Southeast Asia’s blockchain sector has attracted $680 million in funding so far in 2026, more than twice the amount raised last year, even as the number of completed investment rounds has fallen significantly.
Data from market intelligence platform Tracxn shows that blockchain companies raised the $680 million through 25 funding rounds, compared with $319 million across 46 rounds in 2025. The figures indicate that investors are putting substantially larger amounts into a smaller number of companies.
One deal has had a major impact on the overall total. Crypto.com raised $400 million in a Series D financing backed by Citadel Securities in July, representing nearly 60% of all blockchain funding recorded across Southeast Asia this year.
Excluding that transaction, the other 24 funding rounds generated roughly $280 million. This suggests that the increase in regional funding has been concentrated among a limited number of established businesses rather than distributed broadly across the blockchain industry.
Funding activity also remains well below the levels seen in 2022. Investors completed 206 blockchain funding rounds that year, more than eight times the number recorded so far in 2026. Total investment reached a record $2.2 billion in 2022.
Tracxn data shows that annual blockchain funding declined to $386 million in 2023 before recovering to $804 million in 2024 and then falling to $319 million in 2025. While this year’s $680 million has already surpassed last year’s figure, it remains roughly 69% below the 2022 peak.
Crypto financial services have attracted the largest share of this year’s investment, receiving $498 million across 19 funding rounds. That represents a 48.4% increase from the comparable period last year.
Tokenization platforms ranked second with $114 million, while companies developing infrastructure for decentralized applications raised $77 million. The figures indicate continued investor interest in exchanges, payment services and financial infrastructure rather than earlier-stage blockchain projects.
The trend also reflects broader institutional interest in areas such as tokenized assets and blockchain-based financial infrastructure. In the United States, more than 50 financial firms have been involved in efforts by the Depository Trust and Clearing Corporation to develop tokenization services, while major banks including JPMorgan, Citigroup, Bank of America and Wells Fargo have explored tokenized deposit infrastructure.
Those U.S. initiatives are separate from Tracxn’s Southeast Asian funding figures, but they highlight the growing institutional focus on settlement systems, tokenized assets and blockchain-based payments.
Most blockchain companies in Southeast Asia remain at relatively early stages of development. Tracxn tracks 3,957 blockchain companies across the region, of which 1,323 have secured equity funding. However, only 167 have progressed to Series A or beyond.
The number falls further at later stages, with 50 companies reaching Series B and just 14 completing Series C rounds. Only four companies have reached Series D or later, including Crypto.com following its latest $400 million financing.
As a result, around 87% of equity-funded blockchain companies tracked by Tracxn remain below Series A. The concentration of capital at later stages is also evident from Crypto.com’s financing, which was larger than the combined $280 million raised through the other reported deals in 2026.
Southeast Asia has produced six blockchain unicorns, according to Tracxn. They include digital asset bank Sygnum, Thai cryptocurrency exchange Bitkub, blockchain gaming company Sky Mavis and crypto financial services provider Amber Group.
Sygnum surpassed a $1 billion valuation after raising $58 million in early 2025. The company operates in Switzerland and Singapore and provides institutional digital asset services including custody, trading and tokenization.
Singapore continues to dominate blockchain investment across the region. Tracxn estimates that the city-state accounts for 82.5% of Southeast Asia’s cumulative $6.2 billion in blockchain funding, equivalent to roughly $5.1 billion.
Singapore is also home to 2,285 of the 3,957 companies tracked by Tracxn, representing nearly 58% of the regional total. Jakarta ranks second among the region’s funding centers but accounts for only about 3% of cumulative investment, or approximately $186 million.
Recent developments have reinforced Singapore’s position as a regional digital asset hub. Coinbase announced in July that it planned to increase its Singapore workforce from around 150 employees to approximately 200 by the end of 2026, citing institutional demand and tokenization as areas of focus.
The country’s regulatory environment has also supported the development of licensed digital asset businesses. In November 2024, the Monetary Authority of Singapore introduced frameworks for tokenized fixed-income products and investment funds under Project Guardian, an initiative involving more than 40 financial institutions, industry groups and policymakers across seven jurisdictions.
Project Guardian had completed more than 15 trials involving six currencies and multiple financial products by the time the frameworks were announced. MAS also established the Guardian Wholesale Network with Citi, HSBC, Standard Chartered, Schroders and UOB to explore commercial applications for tokenized assets.
Blockchain exits in Southeast Asia have primarily come through acquisitions rather than public listings. Tracxn recorded 43 acquisitions across the region’s blockchain sector, compared with just four initial public offerings.
One notable transaction this year was SBI Holdings’ acquisition of Singapore-based crypto platform Coinhako after receiving approval from MAS in July. The transaction included a capital injection and share purchases from existing investors, although the companies did not disclose the stake acquired, investment value or valuation.
Founded in 2014, Coinhako operates under a Major Payment Institution licence from MAS. SBI said the platform would serve as a regulated base for digital asset services involving stablecoins, tokenized products, cross-border trading and on-chain finance between Japan and Southeast Asia.
Tracxn also identified Bybit’s acquisition of Indonesian crypto platform NOBI among the sector’s transactions this year. Together with other deals, the acquisitions highlight the preference for strategic takeovers as an exit route, with blockchain IPO activity remaining limited across Southeast Asia.
