Opens Seoul Office as It Targets the World’s No.2 Crypto Market

Key Takeaways:

• a16z opens its first Asia office in Seoul to tap into South Korea’s massive crypto user base.
• Sungmo Park, a veteran of Monad Foundation and Polygon Labs, will lead regional growth and partnerships.
• Asia now accounts for a major share of global onchain activity, positioning the region as a critical expansion frontier.

a16z crypto is accelerating its global expansion strategy with a high-profile move into Asia. The company has officially opened the first regional office in Seoul which demonstrates the skyrocketing growth of the crypto adoption in the continent as well as South Korea being one of the most active markets of the digital asset in the world.

The announcement came through a post from Anthony Albanese, Chief Operating Officer of a16z, marking a major milestone for the venture giant as it ramps up support for founders, enterprises, and emerging Web3 ecosystems across Asia.

a16z Enters Asia Through Seoul – Home to the World’s Second-Largest Crypto Market

The crypto environment in South Korea has developed very quickly due to high mobile penetration rates, high culture of retail trading, and entrenched developer community. It is now estimated that close to every three out of every ten South Korean adults are crypto holders, more so than stock market investors.

The choice of a16z to base its presence in Asia in Seoul is consistent with several structural benefits:

• South Korea ranks as the world’s No.2 crypto market by penetration.
• The country hosts one of the most active onchain communities globally.
• Local exchanges like Upbit consistently lead global spot-trading volume.
• Developer activity remains strong, supported by a vibrant startup ecosystem and tech-savvy population.

The new office is to enhance regional connectivity, build strategic alliances as well as put a16z nearer to the founders of the next generation blockchain infrastructure in Asia. The relocation coincides with some of the most rapid onchain expansion in Asian markets. According to a16z’s latest State of Crypto report:

• Japan’s onchain activity surged 120% over the past year.
• Singapore maintains one of the highest crypto-ownership rates globally, especially among young users.
• India is ranked #1 globally in Chainalysis’ Crypto Adoption Index.
• Out of the world’s top 20 crypto-adopting nations, 11 are in Asia.

With this trend, a16z considers Asia as not only its growth region but also as a future hub of global crypto innovation.

Read More: Upbit Teases ‘Giwa’ Blockchain Launch as South Korea’s Largest Exchange Prepares New Chain

A Veteran Builder to Lead a16z’s APAC Go-to-Market Strategy

Sungmo Park Brings Deep Enterprise and Crypto-Native Expertise

a16z has hired Sungmo Park to head the Seoul office. He is an extremely experienced strategist with a rich background in corporate and crypto-native settings.

Park previously served as:

• APAC Lead at Monad Foundation, overseeing ecosystem development across East Asia, Greater China, Southeast Asia, and India.
• Head of APAC Business Development at Polygon Labs, driving enterprise integrations and partnerships with leading crypto projects.

The possibility of speaking multiple languages – Korean, Japanese, Chinese and English – makes Park the perfect gateway between local stakeholders, founders and international teams.

His mandate includes:

• Supporting portfolio companies with go-to-market execution
• Building high-value partnerships across Asia
• Strengthening distribution networks
• Helping founders expand community growth
• Accelerating crypto adoption at both enterprise and consumer levels

Due to the heterogeneity of Asian markets, the presence of a leader with extensive experience in the region is essential to make sure that the APAC strategy of a16z will scale adequately.

Read More: South Korea Warns Crypto ETF Exposure Too High, Singles Out Coinbase and MicroStrategy

Asia Becomes the Frontline for Global Crypto Expansion

When a16z announced it was going into Seoul, it was not a mere expansion move, but rather an acceptance that the next big wave of crypto is going to come out of there.

A number of factors support the rising Asian hegemony:

• Retail adoption: Cryptos are being adopted by younger Indians, Koreans, Vietnamese and Singaporeans at a higher pace as compared to the Western markets.
• Regulatory clarity: Japan and Singapore have developed one of the most transparent crypto regulations in the world.
• Developer ecosystems: East Asia continues to be a blockchain infrastructure, gaming, and zero-knowledge powerhouse.
• Enterprise appetite: Companies in both Korea and Japan are considering integrating blockchain, both loyalty and tokenized.

These forces provide portfolio companies of a16z a strong channel of scale, so Seoul is a natural hub of organization of regional growth.

a16z indicated that it is only the start. The company intends to expand its operations in Asia further over the next few years and add new features to serve founders in the region.