a16z crypto, the crypto-focused investment arm of Andreessen Horowitz, has officially entered the Asian market with the opening of their first regional office in Seoul, South Korea.
The Silicon Valley-based investment fund has appointed Sungmo Park as Head of APAC go-to-market to lead operations in Seoul. Park brings a wealth of regional experience from his previous roles at Monad Foundation and Polygon Labs.
Asia is becoming a global crypto powerhouse
Chief Operating Officer Anthony Albanese announced this news. The choice to be physically present in Asia shows that this region is becoming increasingly important for global crypto adoption. A report from Chainalysis shows that Asia-Pacific accounted for $2.36 trillion in on-chain value in the 12 months leading up to June 2025. This is an increase of 69% compared to $1.4 trillion the year before.
South Korea is now the second-largest crypto market in the world, with nearly one in three adults owning digital assets – a percentage that is even higher than stock ownership. In Japan, on-chain activity has increased by 120% in 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 Singapore invest in digital assets.
India ranks first in the Chainalysis Global Crypto Adoption Index, thanks to rapid technology adoption via mobile phones and limited access to traditional banks. Notably, 11 of the top 20 countries in the Chainalysis Global Crypto Adoption Index are in Asia.
The opening in Seoul follows similar steps by major investment and crypto companies expanding their presence in Asia. The competition for deals, talent, and growth is intensifying as the region's influence increases. Especially gaming and social blockchain apps are very popular in Asia's mobile culture, providing interesting opportunities for a16z's portfolio companies.
The office in Seoul will support a16z’s portfolio companies in their entry into the Asian market. The office will also establish strategic partnerships in the region. The team aims to build strong communities across Asia. Park will work directly with founders to strengthen market connections and accelerate crypto adoption in the region.
“This is just the beginning,” said Albanese. “In the coming years, we want to further expand our presence in Asia, add new opportunities to support our crypto companies on the ground, and find more ways to increase our geographic footprint.”
From Naver to a16z: Park's journey through Web3
Park, born in 1993, began his career at Nomura in 2016. He then worked at IGA Works, ST Unitas, and Naver as a product manager. In 2021, he entered the Web3 sector and co-founded OnePlanet, a Polygon-based NFT marketplace supported by Animoca Brands and Hashed. In 2022, he joined Polygon Labs, where he rose to Korea Business Lead and later to APAC Head of Business Development. At Monad Foundation, he was APAC Lead. There, he helped build a Layer 1 blockchain that can handle 10,000 transactions per second.