Blockchain
Animoca Brands aims at the stock market in Hong Kong or the Middle East in 2025
Animoca Brands, the gaming and metaverse giant, is planning a return to the stock market by 2025, targeting the crypto-friendly jurisdictions of Hong Kong and the Middle East. This decision follows their delisting from the Australian Securities Exchange (ASX) in 2020, marking a significant shift in their strategic approach.
Considering Crypto-Friendly Stock Exchanges
Four years after being delisted from the ASX due to compliance concerns, Animoca Brands is now exploring stock exchanges in Hong Kong and the Middle East. These regions are recognized for their supportive stance towards cryptocurrency and blockchain technology. Despite holding discussions with various investment banks, Animoca Brands has yet to select a consultant or finalize the location for a potential initial public offering (IPO).
Financial Standing and Strategic Shift
As per their latest financial report, Animoca Brands holds assets totaling $2.7 billion, with $558 million in crypto assets. The company’s potential return to the stock market could be seen as a response to the ASX’s 2020 decision, which was based on the inconsistency of Animoca’s Web3 and crypto investments with the financial regulations of the time. In contrast, Hong Kong and the Middle East present more favorable environments for such investments.
Hong Kong and the Middle East: Crypto-Friendly Hubs
Hong Kong has recently approved ETFs on Bitcoin and Ethereum spot, reinforcing its ambition to become a regional crypto hub. Similarly, Dubai is working to reduce compliance costs for businesses under its Virtual Assets Regulatory Authority, creating a more conducive legal environment for crypto companies. This proactive stance contrasts sharply with the regulatory landscape in the USA.
Launch of NFT Sorah Launchpad
In June, Animoca Brands Japan launched the NFT Sorah launchpad, a platform designed to support projects and creators in selling their Non-Fungible Tokens (NFTs). This launchpad offers multifaceted support for sales and marketing strategies and features a loyalty program that provides various benefits to users. Sorah aims to connect Japan’s Web3 community with the global market, further solidifying Animoca Brands’ position in the NFT space.
Animoca Brands’ plan to return to the stock market by 2025 in more crypto-friendly jurisdictions reflects their commitment to leveraging blockchain technology for enhanced financial services. By targeting regions like Hong Kong and the Middle East, the company aims to capitalize on supportive regulatory environments, positioning itself for future growth in the rapidly evolving Web3 and crypto sectors.
Source: en.cryptonomist.ch
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The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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