About Decentralized Finance sector in Asia
The Decentralized Finance sector in Asia comprises 3.09K companies, including 1.35K funded companies having collectively raised $8.26B in venture capital money and private equity. Out of these, 184 are Series A+ funded, and 5 have achieved unicorn status.
Decentralized Finance sector in Asia has seen 37 acquisitions and 4 IPOs.
This sector includes decentralized Finance is a financial system that operates without financial intermediaries using Blockchain technology.
Includes companies that are providing blockchain infrastructure for Defi applications, Wallets, Stable Coins, and Decentralized Finance Applications. Companies that are providing industry-agnostic blockchain infrastructure and centralized blockchain-based applications are excluded.
Top Decentralized Finance Companies in Asia
There are 3,090 Decentralized Finance startups in Asia which include Polygon, Animoca Brands, Terra, The Sandbox, ZenGo. Out of these, 1,353 startups are funded, with 184 having secured Series A+ funding, and 5 achieving unicorn status.
Over the past 10 years, an average of 286 new companies have been launched annually. Notably, several of these startups have been founded by alumni of National University of Singapore (NUS), Stanford University and Tel Aviv University.
Here is the list of top Decentralized Finance startups in Asia
1. Polygon
Developer of scalable blockchain interoperability protocols. It offers a suite of solutions, including cross-chain protocols and zero-knowledge (ZK) rollups, designed to enhance the scalability and security of blockchain networks. These protocols enable seamless asset transfer and interaction across different blockchains, improving the overall user experience. The company also provides developer tools and resources to support the creation of decentralized applications (dApps) on its platform. It fosters a vibrant developer community and offers grant programs to encourage innovation within the ecosystem.
Key facts about Polygon
- Founded Year: 2017
- Location: George Town (Cayman Islands)
- Stage: Series D
- Total Funding till date: $451M
- Investors: Peak XV Partners, Coinbase and 62 Others
- Latest Funding Round: Series D, Feb 02, 2022, $*****
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 1 of 40 Competitors
Developer of blockchain-based PC and mobile games. It develops and publishes blockchain games, traditional games, and other products. The company focuses on the development of racing and strategy-based NFT games which includes the sandbox, crazy kings, and crazy defense heroes. It also provides cloud authentication services and collaborate with formula one to develop blockchain games.
Key facts about Animoca Brands
- Founded Year: 2006
- Location: Kowloon (China)
- Stage: Series C
- Total Funding till date: $880M
- Investors: Liberty City Ventures, Temasek and 119 Others
- Latest Funding Round: Series C, Nov 11, 2024, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 3 of 1,347 Competitors
3. Terra
Blockchain network for payments. It is an open-source blockchain payment platform for an algorithmic stablecoin, which are cryptocurrencies that automatically track the price of currencies or other assets. The platform enables users to spend, save, trade, or exchange Terra stablecoins.
Key facts about Terra
- Founded Year: 2018
- Location: Singapore (Singapore)
- Stage: Series B
- Total Funding till date: $125M
- Investors: Huobi, Binance Labs and 42 Others
- Latest Funding Round: Series B, Jan 26, 2021, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 2 of 896 Competitors
4. The Sandbox
Online platform offering a user-generated metaverse with blockchain games for creative and immersive gaming experiences. It allows users to create and monetize their NFTs in a blockchain-based environment. The Sandbox platform combines elements of creativity, exploration, and gameplay in a sandbox setting, providing users with a degree of freedom to interact creatively and build their own virtual worlds.
Key facts about The Sandbox
- Founded Year: 2018
- Location: Hong Kong (China)
- Stage: Series B
- Total Funding till date: $115M
- Investors: SQUARE ENIX, SoftBank Vision Fund and 46 Others
- Latest Funding Round: Series B, Jun 06, 2024, $*****
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 3 of 586 Competitors
5. ZenGo
Keyless cryptocurrency mobile wallet. It replaces private wallet keys with open-source threshold cryptography and its distributed servers. The application is available on the Android and iOS platforms.
Key facts about ZenGo
- Founded Year: 2017
- Location: Tel Aviv (Israel)
- Stage: Series A
- Total Funding till date: $52M
- Investors: Insight Partners, Elron Ventures and 15 Others
- Latest Funding Round: Series A, May 02, 2022, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 1 of 302 Competitors
Companies founded year-on-year in the Decentralized Finance sector in Asia
1,012 Decentralized Finance startups in Asia were founded in 2021 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 10 |
2024 | 57 |
2023 | 234 |
2022 | 691 |
2021 | 1,012 |
2020 | 212 |
2019 | 167 |
2018 | 286 |
2017 | 152 |
2016 | 42 |
Stage-wise distribution of Decentralized Finance sector companies in Asia
Out of the total 3,090 Decentralized Finance companies in Asia, 1,353 have secured funding. Among them, 184 have reached Series A or higher, and 75 to Series B or beyond.
Founded - 3,090
Funded - 1,353
Series A+ - 184
Series B+ - 75
Series C+ - 46
Company Stage | No. of companies |
|---|---|
Founded | 3,090 |
Funded | 1,353 |
Series A+ | 184 |
Series B+ | 75 |
Series C+ | 46 |
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Funding Trends in the Decentralized Finance sector in Asia
Total funding year-on-year in the Decentralized Finance sector in Asia
The Decentralized Finance sector in Asia saw a total funding of more than $8.21B in the last 10 years. The most amount of funding was in 2022 at more than $2.99B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $227M |
2024 | $529M |
2023 | $634M |
2022 | $2.99B |
2021 | $1.75B |
2020 | $134M |
2019 | $1.35B |
2018 | $173M |
2017 | $300M |
Recent Funding Rounds in Decentralized Finance in Asia
In the year 2025, till December 2025, Decentralized Finance companies in Asia have raised $190M in equity funding across 33 rounds.
