a16z crypto , Andreessen Horowitz 's crypto Venture Capital , has officially entered the Asian market with the opening of its first regional office in Seoul, South Korea.
This Silicon Valley Venture Capital has appointed Sungmo Park as Head of APAC Market Development to lead operations in Seoul. Park brings extensive regional experience from previous positions at Monad Foundation and Polygon Labs.
Asia is emerging as a global cryptocurrency hub.
Anthony Albanese, Chief Operating Officer (COO), announced this information. The opening of a physical office in Asia by a16z demonstrates the region's growing influence in global crypto adoption. According to Chainalysis, the Asia-Pacific region achieved a total on-chain value of $2.36 trillion in the 12 months ending June 2025 – a 69% increase from $1.4 trillion the previous year.
South Korea is currently the world's second-largest crypto market , with nearly one-third of adults owning digital assets – a rate even surpassing stock ownership. In Japan, on-chain trading volume has increased by 120% over the past year. Singapore is also among the countries with the highest crypto ownership rates, with around 40% of younger generations (Gen Z and Millennials) investing in digital assets.
India is leading the ranking of Chainalysis's Global Crypto Adoption Index, thanks to the popularity of mobile-first technology and limited access to traditional banking. Notably, 11 of the top 20 countries in this ranking are located in Asia.
The opening of a16z Seoul office comes as many leading Venture Capital and crypto startups are expanding their operations in Asia. Competition for deals, personnel, and development is increasingly fierce as the region's influence grows. Blockchain applications for gaming and social media are particularly prominent in Asia due to its mobile-first culture – a compelling opportunity for companies in a16z's portfolio.
The Seoul office will support a16z 's portfolio companies as they enter Asian markets, while building strategic relationships across the region. The a16z team expects to build a sustainable community throughout Asia. Sungmo Park will work directly with founders to strengthen market connectivity and promote crypto adoption across the region.
“This is just the beginning,” Albanese Chia . “In the coming years, we anticipate continuing to expand our presence in Asia, increasing support for crypto companies operating here, and continuously exploring ways to expand our global footprint.”
From Naver to a16z: Park's journey in the Web3 world.
Sungmo Park, born in 1993, began his career at Nomura in 2016. He then moved to IGA Works, ST Unitas, and Naver , where he held product management Vai . Since 2021, he has been involved in Web3 and co-founded OnePlanet, an Non-Fungible Token platform built on Polygon and backed by Animoca Brands and Hashed. In 2022, Park joined Polygon Labs, becoming Head of Business Development in Korea, and later Head of Business Development in APAC. At Monad Foundation, he led the APAC region and contributed to building a Layer 1 blockchain capable of processing 10,000 transactions per second.
