With perceived flexible regulations, foreign-friendly incentives, and fintech sandboxes, Vietnam’s International Financial Centre (IFC) is becoming a magnet for both global and local digital asset players seeking growth and compliance in one of Asia’s largest crypto markets.

Vietnam’s crypto market value topped US$220 billion, placing the country third in the Asia-Pacific (APAC) region.

The cryptocurrency market in Vietnam remained bleak in 2023, resulting in a lack of profitability for nearly 65% of investors. Among them, a significant 43.6% of investors experienced losses, according to the Vietnam Crypto Market Report 2023 by Coin98 Insights.

VOV.VN - Despite experts issuing frequent warnings about the possible risks relating to the use of cryptocurrencies, especially cybercrime linked to Bitcoin, the use of the digital currency is once more booming again domestically as investors try to reap the benefits of the online asset.