Cryptocurrencies have assisted many people in overcoming economic problems in their own nations; they have also emerged as a crucial figure in the global economy. As a result, an increasing number of businesses are aiming to encourage their use as a strategy to increase regional and local markets.
On March 21, digital asset platform AEX announced the creation of a “green fund” to support the Vietnam crypto ecosystem. An initial $100 million investment will be made in the venture.
AEX intends to assist in the development of DeFi, GameFi, and NFT initiatives in Vietnam. To carry out this effort, the corporation will invest in both the country’s upstream and downstream industries. As a result, any Vietnam-based company is eligible to apply for access to the $100 million fund.
According to the company’s news release, projects that participate in the fund will receive significant financial support, access to a database of over tens of millions of people, and extensive financial management support to help them.
As a reward for their achievement, high-quality DeFi initiatives that match AXE’s standards will be eligible for instant “liquidity” bonuses. Furthermore, they will stimulate the development and creation of new high-quality initiatives through events and competitions hosted throughout the country this year.
With over one million registered members, AEX aspires to be more than just a crypto asset marketplace, but also a world-class crypto bank.
According to the company’s market research, the demand for blockchain businesses in Vietnam has surged by 140 percent over the last few years, luring many investors and consumers to the realm of cryptocurrencies.
According to a poll performed last year in 27 different countries, Vietnam had the highest crypto adoption rate, with more than 40% of respondents purchasing cryptocurrency.
Furthermore, according to the report, Vietnam ranks fifth in the world in terms of the number of people seeking to purchase NFT. This demonstrates that the country’s interest in anything crypto-related is significant enough to warrant inclusion.
So, even if Vietnam maintains a love-hate relationship with cryptocurrencies and blockchain technologies in the same way that its neighbouring country, China, cryptocurrencies are here to stay, and the sooner they are regulated, the sooner they will be able to take advantage of them, as many experts point out.