tracxn

The latest report from the market intelligence platform Tracxn shows that since 2026, the Southeast Asian blockchain industry has accumulated $680 million in equity financing, more than double the $319 million for the entire year of 2025. However, this round of recovery is mainly driven by a few mature companies: only 25 rounds of financing were completed this year, compared to 46 rounds in 2025 and a peak of 206 rounds in 2022; the $400 million Series D financing of the cryptocurrency exchange Crypto.com accounted for nearly 60% of the total.From a segmented perspective, crypto financial services are the biggest beneficiaries, receiving a total of $498 million in financing this year (19 rounds), a year-on-year increase of 48.4%; tokenization platforms received $114 million, and decentralized application development platforms received $77 million. Among the 3,957 blockchain companies tracked by Tracxn, 1,323 have received equity financing, but only 167 have entered Series A and beyond, 50 have entered Series B, 14 have entered Series C, and only 4 have entered Series D and beyond.In terms of geography, Singapore dominates the Southeast Asian crypto investment market, accounting for 82.5% of the region's cumulative blockchain financing amount of $6.2 billion, and has 2,285 tracked companies, while Jakarta, ranked second, accounts for only 3%. In terms of exits, there have been 43 acquisitions and 4 IPOs in the region, including SBI Group's acquisition of the Singapore exchange CoinHako and Bybit's acquisition of NOBI. Southeast Asia has produced 6 blockchain unicorns to date, including Sygnum, Bitkub, Sky Mavis, and Amber Group.