In the same period last year (i.e. till December 2024), Decentralized Finance companies in Asia had raised $426M across 120 rounds.
So, 2025 has seen a 55.32% drop in funding in Decentralized Finance companies in Asia as compared to 2024.
Here are some recent, important funding rounds in Decentralized Finance companies in Asia:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 3255 | Dec 09, 2025 | ||
Series A | 4027 | Nov 27, 2025 | ||
Seed | 4537 | Nov 20, 2025 | ||
Series B | 1150 | Oct 17, 2025 | ||
Seed | 3688 | Oct 01, 2025 |
Top Investors in Decentralized Finance in Asia
Animoca Brands is the top investor in Decentralized Finance companies in Asia based on number of companies invested.
Here are some top investors in Decentralized Finance companies in Asia:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Kowloon (China) | ||
Taipei (Taiwan) | ||
Shanghai (China) | ||
Singapore (Singapore) | ||
Shanghai (China) |
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M&A activity in Decentralized Finance sector in Asia
In the year 2025, till July 2025, 7 acquisitions happened in Decentralized Finance sector in Asia. Last year, in 2024, a total of 3 acquisitions happened in Decentralized Finance sector in Asia.
Here are some recent, important acquisitions in Decentralized Finance sector in Asia:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 12, 2025 | ||
Business Acquisition | Jul 10, 2025 | ||
Business Acquisition | Jun 10, 2025 | ||
Business Acquisition | Apr 21, 2025 | ||
Business Acquisition | Mar 25, 2025 |
Acquisition trends in Decentralized Finance sector in Asia
Here are the acquisition trends in Decentralized Finance sector in Asia:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 7 |
2024 | 3 |
2023 | 6 |
2022 | 9 |
2021 | 4 |
2020 | 2 |
2019 | 3 |
2018 | 1 |
2017 | - |
IPOs in Decentralized Finance in Asia
In the year 2022, till April 2022, 1 IPO happened in Decentralized Finance sector in Asia.
Here are some recent, important IPOs in Decentralized Finance sector in Asia:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Apr 29, 2022 | Shenzhen Stock Exchange (SZSE) |
Colleges which produce the most Decentralized Finance companies in Asia
Companies founded by alumni from top colleges in the Decentralized Finance in Asia
Most number of Decentralized Finance startups in Asia have been founded by alumni from National University of Singapore (NUS), Stanford University and Tel Aviv University.
College | No. of companies |
|---|---|
National University of Singapore (NUS) | 28 |
Stanford University | 18 |
Tel Aviv University | 16 |
Columbia University | 13 |
Harvard University | 11 |
IIT Bombay | 11 |
Imperial College London | 11 |
London School of Economics and Political Science | 11 |
Singapore Management University (SMU) | 11 |
BITS Pilani | 9 |
Total funding in Decentralized Finance companies founded by alumni from top colleges in Asia
In the last 10 years, IESE Business School graduates' Decentralized Finance companies in Asia have raised the most funding among top colleges. Wharton School alumni are second, and Yale University alumni are third.
College | Total Funding |
|---|---|
IESE Business School | $451M |
Wharton School | $335M |
Yale University | $321M |
Stanford University | $236M |
University of Pennsylvania | $202M |
Tsinghua University | $156M |
IIT Delhi | $130M |
Columbia University | $95.7M |
Cornell University | $93.4M |
University of California (Berkeley) | $71.9M |
Top News in Decentralized Finance in Asia
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Tether and Kraneshares Forge Alliance to Drive Global Tokenization EffortsBitcoin•Nov 07, 2025•KraneShares, Tether, Bitfinex
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Chainlink's LINK Gains on DigiFT, UBS Fund Tokenization Pilot in Hong KongCoinDesk•Sep 11, 2025•Chainlink, UBS, Digift
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VivoPower, Doppler Finance Invest $30M in XRP Amid XRPL Activity Surgebitcoinethereumnews.com•Sep 03, 2025•VivoPower, Doppler
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XRP Takes Center Stage in Vivopower Treasury Strategy With Doppler FinanceBitcoin•Sep 03, 2025•VivoPower, Doppler
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Standard Chartered forms joint venture to issue stablecoins in Hong KongThe Business Times•Aug 08, 2025•Standard Chartered, Animoca Brands, Anchor Point Financial, HKT
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DigitalX Secures $13M+ From Animoca, UTXO to Expand BTC Holdingsbitcoinethereumnews.com•Jul 08, 2025•DigitalX, Animoca Brands, Utxo Management, ParaFi and 1 other
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Fellaz Appoints Justin Baird as CTO to Lead Decentralized Entertainment StackNewswire•Jun 30, 2025•Fellaz
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Polygon's Sandeep Nailwal discusses rebuilding Polygon after dismantling the boardMoneycontrol•Jun 16, 2025•Polygon
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Sandeep Nailwal Appointed CEO of Polygon Foundation, Plans for AggLayer and Polygon PoSFintech Finance•Jun 13, 2025•Polygon
