Vietnam Ranks Fourth in Crypto Activity with $122.2 Billion

Vietnam's crypto market has seen significant growth in the past year, according to data from Chainalysis. Between July 1, 2025 and June 30, 2026, Vietnam recorded an estimated $122.2 billion in crypto asset activity, ranking fourth in the Central and Southern Asia, Southeast Asia and Oceania (CSAO) region.

The country's Utility Index, which measures activity related to the use of crypto assets, increased 127% from the previous period. However, its Financial Index declined 5%, suggesting that market growth was driven mainly by peer-to-peer (P2P) transactions and cross-border flows rather than institutional financial channels.

The data also showed strong P2P activity in Vietnam, the Philippines, and Thailand, with the three countries recording a combined 5.4 million domestic and cross-border P2P transfers, accounting for 14.4% of global P2P transactions.

In terms of stablecoin activity, Vietnam saw $6.9 billion in domestic transactions and $10.5 billion in cross-border transactions. Meanwhile, crypto asset activity through centralised exchanges (CEXs) in Vietnam reached approximately $69.9 billion, equivalent to 57% of the country's total crypto asset activity.