Blockchain funding in Southeast Asia climbed 113% to $680 million in 2026, according to market intelligence platform Tracxn, even as the number of completed funding rounds fell to 25 from 46 throughout 2025. Crypto.com's $400 million investment accounted for nearly 60% of all capital raised across the region this year.

The exchange closed its Series D round in July with backing from Citadel Securities. The remaining 24 rounds raised roughly $280 million combined — less than the amount Crypto.com secured in that single transaction. The pattern points to a concentration of capital in a handful of large, later-stage deals rather than broad-based growth in early-stage activity across the region.

MILESTONE 🌏 | South-East Asia Crypto Funding in H1 2026 More Than Double the Entire of 2025 Singapore remains the dominant funding hub, accounting for 82.5%. Capital is increasingly flowing toward financial infrastructure, tokenization, and companies that have already reached… pic.twitter.com/84GOtYt7Z2 — BitKE (@BitcoinKE) September 5, 2026

This year's total has already surpassed the $319 million raised during all of 2025, although the 2026 figures cover only the year to date, while the earlier total reflects a full twelve months.

On a per-deal basis, the average round reached $27.2 million in 2026, versus roughly $6.9 million in 2025. The calculation divides each year's total blockchain funding by its reported deal count. That jump in average deal size reflects both the Crypto.com outlier and the sharper decline in round count than in total capital.

What Drove the Rise in Funding?

Blockchain-based financial services captured the largest share of investment, raising $498 million across 19 transactions. Tracxn also reported $114 million invested in tokenization platforms and $77 million in decentralized application development platforms. The emphasis on financial infrastructure and tokenization mirrors broader institutional interest in putting traditional assets on blockchain rails.

Funding levels for regional blockchain start-ups nonetheless remain well below the all-time high set in 2022, when start-ups raised $2.2 billion across 206 funding rounds. Funding slumped to $386 million in 2023, recovered to $804 million in 2024, and declined again in 2025. This year's figure remains more than 69% below the record, and the number of deals in 2022 was almost nine times higher than the 2026 count. Whether the rebound extends beyond a few large rounds into a recovery in deal count will shape the trajectory of the region's start-up ecosystem.

Elsewhere, the Depository Trust and Clearing Corporation is developing a tokenization service in collaboration with more than 50 American financial institutions. JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., and Wells Fargo & Company are also building tokenized deposit infrastructure.

Who Has Reached Later Funding Stages?

According to Tracxn, Southeast Asia is home to 3,957 blockchain funding firms, of which 1,323 have equity investment. Only 167 have reached Series A or beyond, meaning nearly 87% of equity-funded firms remain at an earlier stage.

Within that group, 50 firms have achieved Series B and 14 have closed Series C rounds. Only four companies have progressed to Series D or beyond, including Crypto.com with its recent round. The thin later-stage pipeline means headline funding figures can swing substantially on a single large transaction, as 2026 illustrates.

The region counts six blockchain unicorns, including Sygnum, Bitkub, Sky Mavis, and Amber Group. Sygnum crossed the billion-dollar valuation mark after recently raising $58 million.

Where Is Regional Capital Concentrated?

Singapore accounts for 82.5% of Southeast Asia's cumulative $6.2 billion in blockchain investment — approximately $5.1 billion. The city-state is also home to 2,285 tracked entities, about 58% of the regional total. Jakarta ranks second with a 3% share of cumulative investment, or roughly $186 million. Both figures are based on investment made to date rather than shares of the 2026 total alone.

In July, Coinbase announced plans to expand its Singapore office headcount from around 150 to roughly 200 by the end of the year, citing institutional demand and tokenization among its focus areas.

Singapore also hosts regulatory frameworks for tokenized fixed income products and investment funds, launched by the Monetary Authority of Singapore in November 2024 as part of Project Guardian. That initiative involved more than 40 financial institutions, industry bodies, and policymakers from seven jurisdictions, and had carried out over 15 trials using six different currencies. The MAS has additionally established the Guardian Wholesale Network, which includes Citi, HSBC, Standard Chartered, Schroders, and UOB. These regulatory frameworks are frequently cited as a factor drawing blockchain firms to incorporate and raise capital in the city-state.

How Are Companies Exiting the Market?

Beyond funding, Tracxn identified 43 acquisitions in the space against only four initial public offerings. The tilt toward acquisitions over public listings suggests consolidation, with larger players absorbing regional platforms, is the more common path for investors and founders to realize returns.

In its 2026 report, Tracxn highlighted the acquisitions of Coinhako by SBI Holdings and NOBI by Bybit.

The Coinhako acquisition was completed after the MAS approved the purchase in July. It involved a new equity investment alongside the buyout of existing equity in the company. Founded in 2014, Coinhako holds an MAS license as a major payment institution. SBI described the firm as a regulated foundation for launching stablecoins, tokenized assets, cross-border trading, and on-chain financing between Japan and Southeast Asia.