On January 21, 2025, the Blockchain complex in Hanoi was officially launched at Hoa Lac High-Tech Park, marking a significant step forward in Vietnam’s strategy to develop the digital technology and blockchain industry. This project is expected to play a key role in driving innovation, enhancing competitiveness, and elevating Vietnam’s position in the global digital transformation ecosystem.
Introduction to the Blockchain complex in Hanoi
The Blockchain Complex project in Hanoi, located at Hoa Lac High-Tech Park, is not just a technology complex, but also a vital move in Vietnam’s strategy to develop blockchain technology and its digital economy. Spanning 1.7 hectares, the project is designed to establish an internationally recognized research and development (R&D) center in the field of blockchain and digital technology.
Hoa Lac, with its strategic location near Hanoi’s center and key industrial zones, is an ideal place for this project. In addition to government support, Hoa Lac High-Tech Park offers modern infrastructure and strong potential for future growth. Blockchain technology companies, especially startups and large enterprises, will have the opportunity to access a dynamic development environment, supported by research, testing of new technologies, and the deployment of advanced blockchain solutions.
This project will serve as a hub for experts, researchers, and both domestic and international blockchain technology companies, creating a powerful ecosystem for blockchain development in Vietnam. The goal is to support not only startups but also assist larger enterprises in deploying and developing blockchain applications, laying the foundation for the sustainable growth of the blockchain industry in Vietnam and the region.
Investment commitment and significance to Vietnam’s digital economy
A standout feature of the Blockchain complex in Hanoi is the massive investment commitment from SSI Digital Ventures and other strategic partners. The total investment in the project amounts to USD 500 million, with USD 200 million committed by SSI Digital Ventures, one of the leading fund management companies in Vietnam. This represents an unprecedented investment in Vietnam’s blockchain industry, reflecting the deep interest investors have in the potential of blockchain technology for the future.
SSI Digital Ventures, alongside SSI Asset Management (SSIAM), not only provides critical funding for startups but also expands opportunities for collaboration between local and international companies. This investment will be used to build modern infrastructure, promote R&D, and create programs to support the sustainable development of blockchain technology businesses.
This project also aligns with the Vietnamese government’s strategy to build a digital economy and develop the high-tech industry. Vietnam is increasingly focusing on applying technology across various economic sectors, including finance, manufacturing, and public services. Blockchain technology, with its ability to ensure transparency, security, and cost-efficiency, could become an essential part of financial systems, data management, and technology platforms in Vietnam.
The Blockchain complex in Hanoi will play a crucial role in enhancing Vietnam’s international competitiveness, attracting more investors, creating job opportunities for thousands of people, and promoting the development of the digital economy as a whole.
Strategic partners and influence
Strategic partners are pivotal in ensuring the success of the Blockchain complex in Hanoi. These partners not only provide financial resources but also bring advanced technological solutions and management expertise to ensure the sustainable development of the project.
Top names in the blockchain industry such as SBI Digital Markets, Tether and KuCoin have joined the project. SBI Digital Markets, with its extensive experience supporting blockchain companies and providing digital financial services, will help advance the project with cutting-edge financial solutions and connections to international markets. Tether, one of the largest stablecoin providers globally, will bring deep insights into blockchain financial technologies, helping companies in the project apply advanced financial solutions to their platforms.
KuCoin, a leading global cryptocurrency exchange, will help connect the project with international blockchain networks, offering opportunities for trading and robust development for blockchain technology businesses in Vietnam. This collaboration will not only broaden the project’s influence but also create international cooperation opportunities, contributing to bringing Vietnam’s blockchain technology to the global stage.
These strategic partners will not only offer financial support but will also play a critical role in enhancing the reputation and influence of the Blockchain complex in Hanoi, helping position Vietnam as a global blockchain hub in the future.
Building a strong Blockchain and digital technology ecosystem
One of the key objectives of the Blockchain complex in Hanoi is to build a strong blockchain and digital technology ecosystem in Vietnam. This project is not only a place for developing new technologies but also a testing ground for blockchain applications in real-world environments. Technology companies will have the opportunity to test their solutions in an open and transparent ecosystem, allowing them to improve and enhance product quality.
With support from international partners and significant investment commitments, this complex will provide comprehensive support services for blockchain technology businesses, including workspace, research labs, financial and legal services. This will create an ideal environment for blockchain startups to experiment with innovative solutions while providing an open space for both domestic and international companies to collaborate and grow.
Additionally, the project will establish a “sandbox” for blockchain technology—an experimental space for companies to test new business models, develop technology applications, and interact with existing blockchain systems. Developing a technology sandbox will encourage innovation and provide valuable real-world lessons for blockchain technology businesses in the future.
Blockchain market outlook in Vietnam
Vietnam’s blockchain market is experiencing rapid growth and is expected to reach nearly USD 2.5 billion by 2026, according to Markets and Markets’ report. This presents a significant opportunity for blockchain and digital technology companies in Vietnam. This growth is driven not only by domestic demand but also by international investors’ interest in the developing blockchain market in Vietnam.
The Blockchain complex in Hanoi will contribute to this growth by providing a platform for local companies to thrive, engage with international partners, and help Vietnamese businesses participate in global blockchain projects. This increase will enhance Vietnam’s regional and global influence while driving the development of the domestic digital economy.
The Blockchain complex in Hanoi, located at Hoa Lac High-Tech Park, is not just an important step in Vietnam’s blockchain technology development strategy but also an opportunity for the country to rise as a blockchain technology hub in Southeast Asia. With strong support from international partners and substantial investment commitments, this project promises to deliver significant benefits to technology businesses in Vietnam and promote the digital economy in the future.
The establishment of the Blockchain complex in Hanoi also reflects the Vietnamese government’s strategy for developing the digital economy, creating new opportunities for sustainable development for blockchain and digital technology businesses.
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