The latest data shows that the blockchain industry in Southeast Asia has raised $680 million so far in 2026, exceeding the $319 million raised throughout 2025. However, this rebound is not a sign of widespread expansion; rather, it is more reflected in a few large transactions that have pushed up the total amount, with funds concentrating towards more mature companies.
Total financing amount increases, while the number of rounds significantly decreases.
This year, Southeast Asia has seen a total of 25 blockchain financings, which is lower than the 46 in 2025 and far fewer than the peak of 206 in 2022. The increase in financing amounts and the decrease in the number of transactions indicate that investors are more cautious, and the screening process for projects has become more stringent.
Looking at historical data, Southeast Asian blockchain financing reached a high of $2.2 billion in 2022, then dropped to $386 million in 2023, rebounded to $804 million in 2024, and fell back to $319 million in 2025. The current growth in 2026 is driven more by a few large-scale financings.
Large-scale financing is concentrated in the top companies.
The report mentioned that a financing round involving Crypto.com has made a significant contribution to this year's overall figures. The company stated that the funds will be used to expand into businesses such as tokenized securities and derivatives, and to continue advancing the product layout that connects traditional markets with digital assets.
In addition to this transaction, the larger financings mentioned by Tracxn also include Edena Capital's $100 million Series D financing, as well as Startale's $50 million Series A financing. Together, these several major deals are sufficient to significantly increase the total regional financing amount.
This also indicates that current funds are not flowing widely to early-stage startups, but rather to established crypto infrastructure companies with clearer business directions and larger scales.
Cryptocurrency financial services have drawn away most of the funds.
By sector, encrypted financial services are the main source of financing in Southeast Asia. Relevant companies have received a total of $498 million in financing, involving 19 transactions, which represents a year-on-year increase of 48.4%.
In other sub-sectors, digital asset fragmentation and tokenization platforms attracted $114 million, decentralized application development platforms received $77 million, and blockchain network projects garnered $49.5 million.
These data indicate that investors are more concerned with financial market infrastructure such as payments, transactions, and tokenization, rather than more speculative crypto applications.
Singapore continues to dominate the regional market
In terms of regional distribution, Singapore remains the blockchain financing center of Southeast Asia. The country accounts for 82.5% of the total blockchain equity financing in Southeast Asia, which amounts to approximately $6.2 billion; among the 3,957 blockchain companies in the region, 2,285 are located in Singapore. Jakarta ranks second, but its financing contribution is only about 3%.
Although 1,323 blockchain companies in Southeast Asia have received institutional investment, only 167 have truly entered the Series A and subsequent stages, with only 50 entering Series B, 14 entering Series C, and a mere 4 reaching Series D and beyond.
This set of data reflects that Southeast Asia is not short of blockchain startups, but only a few are able to continue to secure follow-up funding and complete large-scale validation. For now, the resurgence in financing in 2026 seems more like a concentration of funds towards leading infrastructure companies, rather than a widespread expansion of financing fever like that seen in 2022.
