Digital Assets in Southeast Asia: Why the Region Leads Adoption — and How Vietnam Sets the Stage
Southeast Asia has become one of the most dynamic regions on earth for digital-asset adoption. Across the ten ASEAN economies, millions of young, mobile-first users are embracing cryptocurrencies, stablecoins, and tokenized assets as tools for saving, investing, and sending money. Vietnam, the Philippines, and Thailand consistently rank among the world’s top ten countries for crypto adoption according to Chainalysis, with Indonesia and Malaysia not far behind.
Behind these numbers is a story of financial inclusion, innovation, and trust in technology. From remittances and mobile banking to blockchain gaming and digital payments, Southeast Asians are using digital assets to participate in the global economy faster than traditional systems allow.
As regulation catches up with reality, the region is entering a new phase—one driven by compliance, consumer protection, and institutional investment. Vietnam’s landmark 2025 Digital Technology Industry Law marks a turning point, transforming what was once a gray market into a regulated industry.
For Vemanti Group (VMNT)—a U.S.-listed fintech focused on digital banking and compliant digital assets—this evolution creates a generational opportunity. Through its majority-owned platform ONUS, VMNT is positioning itself to bridge U.S. financial standards with Southeast Asia’s booming digital economy.
Why Southeast Asia Leads the World in Digital-Asset Adoption
More than half of ASEAN’s 670 million people are under 35. Smartphones are their first—and often only—connection to financial services. With easy access to mobile wallets and trading apps, crypto ownership rates in the region are three to five times higher than the global average.
In Vietnam, roughly one in five adults now owns or uses digital assets. The Philippines, Indonesia, and Thailand show similarly high engagement. For millions, crypto is not an abstract investment—it’s a practical financial tool.
Over 250 million adults in ASEAN remain unbanked, according to the World Bank. Yet mobile-money and digital-asset apps give them instant access to global value transfer. The Philippines, which receives about $39 billion in annual remittances, illustrates this perfectly: overseas workers use crypto and stablecoins to send funds home in minutes, avoiding traditional remittance fees that can reach 8–10%. Vietnam follows a similar pattern, with remittance inflows of roughly $14 billion annually increasingly supported by digital-wallet infrastructure.
Far from resisting digital assets, many ASEAN governments are now shaping the frameworks for them. Singapore has formalized licensing under its Payment Services Act, Thailand offers full licensing for exchanges under SEC supervision, Indonesia has transferred crypto oversight to its financial regulator (OJK), and Vietnam has moved from prohibition to legalization. This regulatory momentum signals that the digital-asset economy is here to stay.
Vietnam: From Gray Zone to Regulation
For years, Vietnam’s crypto industry thrived in a legal vacuum. Citizens traded billions of dollars in digital assets each year without formal oversight, making Vietnam a global adoption leader but leaving consumers unprotected.
That changed in June 2025, when the National Assembly passed the Law on Digital Technology Industry—the country’s first legislation recognizing digital assets. Effective January 2026, the law defines ‘virtual assets’ and ‘crypto assets,’ establishes licensing standards for exchanges and custodians, and aligns Vietnam with FATF anti-money-laundering principles.
The government’s goal is clear: turn a high-adoption market into a regulated innovation hub. Incentives for blockchain and fintech startups are being introduced, and the State Bank of Vietnam is studying pilot programs for licensed exchanges.
For ONUS, founded in Vietnam and now majority-owned by VMNT, this regulatory clarity is transformative. ONUS already serves over four million verified users, offering access to hundreds of digital assets through a secure, mobile-first platform. Under VMNT’s stewardship, ONUS will be among the first to operate fully within Vietnam’s new legal framework—combining local market trust with international compliance standards.
Philippines: Crypto + Remittances
Few countries illustrate crypto’s real-world utility better than the Philippines. With a population of 114 million and one of the world’s largest diasporas, the nation’s economy runs on remittances. The Bangko Sentral ng Pilipinas (BSP) recognized this early, licensing ‘Virtual Asset Service Providers’ (VASPs) as far back as 2017 and encouraging pilots of peso-backed stablecoins for domestic transfers.
