A Saigon studio built the biggest blockchain game in the world, then lost $620 million to hackers as its token economy collapsed. What survived.
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Vietnam Telecom, Tech & Startups
Expert guides, analysis and tool comparisons on Vietnam Telecom, Tech & Startups from the kurums.com Startup desk — written for business decision-makers and updated as the market moves.
- 5 guides
- Updated Sep 13, 2026
Latest in Vietnam Telecom, Tech & Startups
MoMo: The E-Wallet War and the Cost of Winning It
MoMo spent $430 million winning Vietnam’s e-wallet war, then watched the banks give payments away for free. The pivot to lending is the real story.
VNG and Zalo: Vietnam’s First Unicorn and the App That Beat Facebook Messenger
A games publisher built the chat app that beat Messenger in Vietnam, then spent a decade and a fortune searching for a second business.
FPT: From Food Processing to a Billion-Dollar Software Exporter
FPT changed its core business three times. The software bet lost money for years, then Japan turned it into Vietnam’s first billion-dollar tech exporter.
Viettel: The Army-Owned Telecom That Went to Ten Countries
A cable-laying army unit became Vietnam’s largest telecom and a ten-country multinational. Here is how the model works and where it strains.
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