Animoca Brands Shifts Focus to Stablecoin Initiative and Real-World Asset Tokenization While Preparing for Nasdaq IPO

Animoca Brands Eyes Expansion into Stablecoin and Real-World Asset Tokenization

One of the major players in the crypto and web3 startup sectors, Animoca Brands, is setting its sight on growing its stablecoin and real-world asset (RWA) tokenization initiatives in the coming year. This new revelation was disclosed by the company’s Chief Strategy Officer, Keyvan Peymani.

Animoca’s Major Stablecoin Initiative

According to Peymani, Animoca Brands is launching headfirst into the stablecoin field. “We’re going to launch into the stablecoin initiative in a major way. We’re launching this RWA marketplace,” said Peymani in a recent interview with CNBC. He views this as a completely new sector for the company and an incredible opportunity to make a big impact.

New Joint Venture and Expected Stablecoin License

In August 2021, Animoca Brands officially announced that it was establishing a Hong Kong joint venture with Standard Chartered and Hong Kong Telecommunications. The joint venture will be named Anchorpoint Financial and it is expected to apply for a license to issue stablecoins from local authorities. This is a significant step towards achieving its stablecoin initiatives.

Deals for Real-World Asset Tokenization

To drive its RWA tokenization plans, Animoca Brands has already forged some strategic partnerships this year. This includes associations with Fosun Wealth, a global wealth management platform, and FinChain, a blockchain finance firm. These partnerships aim to bridge Asia’s traditional finance sector with Web3 by distributing Fosun’s RWA products to global investors. Animoca Brands also made known its partnership with Nasdaq-listed asset manager Hang Feng Technology Innovation Co. with the goal of developing an RWA tokenization ecosystem.

Impact on Traditional Finance

Animoca Brands Group President, Evan Auyang, expressed confidence that their initiatives will make institutional-grade assets much more liquid and accessible. This move he believes is a necessary step toward building a more inclusive on-chain financial system.

Animoca’s In-House Projects Expansion

Simultaneously, Peymani stated that the company will continue to grow its in-house projects which include The Sandbox, Moca ID, Anichess, and EDU Chain. As a company that began its journey as a mobile game developer and made early investments in Web3 games, Animoca Brands will remain true to its roots, Peymani asserted.

Going Public on the Nasdaq

Earlier this month, Animoca announced plans to go public on the Nasdaq next year. This plan will be accomplished through a reverse-merger with Currenc Group Inc., a Singapore-based fintech that focuses on artificial intelligence. If the merger successfully completed, Animoca would gain the majority ownership of Currenc and take on its listing on the Nasdaq. This move would subsequently allow Animoca’s vast portfolio of digital asset projects to gain direct access to U.S. investors. This planned merger-IPO joins a growing list of crypto companies that have recently debuted in the U.S. public market, including Coinbase, Circle, Bullish, and Exodus.

Final Words

Expressing his expectations for the company’s future, Peymani said, “We think we’re one of those opportunities for someone to gain broad access to what is a really exciting growing market. What we aim to do is whenever there’s something interesting and exciting happening, we’re gonna become one of the market leaders. We will be a way for the entire industry and the entire retail sector to benefit from the change.”