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Southeast Asia blockchain funding remains below its 2022 peak. Annual investment dropped from $2.2 billion in 2022 to $386 million in 2023, according to Tracxn. Funding recovered to $804 million in 2024 before declining to $319 million in 2025. Although the $680 million raised this year has already passed the 2025 total, it remains about 69% below the 2022 record. The number of rounds has also continued to fall, leaving the industry with more capital than last year but fewer companies receiving it. Crypto financial services have collected most of the available money. Companies in the segment raised $498 million through 19 rounds, with funding up 48.4% from the corresponding period last year, the report said. Tokenization platforms ranked second with $114 million, while platforms used to develop decentralized applications received $77 million. Tracxn's sector classifications indicate that investors have favored exchanges, payments companies, and other financial infrastructure providers over less established blockchain projects. Institutional activity outside Southeast Asia offers additional context for the interest in financial and tokenization companies. As crypto.news reported in August, the Depository Trust and Clearing Corporation has been developing a tokenization service with more than 50 financial firms in the United States, while JPMorgan, Citigroup, Bank of America, and Wells Fargo have been working on tokenized deposit infrastructure. The U.S. developments do not form part of Tracxn's Southeast Asian funding total. However, they show how established financial companies are putting capital and technical resources into many of the same business areas receiving investment in the region, including settlement, tokenized assets, and blockchain-based payments. Most blockchain companies remain below Series A. Funding becomes much harder to secure after the earliest stages of company development, Tracxn's figures show. Among 3,957 blockchain companies tracked across Southeast Asia, 1,323 have received some form of equity investment, but only 167 have reached Series A or a later stage. Just 50 companies have advanced to Series B, while 14 have completed a Series C round. Four companies have reached Series D or moved beyond it, including Crypto.com following its $400 million financing. The figures leave about 87% of equity-funded companies below Series A. Even among businesses that have attracted investors, only around 13% have progressed to a stage where larger institutional rounds usually become available. Later-stage concentration also appears in the size of the year's leading transaction. Crypto.com's round was larger than the combined $280 million raised through every other reported deal in 2026, giving one mature exchange more funding than the rest of the market combined. Southeast Asia has still produced six blockchain unicorns, according to Tracxn. The group includes digital asset bank Sygnum, Thai exchange Bitkub, blockchain gaming company Sky Mavis, and crypto financial services firm Amber Group. Sygnum reached a valuation above $1 billion after raising $58 million in early 2025. The company operates from Switzerland and Singapore and provides regulated digital asset services to institutional clients, including custody, trading, and tokenization products. Singapore controls most regional blockchain investment. Singapore accounts for 82.5% of Southeast Asia's cumulative $6.2 billion in blockchain funding, equal to approximately $5.1 billion, according to the report. The city-state is also home to 2,285 of the companies tracked by Tracxn, or nearly 58% of the regional total. Jakarta ranks as the next-largest funding center but accounts for only 3% of cumulative investment. Its share is roughly $186 million, leaving a substantial difference between Singapore and every other city in the region. Recent company activity has reinforced Singapore's position. Coinbase announced in July that it plans to expand its Singapore workforce from about 150 employees to approximately 200 by the end of 2026, citing institutional demand and tokenization among its areas of focus. Singapore's regulatory structure has also supported the development of licensed digital asset businesses. The Monetary Authority of Singapore introduced frameworks for tokenized fixed-income products and investment funds in November 2024 under Project Guardian, an initiative involving more than 40 financial institutions, industry groups and policymakers across seven jurisdictions. By the time the frameworks were announced, Project Guardian had completed more than 15 trials involving six currencies and several financial products. MAS also formed the Guardian Wholesale Network with Citi, HSBC, Standard Chartered, Schroders and UOB to support commercial uses of tokenized assets. Acquisitions outnumber blockchain IPOs. Exit activity has leaned heavily toward acquisitions rather than public listings. Tracxn counted 43 acquisitions across Southeast Asia's blockchain industry but only four initial public offerings. Among the 2026 transactions, Japan's SBI Holdings completed its acquisition of Coinhako after receiving approval from MAS in July. The deal included a capital injection and purchases of shares from existing investors, although SBI did not disclose the stake size, investment amount, or valuation. Coinhako, founded in 2014, operates under a Major Payment Institution licence from MAS. SBI said the exchange would provide a regulated base for digital asset services involving stablecoins, tokenized products, cross-border trading and on-chain finance between Japan and Southeast Asia. Tracxn also listed Bybit's purchase of Indonesian crypto platform NOBI among the sector's acquisitions this year. The two transactions added to the region's 43 recorded takeovers, compared with four blockchain companies that have completed IPOs.

