
Andreessen Horowitz opens its first Asian office in Seoul as South Korea prepares a Digital Asset Basic Act requiring foreign stablecoin issuers to maintain local branches.
Andreessen Horowitz opened a Seoul office Tuesday, the firm said, becoming the latest major crypto venture firm to plant a flag in a market where roughly one in three adults holds digital assets. The office is a16z's first in Asia and will focus on go-to-market support for its portfolio companies seeking Korean users and partners.
South Korea is the second-largest crypto market globally by trading activity, according to a16z's December 2025 Asia expansion announcement. That same announcement noted that crypto ownership among Korean adults exceeds stock-market ownership in the country.
The move comes as South Korea prepares its Digital Asset Basic Act. The law will require foreign stablecoin issuers to maintain domestic branches if they want to distribute tokens locally. By establishing a physical presence now, a16z positions itself and its portfolio companies to comply before the rules take effect, the firm said.
Other crypto firms have been making similar moves. Tether filed seven trademark applications with Korea's intellectual property office in May. Circle CEO Jeremy Allaire toured Seoul in the same month, meeting executives at KB Financial Group, Shinhan Financial Group, and Hana Financial Group. Ripple signed pilot programs with KBank in April. Cosmos Labs acquired the Mintscan blockchain explorer and set up a Seoul subsidiary the same month.
Sungmo Park, who joined a16z as its crypto Asia-Pacific go-to-market lead when the Asia expansion was announced in December, will run the Seoul office. Park previously held APAC roles at Monad Foundation and Polygon Labs and speaks Korean, Japanese, Chinese, and English.
Unlike Circle, which has signed partnerships with exchanges Dunamu (operator of Upbit) and Bithumb while telling Korean media it would seek a local subsidiary and license, a16z does not require a license and does not intend to launch a product. Instead, it is building go-to-market infrastructure so its existing portfolio companies – spanning crypto protocols, infrastructure, and applications – can reach Korean users and partners more easily.
The firm has not disclosed which portfolio companies will be first to use the Seoul office for market entry. 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 a16z flagged as high-growth in its December announcement.
The Digital Asset Basic Act is still in proposal stage. The pattern of foreign firms jockeying for position suggests compliance costs and timelines will be a material factor for any crypto project targeting Korean users. a16z's early positioning gives its portfolio a potential advantage over competitors that have not yet established a local presence.
The Seoul office opens with crypto-focused work and plans to widen its scope over time, a16z said.
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