Andreessen Horowitz (A16z) crypto announced its expansion into Asia, opening its first office in Seoul, South Korea. The move comes in response to the region’s significant crypto market presence, with South Korea being the second-largest crypto market globally and nearly one in three South Korean adults owning cryptocurrency.

SungMo Park, previously APAC Lead at Monad Foundation and Head of APAC Business Development at Polygon Labs, will lead the expansion. The firm’s State of Crypto report highlights Asia’s critical role in global crypto activity, with countries like India ranking first in crypto adoption and Singapore showing high crypto ownership among younger generations.

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• Where is A16z crypto expanding? First office in Seoul, South Korea, with plans for broader Asian presence.

• Who is leading the expansion? SungMo Park, with experience across enterprise and crypto ecosystems.

• Why focus on Asia? Region represents significant crypto market share and high adoption rates.

• What are the expansion goals? Support portfolio companies, forge partnerships, and accelerate crypto adoption.

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