As promised in our recent announcement regarding our investment in leading local self-storage provider, MyStorage, we are now following up with the disclosure of several additional strategic investments the team at BitcoinVN has undertaken over the past few months.
As the uncertain regulatory outlook in Vietnam around the incoming changes set for 2026 onward forces local Vietnamese companies to re-evaluate their commitment to the domestic market and reallocate resources and capital in preparation for a scenario where the enacted regulatory drafts may have severely adverse impacts on local startups and SMEs in the sector, the team behind Vietnam’s premier Bitcoin instant exchange platform, BitcoinVN, has taken the strategic step to participate in the late 2024 funding round of Blink Wallet – aiming to diversify its exposure and strengthen its relationships and connectivity within the global Bitcoin ecosystem.
How Blink was validated?
Blink (formerly Bitcoin Beach Wallet) has been a pioneer in Lightning adoption since the early days of Bitcoin in El Salvador – and continues to serve as the go-to wallet for grassroots circular economies across Latin America.
When our treasured friend – a respected peer and confidant and valued voice in our circle – Lukas Duczko announced his plans to take an active role in guiding Blink Wallet into its next chapter as a prime tool for bottom-up Bitcoin adoption in communities across the Global South, we were immediately taken in.
Lukas’ track record as a seasoned entrepreneur – building, rescuing, and scaling companies – paired with his deep ties across the Bitcoin ecosystem (from investors to advisors), made for a compelling match with the Blink story.
Blink played a foundational role in the initial rise of Bitcoin in El Salvador and has since stood as a working blueprint for circular Bitcoin economies. That track record made it a project we saw real value in – and one we are eager to support and actively engage with.
Bitcoin in El Salvador
El Salvador made global headlines in September 2021 when it became the first country to adopt Bitcoin as legal tender. The initiative, spearheaded by President Nayib Bukele, aimed to promote financial inclusion, reduce remittance costs, and attract innovation and investment.While the rollout of the government-initiated Chivo Wallet faced infrastructure and usability challenges, it marked a historic moment in Bitcoin’s evolution from a store of value to a functional currency on a national scale.
On the ground, it was community-driven efforts like Bitcoin Beach in El Zonte that laid the groundwork long before the legal tender law was passed. These early experiments in circular Bitcoin economies proved that peer-to-peer Bitcoin use could thrive in underserved regions.
Despite ongoing debate about adoption levels and economic impact, the country remains a global testing ground for how Bitcoin can be integrated into everyday life. While not all Bitcoiners saw their hopes fully realized, others continue to back – and invest in – the vision. El Salvador, now renowned as the world’s first “Bitcoin country,” offers both inspiration and practical lessons for communities far beyond its borders.
Among others, the world’s leading stablecoin issuer Tether has steadily deepened its presence in El Salvador. Under Paolo Ardoino’s leadership, the company has shifted parts of its operations to the country and is backing several high-profile initiatives – including the proposed Tether Tower in San Salvador, along with investments in energy infrastructure and Bitcoin mining.
El Salvador’s commitment to Bitcoin and financial innovation is beginning to bear fruit, advancing President Bukele’s vision of transforming what was once seen as a crime-ridden “lost cause” into a rising hub that attracts talent and capital from across the Western Hemisphere.
The BitcoinVN strategy
BitcoinVN, as the pioneering Bitcoin Exchange Service Provider in Vietnam, will aim to continue to uphold our track record of moving early on matters we believe in and consider viable.
We began building our business in Vietnam in the early 2010s, at a time when interest in Vietnamese-born high-tech startups was still scant.
Our name – BitcoinVN – speaks for itself:
We launched the first Bitcoin Exchange in Vietnam when most of the world had yet to hear the word “Bitcoin.” Altcoins, as an industry, did not exist.
We installed Vietnam’s first Bitcoin ATM in 2016 and became the first exchange in Asia to support the Lightning Network in 2021.
Our team has long supported Albert Buu and the team at Neutron, whose early meetup-driven vision evolved into the leading Lightning Service Provider in Southeast Asia – now expanding across North America and beyond.
At BitcoinVN, we’ve consistently backed entrepreneurs with real-world track records – people who not only sense where the world is heading but also move ahead of the curve while others are still dismissing the idea.
With our backing of Blink, we’re teaming up with our long-time friend Lukas to help bring his vision to life: turning Blink into a simple, hurdle-free gateway to Bitcoin – accessible to users from all walks of life, globally. It’s also an opportunity to work with a team that has deliberately chosen a bottom-up approach, focused on the Global South with a strong emphasis on Latin America and Africa.
While we remain hopeful that Vietnam will continue to allow space for its domestic companies – especially those with a proven track record of building early on emerging technologies – to operate and grow, we also recognize the need for strategic flexibility. If the regulatory landscape shifts in a direction that makes ongoing investment and presence more difficult for homegrown, bootstrapped firms like BitcoinVN, we will be prepared and shift our commitments and resources accordingly.
Our commitment to building and contributing to the ecosystem remains intact. With trusted partners across welcoming and forward-looking markets, we’re in a strong position to adapt and contribute where conditions are most conducive. No matter the geography, our mission remains the same: to back the people and projects moving Bitcoin forward.
Want to check out Blink?
Download Blink Wallet (Android)
Download Blink Wallet ( Apple Appstore )
Further reading:
Want even more Vietnam – El Salvador vibes? Check out the commemorative El Salvador Satscard at BitcoinVN Shop
