Crypto Hub in Vietnam Opened by Near Foundation and GFS Ventures

Near Foundation, a Swiss non-profit organization that oversees the development of the layer-one blockchain, Near Protocol, announced that it has opened a Web3 regional hub in Vietnam. Its partner in the project is GFS Ventures, a venture capital fund.

According to the Global Cryptocurrency Acceptance Index, Vietnam ranks fifth when it comes to the degree of crypto adoption propensity. In addition, with one in five Vietnamese people owning crypto, the county is one of the leading ones in terms of crypto ownership.

According to Near’s representative, Vietnam has the strongest growth potential in Southeast Asia. Similarly to Near’s hub in Kenya, the foundation is looking to assist local talent in Vietnam with the technological and commercial development of crypto.

GFS Ventures, a venture capital company dedicated to blockchain, DeFi, and NFTs, is in charge of the hub’s establishment. GFS is assisted by VBI, an institute specializing in blockchain research.