Key Highlights
- a16z crypto opens its first Asia office in South Korea’s capital to strengthen regional presence.
- SungMo Park, ex-Monad Foundation APAC head, appointed to lead Asia strategy.
- The firm says focus is on partnerships, distribution, and growing crypto communities in Korea, Singapore, and Japan.
a16z crypto, the crypto-focused investment arm of Andreessen Horowitz, is expanding into Asia with the opening of a new office in Seoul, South Korea. The move marks the firm’s first physical presence in the region and comes at a time when several Asian markets are seeing rising participation in digital assets and on-chain development.
Alongside the announcement, the company confirmed that SungMo Park, formerly the Head of Asia-Pacific (APAC) at the Monad Foundation, will lead its operations across the continent.
Seoul chosen amid strong local crypto activity
In its announcement, a16z crypto said South Korea is the second-largest crypto market in the world, citing both the scale of trading activity and the level of retail participation.
According to the firm, South Korea’s on-chain community remains one of the most active globally, helped by platforms such as Upbit, which consistently records significant trading volumes.
a16z also pointed out that close to a third of adults in South Korea own cryptocurrency, a level of participation that is far higher compared to most markets.
The choice to base its Asia operations in South Korea’s capital signals a move toward placing staff in the middle of the region’s actual building activity, where new blockchain projects, tools, and infrastructure are being developed rather than only traded or regulated.
While Hong Kong and Singapore have been the traditional financial centers in the region, South Korea has developed a reputation as a strong base for crypto developers, product-focused start-ups, and active user communities.
Growing interest across Asia
a16z crypto also pointed to broader activity across Asia, mentioning the high rate of crypto ownership in Singapore and the rising on-chain engagement in Japan. Alongside Korea, these countries are becoming places where more users and developers are getting involved with crypto and trying out new on-chain projects.
The Seoul office will work with teams across these countries, supporting early-stage projects and established companies seeking a foothold in the region.
Sungmo Park to lead regional strategy
SungMo Park will oversee the new office and guide the firm’s work with founders and enterprises. His previous experience, apart from leading APAC efforts at the Monad Foundation, includes serving at Polygon Labs, where he was involved in ecosystem development across East Asia, Greater China, Southeast Asia, and India.
Park also took to X to share the update, saying, “APAC is already shaping the future of web3, and I believe its impact will only grow from here. Through the network, experience, and relationships I’ve built over the years in this industry, I’ll help a16z crypto’s founders access not just a new market, but the regional context and knowledge they need to scale (and vice versa).”
a16z crypto said Park will focus on developing partnerships, expanding distribution channels, and supporting local community growth.
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