a16z crypto, the venture capital firm in crypto from Andreessen Horowitz, has now entered the Asian market by opening its first regional office in Seoul, South Korea.
The venture capital fund from Silicon Valley chose Sungmo Park as head of APAC go-to-market to lead the efforts in Seoul. Park has extensive experience in the field thanks to his previous roles at Monad Foundation and Polygon Labs.
Asia is becoming a global leader in crypto.
Chief Operating Officer Anthony Albanese announced the news. The decision to open an office in Asia shows that the region is becoming increasingly important for the global use of crypto. Chainalysis reports that Asia and the Pacific region accounted for $2.36 trillion in blockchain value in the twelve months leading up to June 2025. This is an increase of 69% from $1.4 trillion the year before.
South Korea is the world's second-largest crypto market, and nearly one in three adults owns digital assets. That figure is higher than stock ownership. Japan has seen blockchain activity increase by 120% over the past year. Singapore is among the countries with the highest percentage of crypto ownership in the world. About 40% of Gen Z and Millennials in the country invest in digital assets.
India tops the Chainalysis Global Crypto Adoption Index thanks to widespread use of mobile technology and difficult access to traditional banks. It is worth mentioning that 11 of the 20 top countries in the Chainalysis Global Crypto Adoption Index are in Asia.
The launch in Seoul comes after many other leading venture capital and crypto companies have increased their presence in Asia. The competition for business, talent, and growth is increasing as the region grows in significance. Gaming and social blockchain apps are particularly popular as Asia has a strong mobile focus, providing unique opportunities for a16z's portfolio companies.
The office in Seoul will help a16z's portfolio companies establish themselves in Asian markets. It will also create strategic partnerships across the region. The team wants to build long-lasting communities in Asia. Park will work directly with founders to strengthen market connections and accelerate the adoption of crypto here.
“This is just the beginning,” said Albanese. “In the coming years, we want to increase our presence in Asia, provide new opportunities to support our crypto companies there, and constantly look for new ways to grow geographically.”
From Naver to a16z: Park's journey through Web3
Park, born in 1993, started at Nomura in 2016. He then moved on to IGA Works, ST Unitas, and Naver, where he worked as a product manager. In 2021, he began working with Web3 and co-founded OnePlanet, an NFT marketplace on Polygon supported by Animoca Brands and Hashed. He joined Polygon Labs in 2022 and first became the Korea Business Lead and then the head of business development in APAC. At Monad Foundation, he was responsible for APAC. He helped build a Layer 1 blockchain capable of handling 10,000 transactions per second.
