PANews reported on December 11th, citing Bloomberg, that venture capital firm a16z Crypto will open an office in Seoul, South Korea, joining a growing number of digital asset companies expanding into Asia. Anthony Albanese, COO of a16z Crypto, stated that the region “now accounts for a significant share of global cryptocurrency activity. In the coming years, we plan to expand our presence in Asia, enhance new capabilities to support our locally operating cryptocurrency companies, and continue to explore new ways to expand our geographic footprint.” Albanese noted that South Korea is the second-largest cryptocurrency market, with nearly one-third of South Korean adults holding cryptocurrency. The company has appointed Sungmo Park to head its Asia-Pacific operations. Park previously served as the Asia-Pacific head of the Monad Foundation, which operates its own blockchain.