A16z Crypto Opens Seoul Office, Targeting Asian Blockchain Hub

South Korea presents compelling demographics for crypto funding, with almost a 3rd of adults within the nation proudly owning digital property.

South Korea Crypto Information

A16z Crypto, the cryptocurrency arm of Andreessen Horowitz, has launched its first Asian workplace in Seoul, marking a strategic enlargement right into a area that accounts for almost one-third of worldwide crypto adoption. The enterprise capital agency appointed former Polygon Labs govt SungMo Park to guide the South Korean operations.

The transfer displays Asia’s dominant place in on-chain exercise, with the agency citing a very sturdy focus of digital asset customers throughout the continent. Anthony Albanese, managing associate and chief working officer at a16z Crypto, stated the enlargement will present go-to-market assist for portfolio firms in search of progress alternatives, strategic partnerships, and group constructing all through the area.

South Korea presents compelling demographics for crypto funding, with almost a 3rd of adults within the nation proudly owning digital property. The agency recognized this as a major share of worldwide crypto exercise that warrants direct presence.

India presently leads world adoption rankings whereas Japan skilled 120% progress in on-chain exercise over the previous yr. Singapore maintains one of many world’s highest charges of crypto possession, based on knowledge from Chainalysis. Eleven of the highest 20 international locations for crypto adoption are situated in Asia.

The enlargement indicators the place one of many trade’s largest traders sees future progress potential. Albanese emphasised this marks only the start, with plans to develop the agency’s Asian presence over coming years and add new capabilities to assist crypto firms working within the area. The agency will proceed exploring methods to broaden its geographic footprint.

Park brings expertise from Polygon Labs to his new position. He stated his community, expertise, and relationships constructed over years within the trade will assist a16z Crypto’s founders entry not solely a brand new market, but additionally the regional context and information essential to scale operations successfully.

Sygnum reported this week that six in 10 surveyed Asian high-net-worth people plan to extend their crypto allocations primarily based on sturdy long-term outlook. The survey revealed 87% of prosperous Asian traders already maintain crypto, with roughly half sustaining allocations exceeding 10%.

The Seoul workplace positions a16z to be embedded the place customers and builders are concentrated, quite than merely deploying capital from a distance. The agency’s technique focuses on supporting portfolio firms with on-ground experience as they navigate Asian markets and construct lasting communities throughout a number of international locations within the area.

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