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first_img Southeast Asia's crypto financing rebounds to 680 million USD, with investors focusing on mature companies

The latest report from the market intelligence platform Tracxn shows that since 2026, the Southeast Asian blockchain industry has accumulated $680 million in equity financing, more than double the $319 million for the entire year of 2025. However, this round of recovery is mainly driven by a few mature companies: only 25 rounds of financing were completed this year, compared to 46 rounds in 2025 and a peak of 206 rounds in 2022; the $400 million Series D financing of the cryptocurrency exchange Crypto.com accounted for nearly 60% of the total.From a segmented perspective, crypto financial services are the biggest beneficiaries, receiving a total of $498 million in financing this year (19 rounds), a year-on-year increase of 48.4%; tokenization platforms received $114 million, and decentralized application development platforms received $77 million. Among the 3,957 blockchain companies tracked by Tracxn, 1,323 have received equity financing, but only 167 have entered Series A and beyond, 50 have entered Series B, 14 have entered Series C, and only 4 have entered Series D and beyond.In terms of geography, Singapore dominates the Southeast Asian crypto investment market, accounting for 82.5% of the region's cumulative blockchain financing amount of $6.2 billion, and has 2,285 tracked companies, while Jakarta, ranked second, accounts for only 3%. In terms of exits, there have been 43 acquisitions and 4 IPOs in the region, including SBI Group's acquisition of the Singapore exchange CoinHako and Bybit's acquisition of NOBI. Southeast Asia has produced 6 blockchain unicorns to date, including Sygnum, Bitkub, Sky Mavis, and Amber Group.

Data: In the past day, the Ethereum network had a net inflow of 46.47 million USD, while Robinhood Chain had a net outflow of 21.07 million USD

According to Defillama data, in the past day, on-chain funds have significantly concentrated on the Ethereum mainnet and a few established Layer 1s. Ethereum saw a net inflow of $46.47 million, approximately 4.5 times that of the second place Solana; on the other hand, Robinhood Chain, Arbitrum, Hyperliquid, and others experienced a total net outflow of over $100 million, reflecting a "rebalancing of funds back to Ethereum and withdrawal from Layer 2." Robinhood Chain became the largest net outflow entity of the day.This brokerage Layer 2, which launched in July 2026 and is based on Arbitrum Orbit, has seen high trading volumes in meme and tokenized stocks over the past two months, with on-chain transaction fees at one point surpassing those of Ethereum, Solana, and Base; however, daily bridging funds have now turned into a net outflow. Arbitrum, Base, and Polygon all turned red, with the four major Layer 2s (including Robinhood) experiencing a total net outflow of approximately $69.55 million. The perpetual contract public chain Hyperliquid had a net outflow of $18.34 million, nearly on par with Arbitrum. The new chain for stablecoin settlements is also bleeding: Tether's Plasma saw an outflow of $13.27 million, while Tempo, incubated by Stripe, and Stable from the Tether ecosystem experienced outflows of $3.45 million and $2.99 million, respectively.
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