a16z crypto, the crypto-focused enterprise arm of Andreessen Horowitz, has formally entered the Asian market with the opening of its first regional workplace in Seoul, South Korea.
The Silicon Valley-based enterprise fund appointed Sungmo Park as Head of APAC go-to-market to guide the Seoul operations. Park brings intensive regional experience from his earlier roles at Monad Basis and Polygon Labs.
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Asia Emerges as World Crypto Powerhouse
Chief Working Officer Anthony Albanese made the announcement. The choice to ascertain a bodily presence in Asia displays the area’s rising dominance in world crypto adoption. Chainalysis studies that Asia-Pacific accounted for $2.36 trillion in on-chain worth over the 12 months to June 2025. This determine represents a 69% enhance from $1.4 trillion within the earlier 12 months.
South Korea stands because the world’s second-largest crypto market, with almost one in three adults holding digital belongings—a fee that surpasses inventory possession. Japan has seen on-chain exercise surge 120% over the previous 12 months. Singapore has one of many highest crypto possession charges on the planet. About 40% of Gen Z and Millennials within the nation spend money on digital belongings.
India leads the Chainalysis World Crypto Adoption Index, pushed by mobile-first expertise adoption and restricted entry to conventional banking. Notably, 11 of the highest 20 nations in Chainalysis’s World Crypto Adoption Index are positioned in Asia.
The Seoul launch follows different main enterprise and crypto corporations boosting their Asian presence. Competitors for offers, expertise, and development is intensifying because the area’s affect expands. Gaming and social blockchain apps are particularly widespread in Asia’s mobile-first tradition, presenting distinctive alternatives for a16z’s portfolio corporations.
The Seoul workplace will help a16z’s portfolio corporations as they enter Asian markets. It’ll additionally forge strategic partnerships throughout the area. The group goals to construct lasting communities all through Asia. Park will work immediately with founders to strengthen market connectivity and speed up crypto adoption all through the area.
“That is just the start,” Albanese acknowledged. “Over the approaching years, we plan to develop our presence in Asia, add new capabilities to help our crypto corporations working there, and preserve exploring new methods to develop our geographic footprint.”
From Naver to a16z: Park’s Journey By Web3
Park, born in 1993, started his profession at Nomura in 2016. From there, he moved to IGA Works, ST Unitas, and Naver, the place he labored as a product supervisor. In 2021, he entered the Web3 area and co-founded OnePlanet, a Polygon-based NFT market backed by Animoca Manufacturers and Hashed. He joined Polygon Labs in 2022 and rose to Korea Enterprise Lead, then APAC Head of Enterprise Growth. At Monad Basis, he served as APAC Lead. He helped construct a Layer 1 blockchain able to processing 10,000 transactions per second.