Crypto venture capital firm Andreessen Horowitz (a16z) is opening its first Asia-based office in South Korea to support portfolio companies with growth, partnerships, and community building in the region. The firm sees a significant share of global cryptocurrency activity in Asia, with nearly a third of South Korean adults owning digital assets.

India leads global adoption rankings, Japan’s onchain activity grew 120% in the past year, Singapore has high rates of crypto ownership, and 11 of the top 20 countries for crypto adoption are in Asia. A16z plans to expand further in Asia over the coming years to support crypto companies operating in the region and explore new ways to expand its geographic footprint.

The move is not just about capital deployment but being embedded where users and builders are. The new Seoul office is led by SungMo Park, who will help a16z Crypto’s founders access new markets and scale by leveraging his industry experience, networks, and relationships in the region.

In related news, Sygnum reported that six in 10 surveyed Asian high-net-worth individuals are willing to increase their crypto allocations based on a strong long-term outlook. The survey also found that 87% of affluent Asian investors already hold crypto, with around half having an allocation of more than 10%.

Read more at Cointelegraph: A16z Opens First Asian Office In Seoul For Crypto Expansion