New $100M Fund Aims To Bolster Blockchain Development in Vietnam

A digital asset platform has earmarked $100 million to develop the blockchain business in Vietnam because the nation’s residents have displayed a marked curiosity in cryptocurrencies.

The platform, AEX, plans to supply crypto monetary derivatives in Vietnam, open an workplace and assist the nation’s blockchain ecosystem with the $100 million fund.

AEX Chief Model Officer Shergina Asya stated in an announcement Monday that Southeast Asia is crucial to the corporate’s additional world growth, and Vietnam is a key nation inside the area.

The corporate, based in 2013, helps greater than 300 tokens and has greater than 1,000,000 customers.

The primary $100 million will assist native tasks centered on the area. The corporate’s plans embody offering high-quality decentralized finance (DeFi) tasks with liquidity incentives and making crypto-financial companies compliant with rules.

AEX additionally plans to launch the Vietnamese Blockchain Know-how Competitors and Hackathon within the second half of the 12 months.

A spokesperson for the corporate didn’t instantly return a request for remark.

Vietnam’s Ministry of Finance established a analysis group final 12 months, and the nation’s prime minister later called on the country’s central bank to begin engaged on a crypto pilot.

A just lately revealed survey by shopper insights supplier Toluna discovered folks in creating nations have a extra optimistic opinion of cryptocurrency than folks dwelling in richer, developed nations. The report interviewed 9,000 folks between the ages of 18 and 64 years from 17 nations.

The optimistic attitudes had been very true within the Asia-Pacific area and Latin America, in response to the survey, which famous that probably the most receptive nations to crypto had been India, Vietnam, the Philippines and Thailand.

Forty-one p.c of individuals in Vietnam, Indonesia and Thailand stated they invested in crypto due to its potential for short-term development.

AEX launched its globalization technique final June and noted in December that its person base was rising in Thailand, Vietnam, Russia, the USA and Canada.

The most recent announcement comes as crypto exchanges are establishing store throughout the globe. 

FTX partnered with Africa-based AZA Finance to develop the adoption of Web3 and digital currencies throughout the continent. The change extra just lately launched FTX Australia.

Binance and FTX had been additionally just lately granted digital asset licenses in Dubai after the emirate revealed its first cryptocurrency legislation earlier this month.

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