A16z Crypto, the enterprise capital fund of Andreessen Horowitz (a16z), has introduced that it’s increasing into Asia, opening an workplace in Seoul and hiring Sungmo Park to guide its operations within the area.
South Korea is the world's second-largest cryptocurrency market, the Andreessen Horowitz division stated in a weblog publish. The agency stated it plans to work with founders by constructing partnerships, strengthening distribution channels, and accelerating group development throughout the area, noting excessive ranges of crypto possession in South Korea and Singapore and rising on-chain exercise in Japan.
Hong Kong and Singapore have lengthy been the monetary capitals of Asia, whereas South Korea is the epicenter of cryptocurrency improvement. Within the case of a16z cryptocurrency, proximity to the place issues are literally being constructed, in addition to banking and regulation, might have been a key consider selecting Seoul because the Asian hub.
South Korea hosts one of the energetic on-chain communities on the planet, with crypto exchanges like Upbit often known as quantity powerhouses, and its developer ecosystem deep, resilient, and product-focused. Based on the fund, practically one-third of South Korean adults personal cryptocurrencies.
A former APAC chief at Monad Basis, Park will leverage his expertise at Monad Basis and Polygon Labs to guide go-to-market efforts and ecosystem improvement throughout East Asia, Larger China, Southeast Asia, and India, working with each early-stage groups and established corporations.
Up to date (December 10, 20:10 UTC): Right typo.
