Andreessen Horowitz’s crypto arm, a16z Crypto, is making its first major push into Asia with the opening of a new office in Seoul, South Korea — a strategic move that highlights the region’s increasingly dominant role in global crypto adoption. The firm announced on Tuesday that the new hub will support founders, deepen partnerships and provide on-the-ground expertise as Asia becomes one of the most active markets for blockchain development and onchain users.
The expansion comes as venture capital interest in digital assets cautiously rebounds and as institutional and retail participation grows sharply across major Asian economies.
Asia Becomes the Center of Gravity for Onchain Activity
A16z Crypto managing partner Anthony Albanese said the decision to enter South Korea reflects the region’s outsized influence on the crypto ecosystem. Nearly one-third of South Korean adults now own digital assets, a rate that places the country among the world’s most active markets for crypto trading and decentralized applications.
The firm noted that Asia represents a “particularly strong concentration” of onchain users. Chainalysis data shows 11 of the top 20 countries for crypto adoption are in Asia, including high-growth markets such as India, Vietnam, the Philippines, and Thailand. India leads the global adoption index, while Japan has seen onchain transaction activity rise 120% over the past year.
Singapore also maintains one of the highest crypto ownership rates globally, driven by its regulatory clarity and status as a regional financial hub.
For a16z Crypto — which manages multiple billion-dollar funds — embedding itself in Asia positions the firm at the epicenter of user growth, developer activity and Web3 innovation.
Seoul Office Will Focus on Go-to-Market and Strategic Expansion
The new Seoul office will be led by SungMo Park, previously an executive at Polygon Labs, where he played a central role in ecosystem expansion across Asia. Park said he intends to leverage his network and regional experience to help portfolio companies scale more effectively.
“Founders need more than capital — they need cultural context, partnerships, and access,” Park noted on X. “Asia offers all of this at scale.”
A16z Crypto said the Seoul office will support portfolio companies with market entry strategies, community building, and relationships with developers and institutions across Korea and the broader region.
The firm also signaled that its Asia expansion is just beginning. Albanese said a16z plans to grow its regional footprint further in the coming years, with additional offices and capabilities expected.
Asian Investors Are Increasing Exposure to Digital Assets
The move comes amid growing confidence in cryptocurrencies among Asian high-net-worth individuals. According to a new Sygnum report, 87% of affluent Asian investors already hold crypto, and six in 10 plan to increase allocations due to a strong long-term outlook.
Notably, half of surveyed investors maintain a crypto allocation above 10%, far exceeding typical levels in Europe or the United States.
This deepening investor engagement contrasts with the regulatory uncertainty still lingering in Western markets, making Asia a more favorable environment for builders and VCs alike.
A Strategic Bet on Where the Next Wave of Web3 Will Be Built
A16z Crypto’s expansion into South Korea underscores the shifting dynamics of global crypto innovation. While the U.S. continues to play a central role in capital formation, Asia has become the world’s largest base of active users, developers and early adopters.
With Seoul as its first Asian hub, a16z is placing a long-term bet that the next generation of Web3 infrastructure, consumer apps and decentralized networks will be built — and scaled — in the region.
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