We are excited to announce that a16z crypto is expanding into Asia and opening our first office in Seoul, South Korea. As part of this, we’re thrilled to have SungMo Park join our team as Head of APAC go-to-market to lead the Seoul office and start building our presence in the region.
Our latest State of Crypto report shows that onchain users are widely distributed around the world, with a particularly strong concentration in Asia. It now represents a significant share of global crypto activity, for example:
- South Korea is the second-largest crypto market with nearly one in three South Korean adults owning crypto (outpacing stock investors);
- Japan has seen onchain activity grow 120% in the past year;
- Singapore has one of the world’s highest rates of crypto ownership, including 40% of Gen Z and Millennials;
- India is ranked first in Chainalysis’s Global Crypto Adoption Index, and 11 of the top 20 countries are in Asia.
Our expansion will offer go-to-market support for portfolio companies seeking to accelerate growth, forge strategic partnerships, and build lasting communities across Asia. SungMo will work closely with the founders in our portfolio, and also in his corporate network, to strengthen market connectivity and accelerate crypto adoption across the continent.
SungMo brings deep experience and expertise across both enterprise and crypto-native ecosystems. Most recently, he was APAC Lead at Monad Foundation, where he built out their go-to-market and ecosystem strategies across East Asia, Greater China, South East Asia and India. Prior to Monad, he was Head of APAC Business Development at Polygon Labs, where he led enterprise partnerships and collaborations with emerging crypto projects. He speaks four languages: Korean, Japanese, Chinese, and English.
This is just the beginning. Over the coming years, we plan to grow our presence in Asia, add new capabilities to support our crypto companies operating there, and keep exploring new ways to expand our geographic footprint.
Welcome, SungMo!
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