A16z Crypto Launches Seoul Office to Boost Asia Crypto Growth

A16z crypto opens its first Asia office in Seoul, led by Sungmo Park, to tap South Korea’s strong crypto market and developer community, aiming to support startups and accelerate crypto adoption across the region.

A16z crypto, the venture capital fund of Andreessen Horowitz, has expanded into Asia by opening its first regional office in Seoul, South Korea. The decision to establish a presence in Seoul was influenced by South Korea’s status as the world’s second-largest crypto market, its vibrant onchain community, and a robust developer ecosystem. Sungmo Park, with experience at Monad Foundation and Polygon Labs, has been appointed to lead the new office. The Seoul hub aims to foster partnerships, support startups and established firms, and accelerate community growth across Asia. A16z crypto highlighted that nearly one-third of South Korean adults own cryptocurrency, and the country’s exchanges, such as Upbit, are recognized for high trading volumes. The office will also help portfolio companies enter Asian markets and build distribution networks, reflecting a16z’s commitment to supporting crypto innovation in the region. The move underscores the growing importance of Asia in the global crypto landscape, with significant adoption and activity reported in South Korea, Japan, Singapore, and India.