Blab Crypto
Andreessen Horowitz Opens Seoul Office to Support Crypto Portfolio Amid South Koreas Digital Asset Regulatory Shift
Andreessen Horowitz (a16z), a U.S. venture‑capital firm that manages roughly $90 billion in assets, opened a new office in Seoul on 15 June 2026. The move marks the firm’s first physical presence in Asia and follows a December 2025 announcement that it would expand into the region.
The Seoul office is intended to provide go‑to‑market infrastructure for a16z’s crypto‑focused portfolio companies. Sungmo Park, who joined a16z as its crypto Asia‑Pacific lead in December, will run the new office. Park has previously held APAC roles at Monad Foundation and Polygon Labs and is fluent in Korean, Japanese, Chinese and English.
South Korea is a key market for digital assets. According to a16z’s own statement, about one in three Korean adults hold crypto, a participation rate that exceeds stock‑market ownership in the country. The country is also the second‑largest crypto market worldwide by trading volume.
The firm cited several factors in its decision to open in Seoul. These include the country’s highly skilled technical workforce, strong consumer adoption of digital assets, and a competitive position across industries such as artificial intelligence, manufacturing, defense and content creation.
The timing of the opening coincides with a wave of activity by other crypto firms in Korea. In May, Tether filed seven trademark applications with the Korean intellectual‑property office. In April, Ripple signed pilot programs with KBank, a local financial institution. Cosmos Labs acquired the Mintscan blockchain explorer and established a Seoul subsidiary in March. Circle’s CEO Jeremy Allaire visited Seoul in May and met with executives at KB Financial Group, Shinhan Financial Group and Hana Financial Group.
South Korea is also preparing a Digital Asset Basic Act (DABA) that would require foreign stable‑coin issuers to maintain domestic branches if they wish to distribute tokens locally. By establishing a physical presence now, a16z is positioning itself and its portfolio companies to comply with the forthcoming rules.
Unlike Circle, which has signed partnerships with exchanges Dunamu (operator of Upbit) and Bithumb and has stated it will seek a local subsidiary and license, a16z does not require a license and does not plan to launch a product. Instead, the firm will use the Seoul office to help its portfolio companies enter the Korean and broader Asian markets.
The firm has not disclosed which portfolio companies will first use the Seoul office for market entry. However, Park’s mandate covers all of Asia‑Pacific, so the office could also serve as a staging point for expansion into Japan, Singapore and India, all markets that a16z identified as high‑growth in its December announcement.
The launch of the Seoul office reflects a broader trend of U.S. crypto investors establishing a presence in South Korea. The country’s high crypto adoption rate, coupled with a regulatory environment that is moving toward greater oversight, has attracted significant foreign interest.
The Digital Asset Basic Act is expected to pass as early as January 2026. The act would create a comprehensive legal framework for issuing, trading, holding and supervising digital assets, and would introduce bank‑style oversight for stablecoins. The act also formally ends a long‑standing ban on corporate cryptocurrency investments.
At present, a16z’s Seoul office will focus on crypto before gradually expanding its scope. The firm’s strategy is to build infrastructure that enables its portfolio companies—spanning protocols, infrastructure and applications—to reach Korean users and partners more easily.
The move comes at a time when South Korea is positioning itself as a leading hub for digital‑asset innovation. The country’s technology ecosystem, combined with a large and active consumer base, makes it an attractive destination for crypto firms seeking to expand in Asia.
In summary, Andreessen Horowitz’s Seoul office is a strategic step to support its crypto portfolio in a market with high adoption and an evolving regulatory framework. The firm’s focus on infrastructure rather than product launch signals a long‑term commitment to the region.
The Seoul office is intended to provide go‑to‑market infrastructure for a16z’s crypto‑focused portfolio companies. Sungmo Park, who joined a16z as its crypto Asia‑Pacific lead in December, will run the new office. Park has previously held APAC roles at Monad Foundation and Polygon Labs and is fluent in Korean, Japanese, Chinese and English.
South Korea is a key market for digital assets. According to a16z’s own statement, about one in three Korean adults hold crypto, a participation rate that exceeds stock‑market ownership in the country. The country is also the second‑largest crypto market worldwide by trading volume.
The firm cited several factors in its decision to open in Seoul. These include the country’s highly skilled technical workforce, strong consumer adoption of digital assets, and a competitive position across industries such as artificial intelligence, manufacturing, defense and content creation.
The timing of the opening coincides with a wave of activity by other crypto firms in Korea. In May, Tether filed seven trademark applications with the Korean intellectual‑property office. In April, Ripple signed pilot programs with KBank, a local financial institution. Cosmos Labs acquired the Mintscan blockchain explorer and established a Seoul subsidiary in March. Circle’s CEO Jeremy Allaire visited Seoul in May and met with executives at KB Financial Group, Shinhan Financial Group and Hana Financial Group.
South Korea is also preparing a Digital Asset Basic Act (DABA) that would require foreign stable‑coin issuers to maintain domestic branches if they wish to distribute tokens locally. By establishing a physical presence now, a16z is positioning itself and its portfolio companies to comply with the forthcoming rules.
Unlike Circle, which has signed partnerships with exchanges Dunamu (operator of Upbit) and Bithumb and has stated it will seek a local subsidiary and license, a16z does not require a license and does not plan to launch a product. Instead, the firm will use the Seoul office to help its portfolio companies enter the Korean and broader Asian markets.
The firm has not disclosed which portfolio companies will first use the Seoul office for market entry. However, Park’s mandate covers all of Asia‑Pacific, so the office could also serve as a staging point for expansion into Japan, Singapore and India, all markets that a16z identified as high‑growth in its December announcement.
The launch of the Seoul office reflects a broader trend of U.S. crypto investors establishing a presence in South Korea. The country’s high crypto adoption rate, coupled with a regulatory environment that is moving toward greater oversight, has attracted significant foreign interest.
The Digital Asset Basic Act is expected to pass as early as January 2026. The act would create a comprehensive legal framework for issuing, trading, holding and supervising digital assets, and would introduce bank‑style oversight for stablecoins. The act also formally ends a long‑standing ban on corporate cryptocurrency investments.
At present, a16z’s Seoul office will focus on crypto before gradually expanding its scope. The firm’s strategy is to build infrastructure that enables its portfolio companies—spanning protocols, infrastructure and applications—to reach Korean users and partners more easily.
The move comes at a time when South Korea is positioning itself as a leading hub for digital‑asset innovation. The country’s technology ecosystem, combined with a large and active consumer base, makes it an attractive destination for crypto firms seeking to expand in Asia.
In summary, Andreessen Horowitz’s Seoul office is a strategic step to support its crypto portfolio in a market with high adoption and an evolving regulatory framework. The firm’s focus on infrastructure rather than product launch signals a long‑term commitment to the region.
