Vietnam Surges in Global Crypto Adoption Index Driven by Youth and Regulation

Vietnam’s crypto ecosystem is rapidly maturing, driven by a young, digitally native population, emerging regulatory clarity, and a growing number of enterprise-level players entering the scene. With a population of over 101 million, nearly half of whom are between 15 and 44 years old, the country is witnessing strong grassroots adoption of digital assets. Vietnam ranks fifth globally in the 2024 Global Crypto Adoption Index by Chainalysis, trailing only India, Nigeria, Indonesia, and the United States [1]. This rise is not only a reflection of technological readiness but also of financial necessity: with an average monthly income of around US$320, many Vietnamese see crypto as a tool for wealth growth and alternative value storage [1].

The government is also showing increasing openness and support for the crypto industry. The 2026 Law on Digital Technology is a major step toward formalizing the regulatory framework for digital assets [1]. Symbolically, Vietnam’s commitment is further highlighted by the announcement of GM Vietnam, a flagship crypto event to be held at the National Convention Center in Hanoi in August 2025. This venue, which has previously hosted major national and regional events like the 16th ASEAN Summit and the National Congresses of the Communist Party of Vietnam, underscores the government’s endorsement of the digital asset sector [1].

Vietnam’s crypto user base is young and diverse. As of 2022, approximately 70% of crypto owners in the country were aged 18 to 34, and about one in five Vietnamese crypto holders owns Bitcoin [1]. The widespread adoption is also fueled by the presence of over 530,000 developers, many of whom are engaged in building blockchain infrastructure and decentralized applications [1]. GameFi, particularly through projects like Axie Infinity, has played a significant role in expanding crypto’s reach. Sky Mavis, co-founded by Trung Nguyen, has helped introduce play-to-earn gaming to the working class, making crypto more accessible to the broader population [1].

International firms are taking notice. HashKey Group, a prominent digital asset company based in Hong Kong, sees Vietnam as the next major frontier in compliant, innovation-driven crypto growth. The firm’s Managing Director and Head of Global Expansion, Ben El-Baz, will deliver the keynote at GM Vietnam and participate in a panel discussion on unlocking the country’s potential through enterprise-grade solutions [1]. HashKey Group is leveraging its regulatory expertise from Singapore and Hong Kong to help Vietnam build a robust and trustworthy digital asset ecosystem [1].

Vietnam is well positioned to follow in the footsteps of its regional peers like Singapore and Hong Kong, which were key players in the original “Four Asian Tigers” of late 20th-century economic growth. Now, with its strong tech talent, regulatory momentum, and widespread user adoption, Vietnam has the potential to become the next Digital Dragon—an economy defined not by traditional industrialization but by Web3 innovation and decentralized participation [1].

Vietnam’s crypto rise is not just a market trend—it is a cultural and generational shift, supported by both bottom-up demand and top-down institutional backing. As the country moves toward formalizing its regulatory landscape and attracting global players, it is setting the stage for a new era of digital economic growth in Southeast Asia [1].

Source: [1] Vietnam’s Crypto Rise: Youth, Talent, and a New Regulatory Era (https://coinmarketcap.com/community/articles/68933efff7fda44c0c6660df/)