Southeast Asia’s crypto funding rebounds to $680 million as investors focus on mature firms

Investment in Southeast Asia’s blockchain industry has rebounded from a 2025 slump, but the recovery is being driven by a shrinking number of deals with investors concentrating capital in cryptocurrency financial services and more mature companies.

Blockchain companies have raised $680 million so far this year, more than twice the $319 million recorded for the whole of 2025, according to a new report from market intelligence platform Tracxn.

Just 25 rounds have been completed in 2026, compared with 46 in 2025. That 206 funding rounds were completed in 2022 may point toward a more consolidated funding market with a small number of mature firms attracting the bulk of investors’ capital at present.

A mammoth $400 million Series D round into exchange Crypto.com accounted for almost 60% of the year’s total.

Crypto financial services have been the biggest beneficiary of this trend in 2026, accounting for $498 million across 19 rounds, 48.4% higher year-over-year. Tokenization platforms followed with $114 million while decentralized application development platforms attracted $77 million.

The total is also well short of the $2.2 billion raised in 2022. That peak sank to $386 million in 2023, before rebounding to $804 million in 2025.

The industry’s funnel also narrows sharply beyond its earliest stages. Of 3,957 blockchain companies tracked by Tracxn, 1,323 have received equity funding, but only 167 have reached Series A or later. Fifty have reached Series B, 14 Series C and just four Series D or beyond.

Singapore dominates

Geographically, Southeast Asia’s crypto investment market basically starts and ends with Singapore.

The city-state accounts for 82.5% of the regions’s $6.2 billion cumulative blockchain funding and is home to 2,285 if the companies tracked, Tracxn said. Jakarta, Indonesia is the next largest funding hub, which accounts for just 3%.

Exits are also somewhat uneven. Tracxn counted 43 acquisitions but only four IPOs across the sector, including SBI Group’s acquisition of Singapore-based CoinHako and Bybit’s purchase of NOBI this year.

Southeast Asia has neverthless produced six blockchain unicorns, including Sygnum, Bitkub, Sky Mavis and Amber Group.

The numbers suggest the regions’s blockchain investment market has enjoyed a recovery year in 2026, but not be recreating the funding boom of 2022. Capital is clustering around financial services and mature businesses, rather than speculative early-state ventures.