a16z opens its first office in Asia: Park from Naver and Monad to lead the team

a16Z, the legitimate cryptocurrency-focused arm of Andreessen Horowitz, has officially entered the Asian market with the opening of its first regional office in Seoul, South Korea.

A Silicon Valley venture capital fund has appointed Sungmo Park as Asia Pacific market leader to lead its Seoul operations. Park brings extensive regional experience from his previous roles at the Monad Foundation and Polygon Laboratories.

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Asia is emerging as a global powerhouse in the field of digital currencies

Chief Operating Officer Anthony Albanese made the announcement. The decision to establish a physical presence in Asia reflects the growing dominance of the region in global cryptocurrency adoption. Chainalysis reports that the Asia-Pacific region accounted for $2.36 trillion in value on the chain during the twelve months to June 2025. This figure represents an increase of 69% from $1.4 trillion the previous year.

South Korea is The second largest digital currency market in the worldwith almost one in three adults owning digital assets – a rate that exceeds stock ownership. Japan has seen activity on the chain increase by 120% in the past year. Singapore has one of the highest rates of cryptocurrency holdings in the world. About 40% of Gen Z and Millennials in the country invest in digital assets.

India tops the Chainalysis Global Cryptocurrency Adoption Index, driven by the adoption of mobile-first technology and limited access to traditional banking services. It should be noted that 11 of the top 20 countries in Chainalysis’ Global Cryptocurrency Adoption Index are located in Asia.

The Seoul launch follows the strengthening of the presence of other venture capital and cryptocurrency firms in Asia. Competition for business, talent and growth increases as the region’s influence expands. Gaming and social blockchain applications are particularly popular in the mobile-centric Asian culture, providing unique opportunities for a16z portfolio companies.

The Seoul office will support a16z portfolio companies as they enter Asian markets. It will also form strategic partnerships across the region. The team aims to build sustainable communities across Asia. Park will work directly with the founders to strengthen market connectivity and accelerate cryptocurrency adoption across the region.

“This is just the beginning,” Albanese said. “In the coming years, we plan to expand our presence in Asia, add new capabilities to support cryptocurrency companies operating there, and continue to explore new ways to expand our geographic footprint.”

From Naver to A16Z: The Park’s journey through the web 3

Born in 1993, Park began his career at Nomura in 2016. From there, he moved to IGA Works and ST Unitas. and Naverwhere he worked as a product manager. In 2021, he entered the web3 space and co-founded OnePlanet, a Polygon-based NFT marketplace backed by Animoca Brands and Hashed. He joined Polygon Labs in 2022 and became Head of Business, Korea, then Head of Business Development, Asia Pacific. At the Monad Foundation, he served as Asia-Pacific Region Leader. Help build a single-layer blockchain capable of processing 10,000 transactions per second.