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US-based Ava Labs, the company behind crypto project Avalanche, has hired executives to lead its businesses in South Korea and Japan, two “priority markets ” for the company, said John Nahas, vice president of business development at Ava Labs.
The company has onboarded Justin Kim and Roi Hirata to lead its operations in South Korea and Japan. Kim was an investment banker at Korea Development Bank while Hirata was a founder of two startups and has been a long-time member of Avalanche’s ecosystem.
Ava Labs’ appointments follow several developments for the company in Asia. The company previously welcomed Alibaba Cloud, Tencent Cloud, and GREE to its ecosystem, with partnerships spanning verticals like gaming, entertainment, and infrastructure.
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“This flurry of recent APAC partnerships dovetails with the Avalanche brand’s explosive growth in the region,” the company wrote in a release. Ava Labs said Avalanche brand recognition in APAC grew by 44% in Q4 2022 versus Q3 2022.
The appointment comes after a harsh 2022 for Avalanche – like for most crypto projects last year. The company started 2022 strong with its token trading at around US$109. However, it saw massive sell-offs from April through May and is now struggling to hit US$20 in value.
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