The Depository Trust & Clearing Corporation's tokenization service is set to launch commercially in October 2026, following production trades in July that tested collateral pledge, securities lending, and treasury workflows across over 30 firms. The service received SEC authorization in December 2025 via a three-year no-action letter. It runs on the ComposerX platform, using LFDT's Besu and the Canton Network for multi-chain operations. More than 50 firms now participate in the Industry Working Group, including BlackRock, JPMorgan, Goldman Sachs, and Circle. The focus has shifted from adoption to standardization. DTCC data shows $300 trillion in global high-quality liquid assets, with only 10-11% used as collateral. Digital Asset estimates the tokenized workflows could boost balance sheet efficiency by 30-50% through real-time collateral mobility.

DTCC partners with BitGo to launch digital asset infrastructure for tokenized US Treasuries and equities. The financial world's central plumbing system just went onchain, with BitGo providing wallet infrastructure for settlement of tokenized securities 2 hours ago Sponsored: CryptoSlots - Cryptoslots Play now! The Depository Trust & Clearing Corporation, the entity that quietly processes virtually every stock and bond trade in America, has taken its most consequential step into blockchain-based infrastructure. On July 15, DTCC's subsidiary The Depository Trust Company successfully converted eligible US Treasuries and equities into tokenized digital twins, with BitGo Bank & Trust serving as the custodian handling settlement and movement of those assets onchain. What actually happened on July 15. The milestone was part of DTCC's broader Tokenization Service, which converts traditional financial instruments into blockchain-native representations while maintaining their legal and economic properties. The July trades focused on repo and reverse repo workflows, the short-term lending markets where institutions borrow against Treasuries as collateral. Over 30 firms participated in the pilot, and the roster reads like a who's who of global finance. BlackRock, Goldman Sachs, and J.P. Morgan were among the institutions testing the interoperability and operational capabilities of the new system. BitGo holds a distinctive role in the arrangement. The company is the only OCC-regulated full-service qualified custodian integrated with the DTCC Tokenization Service. In practical terms, that means BitGo is the entity responsible for holding and moving the tokenized assets when trades settle, a function that requires both the technical capability to manage onchain wallets and the regulatory standing to custody institutional-grade securities. The official, full-scale launch of the DTC Tokenization Service is planned for October 2026. The path to this moment. This partnership didn't materialize overnight. In December 2025, the organization partnered with Digital Asset for tokenization on the Canton Network, laying groundwork for interoperable digital asset infrastructure across multiple blockchain environments. By May 2026, DTCC confirmed BitGo's involvement alongside more than 50 industry participants in the broader tokenization initiative. The July pilot narrowed the focus to live trades with real assets, proving the system works under actual market conditions rather than in sandboxed test environments. What this means for markets. The October launch will be a defining moment for institutional adoption of tokenized assets. When the entity that clears nearly all US securities transactions officially supports tokenized versions of those same instruments, it removes one of the biggest objections institutional players have had: counterparty and infrastructure risk. The risk to watch is execution. Moving from a 30-firm pilot to full production across the entire DTC ecosystem is a massive scaling challenge. Settlement failures in repo markets don't just cause inconvenience; they can trigger cascading liquidity problems. Disclosure: This article was edited by Editorial Team. For more information on how Crypto Briefing create and review content, see its Editorial Policy.