Southeast Asia’s blockchain technology sector has raised $6.2 billion in all-time equity funding across 1,323 funded companies year to date, including $680 million in 2026 year to date, Tracxn said on Thursday.
Annual funding reached $2.2 billion in 2022 before declining to $386 million in 2023, recovering to $804 million in 2024, and easing to $319 million in 2025 and $680 million in 2026 year to date, the firm said in a report.
The sector recorded a five-year funding compound annual growth rate (CAGR) of -10 percent, while the three-year CAGR was +21 percent.
Deal activity has also declined, from 206 rounds in 2022 to 46 in 2025 and 25 in 2026 year to date.
The decline has been most visible at the seed stage, while a small number of late-stage companies have continued to raise larger rounds.
Crypto financial services has emerged as the largest funding segment, while capital remains concentrated in Singapore and at the earliest stages, with few companies progressing beyond Series A,
According to the report, over the past year, crypto financial services attracted $498 million across 19 rounds, the highest funding among the sector’s segments and a 48.4 percent increase year-on-year.
Digital Asset Fractionalization Platforms followed with $114M across three rounds, while Dapp Development Platforms attracted $77.0M and Blockchain Network $49.5 million.
The largest recent round was CRYPTO’s $400 million Series D in July 2026, which alone accounts for well over half of the year’s capital. Edena Capital’s $100 million Series D and Startale’s $50 million Series A were also among the largest rounds during the period.
Of the 3,957 tracked companies, 1,323 have raised institutional funding, with 167 reaching Series A or beyond, 50 Series B or beyond, 14 Series C or beyond, and just 4 Series D or beyond.
The sector has produced six unicorns and maintains a pipeline of soonicorns and minicorns, including 60 soonicorns and 124 minicorns within the Crypto Financial Services model.
Singapore accounts for 82.5 percent of total funding and 2,285 of the 3,957 tracked companies. Jakarta follows at 3 percent, with Mandaluyong, Metro Manila, Makati and Bali each contributing around 1 percent of funding. Bangkok, Kuala Lumpur and Ho Chi Minh City are also among the key blockchain hubs in the region, each hosting more than 120 companies.
The region has produced six blockchain unicorns – Sygnum, Polyhedra Network, Multichain, Bitkub, Sky Mavis and Amber Group – compared with 95 globally.
These companies reached billion-dollar valuations in an average of 1.7 years from Series A, against the global average of 5.5 years, and on $47.7 million of prior funding compared with the global average of $117 million.
The sector has recorded 43 acquisitions compared with 4 initial public offerings (IPOs), with companies reaching acquisition in an average of 6.2 years from first funding and an average acquisition price of $54.9 million.
Recent acquisitions include SBI Group’s purchase of CoinHako and Bybit’s acquisition of NOBI, both in 2026, while the largest disclosed deals are CGCX at $153 million and Satang at $103 million.
On the public markets, Antalpha listed in May 2025 and Tridentity in September 2024.
Acquirers are largely headquartered outside Southeast Asia, including SBI Group, Bybit and Consensys, making acquisitions the more common exit route for blockchain companies in the region.
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