On September 18, Yat Siu, a co-creator of Animoca Brands, said that Hong Kong, China, is a "strong competitor" for a potential listing of crypto venture capital and chain game developer Animoca Brands Corp. In an interview at a conference in Singapore, Siu said that part of the reason is that the company is headquartered in Singapore, and activities related to digital assets have expanded as officials seek to develop a crypto hub. But he said on Wednesday that any IPO plans could take "several years to really take shape," with the focus now being on building the business. Siu told the South China Morning Post last month that Animoca shares were valued at between $1.50 billion and $3 billion in the secondary market, compared with $5.90 billion in a funding round in 2022. Siu added that the company was not seeking to raise new capital.