Vietnam ranks 2nd globally in crypto ownership rate

By Khuong Nha   May 12, 2024 | 08:33 pm PT
Vietnam ranks 2nd globally in crypto ownership rate
An investor looks at cryptocurrency data on a trading platform. Photo by VnExpress/Khuong Nha
Vietnam ranks second globally in the ratio of the population with cryptocurrency ownership, according to a report by payment platform Triple-A.

Around 21.2% of the Vietnamese population owns crypto, second only to that of the U.A.E at 34.4%.

The U.S. came third, followed by Iran, the Philippines and Brazil.

Vietnam ranks 2nd globally in crypto ownership rate

Triple-A said since the Vietnamese government does not ban cryptocurrency ownership this asset has become desirable for many.

Data from Triple-A and other organizations shows cryptocurrencies have become a new type of asset that is loved by young people, Le Thanh, founder of blockchain startup Ninety Eight, said.

A survey last December by cryptocurrency data provider Coin98 Insights found that 47% of Vietnamese cryptocurrency owners were in the 26-36 age group, and 38% in the 18-25 group.

Data from blockchain researcher Chainalysis shows that Vietnamese cryptocurrency investors earned a total of US$1.18 billion last year, the third highest globally.

U.S. newspaper The Wall Street Journal reported that Vietnamese traded $20 billion in cryptocurrencies in May 2023 on the Binance platform, the fourth highest in the world.

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