$680M Blockchain Funding Surge in Southeast Asia Driven by Large Checks

Southeast Asia's blockchain companies have raised $680 million in funding this year, more than double the total for last year. This increase comes despite a significant decline in the number of completed funding rounds, from 46 to just 25.

The majority of this funding came from a single deal: Crypto.com's $400 million Series D round, which accounted for nearly 60% of all blockchain funding recorded in Southeast Asia this year. Without this transaction, the remaining 24 rounds would have brought in around $280 million.

Crypto financial services were the largest recipient of funding, with companies in this segment raising $498 million through 19 rounds. Tokenization platforms followed closely behind, securing $114 million in funding. Meanwhile, platform providers for decentralized applications received $77 million.