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The Vietnam cryptocurrency market reached USD 9,970.8 Million in 2024 and is expected to grow to USD 22,381.3 Million by 2033, exhibiting a CAGR of 9.4% during 2025-2033. This growth is driven by increasing internet access, educational initiatives, and digitization efforts. Vietnam ranks fifth globally in crypto adoption, with blockchain technologies spurring innovation and acceptance.

Study Assumption Years

• Base Year: 2024

• Historical Years: 2019-2024

• Forecast Period: 2025-2033

Vietnam Cryptocurrency Market Key Takeaways

• The cryptocurrency market in Vietnam reached USD 9,970.8 Million in 2024.

• The market is forecast to grow at a CAGR of 9.4% through 2025-2033.

• The market is expected to reach USD 22,381.3 Million by 2033.

• Vietnam ranked fifth in the 2024 Global Crypto Adoption Index by Chainalysis.

• The rise in blockchain adoption supports innovation and increased usage.

• High smartphone penetration and internet access are accelerating growth.

• Peer-to-peer trading networks support crypto circulation even in areas lacking exchanges.

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Market Growth Factors

Internet access, educational media, and government initiatives promoted cryptocurrency's popularity within Vietnam. For cryptocurrency adoption, the 2024 Global Crypto Adoption Index ranked the country fifth. Greater connectivity will also cause people to use digital wallets and blockchain-based payment products more.

Vietnam's growing adoption of decentralized finance (DeFi) is also driving market growth. DeFi provides financial services such as lending, borrowing, and trading without intermediaries to people who are unbanked or underbanked. The Vietnamese population's adoption of DeFi protocols, stablecoins and yield aggregators is accelerating blockchain-based startups and partnerships. Despite regulatory barriers, DeFi influences Vietnam's financial integration of digital assets.

Vietnam's high rate of smartphone users and mobile internet users has encouraged the use of crypto. Millions trade with apps and use mobile wallets in Vietnam, and one of the highest mobile internet penetration rates exists there in the world. Developing a mobile-first platform expedited mass adoption, making Vietnam lead the Southeast Asian crypto ecosystem and center blockchain development.

Market Segmentation

• Type Insights: Includes bitcoin, ethereum, bitcoin cash, ripple, litecoin, dashcoin, and others. Detailed analysis provided for each type, reflecting their unique features and usage.

• Component Insights: Segmented into hardware and software, with detailed breakup and analysis provided to highlight the technology driving the market.

• Process Insights: Covers mining and transaction processes, analyzing their significance and market trends.

• Application Insights: Covers trading, remittance, payment, and others, providing a detailed assessment of the varied use cases for cryptocurrency in Vietnam.

Regional Insights

The market is segmented into Northern Vietnam, Central Vietnam, and Southern Vietnam. While specific dominant region statistics are not quantified, these comprehensive regional analyses reflect the country-wide market scope and growth potential.

Recent Developments & News

In June 2025, Vietnam's National Assembly legalized digital and crypto assets under the new Law on Digital Technology Industry, validating digital assets for exchange and investment but excluding securities and certain financial assets. In March 2025, the Ministry of Finance proposed piloting a digital currency exchange, signaling increased regulatory attention. The deputy finance minister noted the complexity of cryptocurrencies and the evolving legal frameworks internationally, underlining Vietnam's commitment to transparency and regulated growth.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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