a16z crypto, the crypto-focused arm of Andreessen Horowitz, has announced its expansion into Asia with the opening of its first office in Seoul, South Korea.

SungMo Park will join as Head of APAC go-to-market, leading the Seoul office and building a regional presence.

The expansion follows the firm’s latest State of Crypto report, which highlights the increasing concentration of onchain activity in Asia.

The report notes that South Korea is the second-largest crypto market.

Nearly one in three adults in the country owns crypto, surpassing stock investors.

Japan has seen a 120% increase in onchain activity over the past year.

Singapore has one of the highest rates of crypto ownership globally, with 40% of Gen Z and Millennials holding crypto.

India ranks first in Chainalysis’s Global Crypto Adoption Index.

Overall, 11 of the top 20 countries are located in Asia, highlighting the region’s growing influence in global crypto activity.

The Seoul office will provide go-to-market support for portfolio companies.

It will help them accelerate growth, forge strategic partnerships, and build communities across Asia.

Park will work closely with portfolio founders. He will also leverage his corporate network to strengthen market connectivity and advance crypto adoption in the region.

SungMo Park brings extensive experience in enterprise and crypto-native ecosystems.

Previously, he served as APAC Lead at Monad Foundation, developing go-to-market and ecosystem strategies across East Asia, Greater China, South East Asia, and India.

He was also Head of APAC Business Development at Polygon Labs, where he led enterprise partnerships and collaborations with emerging crypto projects. Park speaks Korean, Japanese, Chinese, and English.

“This is just the beginning,”

a16z crypto said.

“Over the coming years, we plan to grow our presence in Asia, add new capabilities to support our crypto companies, and continue exploring ways to expand our geographic footprint.”

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