Andreessen Horowitz Opens Seoul Office in Asian Expansion Push

Venture capital firm Andreessen Horowitz (a16z) opens its first Asian office in Seoul, targeting South Korea's large crypto market where nearly one in three adults owns digital assets. Led by Sungmo Park, the move positions a16z to comply with the upcoming Digital Asset Basic Act and follows similar expansions by competitors like Ripple and Tether. The office will provide go-to-market infrastructure for a16z's portfolio companies in the APAC region.

Seoul office opening

• ▪The Seoul office will be run by Sungmo Park, who previously held APAC roles at Monad Foundation and Polygon Labs.
• ▪U.S. venture capital firm Andreessen Horowitz (a16z) has officially opened an office in Seoul, its first in Asia.

South Korea crypto market

• ▪a16z cited South Korea's technical workforce, consumer adoption rates, and competitive position in industries like AI and manufacturing for its choice.
• ▪South Korea is the "second-largest crypto market" globally by trading activity.
• ▪Nearly one in three adults in South Korea owns digital assets, a participation rate higher than stock-market ownership in the country.

Competitor expansion moves

• ▪In May, Tether filed seven trademark applications with Korea’s intellectual property office.
• ▪Circle CEO Jeremy Allaire met with executives from KB Financial Group, Shinhan Financial Group, and Hana Financial Group.
• ▪Circle has also signed partnerships with South Korean exchanges Dunamu (operator of Upbit) and Bithumb.
• ▪In April, Cosmos Labs acquired the Mintscan blockchain explorer and established a Seoul subsidiary.
• ▪Ripple signed pilot programs with local financial institution KBank in April.

Digital Asset Basic Act

• ▪a16z's physical presence will help its portfolio companies comply with the new rules before they take effect.
• ▪South Korea is preparing a Digital Asset Basic Act.
• ▪The Digital Asset Basic Act will require foreign stablecoin issuers to maintain domestic branches to distribute tokens locally.

a16z Asia-Pacific strategy

• ▪The Seoul operation will initially focus on crypto before widening its scope.
• ▪The Seoul office may also serve as a base for expansion into Japan, Singapore, and India.
• ▪a16z is building go-to-market infrastructure for its portfolio companies rather than launching its own product.
• ▪a16z first announced plans to expand into Asia in December 2025.

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