A16z Crypto Announces the Opening of an Asia Office in Seoul

According to a blog post by a16z Crypto, as reported by Odaily Planet Daily, the fund is accelerating its expansion in the Asian market, opening an office in Seoul, South Korea, with a focus on supporting local entrepreneurs, expanding partnerships, strengthening distribution channels, and driving regional community growth.

a16z Crypto states that South Korea has become the world's second-largest crypto market, demonstrating strong on-chain activity, user engagement, and a robust developer ecosystem. In addition to South Korea, on-chain engagement in Singapore, Hong Kong, and Japan is also continuously increasing.

a16z Crypto states that compared to traditional financial centers, South Korea is a "true hub for crypto product development," and the choice of Seoul as its Asian hub is based on its strong local developer ecosystem and market vitality. Data shows that nearly one-third of adults in South Korea hold crypto assets.

The newly appointed head, Sungmo Park, previously served as the Asia-Pacific head of the Monad Foundation and was responsible for ecosystem expansion and GTM work in East Asia, Greater China, Southeast Asia, and India at Polygon Labs. Going forward, he will collaborate with early-stage teams and established companies to accelerate the development of the regional crypto ecosystem. (CoinDesk)