Southeast Asian Blockchain Funding Doubles to $680M Amid Fewer Deals

Blockchain companies in Southeast Asia have seen a significant increase in funding this year, with $680 million raised across 25 rounds. This marks more than double the total for last year, despite a sharp decline in the number of completed deals.

The majority of this funding came from 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 investment, the remaining 24 rounds would have brought in around $280 million.

Crypto financial services received a significant portion of the total funding, collecting $498 million across 19 rounds. Tokenization platforms ranked second with $114 million, followed by decentralized application development platforms with $77 million.

Singapore remains the largest hub for blockchain investment in Southeast Asia, accounting for 82.5% of the region's cumulative $6.2 billion in funding. The city-state is also home to nearly 58% of the regional total of companies tracked by Tracxn.