Although the BSP has maintained a temporary moratorium on new licenses through 2025, its policy direction is supportive: regulate, don’t restrict. Meanwhile, the Securities and Exchange Commission has introduced 2025 guidelines requiring all crypto platforms to register, maintain capital buffers, and disclose risk—mirroring international best practices.
On the consumer side, crypto adoption remains among the world’s highest. Filipinos use digital assets not only for trading but for remittances, gaming income, and small business payments.
Indonesia: Regulated Scale
Indonesia is ASEAN’s largest economy and, potentially, its largest digital-asset market. More than 13 million Indonesians already own cryptocurrency, despite strict past rules that treated it purely as a commodity. That era is ending with the Financial Sector Reform Law (P2SK), passed in 2023, which transferred oversight from the commodities regulator BAPPEBTI to OJK, the Financial Services Authority, effective January 2025.
OJK’s upcoming regulations will streamline licensing, mandate transparency, and open pathways for banks and fintechs to collaborate with crypto platforms. Indonesia has also launched a national crypto exchange and clearinghouse to standardize trading. With a population of 270 million and a youthful digital culture, Indonesia combines scale and supervision—an ideal environment for compliant platforms like VMNT and ONUS.
Thailand: Structured Innovation
Thailand offers one of the most mature crypto frameworks in Asia. Since 2018, the Royal Decree on Digital Asset Business has required all exchanges and brokers to obtain SEC licenses and follow strict investor-protection rules. In 2023, the Thai SEC banned crypto lending products and introduced mandatory risk disclosures for all trading customers. At the same time, the government waived VAT on crypto trades and permitted institutional exposure to Bitcoin ETFs listed abroad.
This balanced model—tight consumer safeguards alongside open institutional experimentation—illustrates how Southeast Asia is professionalizing the sector. For VMNT, Thailand provides a template: growth through regulation, not despite it.
The Road Ahead: A Converging ASEAN Digital-Asset Ecosystem
Across ASEAN, digital assets are moving from speculation to infrastructure. Regulators are converging on similar goals—licensing exchanges, regulating stablecoins, and integrating CBDCs—to ensure innovation happens safely. This convergence is already creating opportunities for cross-border collaboration, from linked payment systems to regional stablecoins for remittances and trade.
VMNT’s advantage lies in its dual identity: a U.S.-listed company committed to compliance and transparency, and an ASEAN-based operator deeply embedded in local markets. By combining U.S. governance standards with Southeast Asian adoption momentum, VMNT aims to become a trusted bridge between global capital and emerging-market consumers. Its ecosystem—spanning the ONUS digital-asset platform, the xBank partnership, and the forthcoming USDV stablecoin—represents the next generation of fintech: regulated, inclusive, and regionally scalable.
Conclusion
Southeast Asia is not merely following global digital-asset trends—it is defining them. Vietnam’s legalization of crypto, the Philippines’ remittance-driven ecosystem, Indonesia’s regulatory overhaul, and Thailand’s structured innovation all point to the same destination: a regulated, inclusive digital-finance future.
VMNT and ONUS are building that future today. By aligning compliance with accessibility, and by linking U.S. financial infrastructure to Southeast Asia’s high-growth markets, they stand to become key enablers of the region’s digital-asset transformation. In short, Southeast Asia isn’t waiting for the future of finance—it’s building it.
Disclaimer
This article may contain forward-looking statements, which are subject to risks and uncertainties. Actual results may differ materially, and Vemanti Group, Inc. (“Vemanti”) undertakes no obligation to update such statements except as required by law. The content is provided for informational purposes only and does not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell any security, product, or service. Descriptions of products, services, or features are general in nature, may be restricted or unavailable in certain jurisdictions, and are subject to change without notice. Data, statistics, and third-party information are provided “as is,” may contain errors or inaccuracies, and should not be relied upon without independent verification. The Company disclaims any liability for reliance on this content. All trademarks and brands are the property of their respective owners.
