a16z crypto, the crypto-focused venture arm of Andreessen Horowitz, has officially entered the Asian market with the opening of its first regional office in Seoul, South Korea.
The Silicon Valley-based venture fund appointed Sungmo Park as Head of APAC go-to-market to lead the business in Seoul. Park brings extensive regional experience from previous roles at Monad Foundation and Polygon Labs.
Asia appears as a global crypto power
Chief Operating Officer Anthony Albanese announced the news. The decision to establish a physical presence in Asia reflects the region's increasing dominance in global crypto adoption. Chainalysis reports that Asia-Pacific accounted for $2.36 trillion in on-chain value over the 12 months leading up to June 2025. This figure represents a 69% increase from $1.4 trillion the previous year.
South Korea is the world's second-largest crypto market, with nearly one in three adults owning digital assets—a share that actually exceeds stock ownership. Japan has seen a 120% growth in on-chain activity over the past year. Singapore has one of the highest shares of crypto ownership in the world. Approximately 40% of Gen Z and Millennials in the country invest in digital assets.
India leads the Chainalysis Global Crypto Adoption Index, driven by mobile-first technology adoption and limited access to traditional banking services. It is worth noting that 11 of the top 20 countries in Chainalysis's Global Crypto Adoption Index are located in Asia.
The launch in Seoul follows other leading venture and crypto companies that are also strengthening their presence in Asia. The competition for deals, talent, and growth is intensifying in line with the region's increasing influence. Gaming and social blockchain apps are particularly popular in Asia's mobile-focused culture, presenting unique opportunities for a16z's portfolio companies.
The office in Seoul will support a16z's portfolio companies as they enter Asian markets. It will also establish strategic partnerships throughout the region. The team aims to build lasting communities across Asia. Park will work directly with entrepreneurs to strengthen market connections and accelerate crypto adoption in the region.
"This is just the beginning," stated Albanese. "In the coming years, we plan to strengthen our presence in Asia, add new capabilities to support our crypto companies there, and continually explore new ways to expand our geographic reach."
From Naver to a16z: Park's journey through Web3
Park, born in 1993, started his career at Nomura in 2016. From there, he moved to IGA Works, ST Unitas, and Naver, where he worked as a product manager. In 2021, he entered the Web3 industry and co-founded OnePlanet, a Polygon-based NFT marketplace backed by Animoca Brands and Hashed. He joined Polygon Labs in 2022 and rose to Korea Business Lead, then APAC Head of Business Development. At Monad Foundation, he was APAC Lead. He contributed to building a Layer 1 blockchain that can process 10,000 transactions per second.
