Animoca Brands, a leading Hong Kong-based blockchain investment and gaming company, is preparing for an initial public offering (IPO) in New York in 2025. The company points to President Donald Trump's more relaxed regulatory stance on digital assets as a key factor enabling its entry into the US capital markets. According to executive chair Yat Siu, Animoca’s US listing decision is driven not by market conditions but by strategic timing and positioning.
The company has grown significantly since its 2020 delisting from the Australian Securities Exchange, now managing $4.3 billion in assets and boasting substantial stakes in crypto industry leaders such as OpenSea, Kraken, and Consensys. Animoca is also one of the largest non-financial crypto firms globally, holding $300 million in cash and stablecoins as well as over $538 million in digital assets.
Animoca’s leadership cites the US regulatory environment under Trump, including the SEC dropping enforcement cases and the Justice Department’s dissolution of its crypto-focused unit, as a unique opportunity for overseas firms. Several Animoca portfolio companies, such as Kraken, are reportedly considering their own US listings, and other blockchain firms like OKX and Nexo have recently announced reentry or expansion plans in the US.
The company expects its IPO move to bolster both mainstream financial engagement with digital assets and growth in Web3 gaming. Past challenges—like regulatory woes in Australia—are being mitigated by a focus on compliance and governance as Animoca seeks to set new precedents for crypto businesses accessing public markets.