment to regulating and exploring opportunities in the cryptocurrency market.

Vietnam Cryptocurrency Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam cryptocurrency market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam cryptocurrency market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam cryptocurrency industry and its attractiveness.
• A competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.