Vietnam is quickly becoming a hotbed for cryptocurrency, with a recent report revealing that 16.6 million Vietnamese citizens own digital currencies, making up around 17% of the country’s population. Bitcoin is the most popular cryptocurrency, with 31% of investors choosing to invest in it.

This research has placed Vietnam as the world’s cryptocurrency adoption leader, according to the “2022 Global Crypto Adoption Index” conducted by Chainalysis. Vietnam scored a perfect 1.000, followed by the Philippines with 0.753 and Ukraine with 0.694.

Apart from a large number of crypto investors, Vietnam is also home to several blockchain projects focusing on GameFi, NFTs, and Web3.

Vietnamese entrepreneurs have founded seven of the top 200 blockchain organizations worldwide, including popular blockchain-based games like Axie Infinity, Coin98, and Kyber Network.

Axie Infinity, one of the most popular blockchain games, has seen a significant increase in users, with a peak of nearly three million at the start of 2022.

Despite suffering a hack that drained over $600 million worth of digital currencies from Ronin Network, the Ethereum-linked sidechain powering the game, Axie Infinity improved its security policy and restarted operations three months later.