Hong Kong is positioning itself as a listing venue for Animoca Brands Corp., according to its co-founder Yat Siu.

Siu noted the Web3 giant, headquartered in the city, is observing an increase in digital asset activity as local officials work to establish the region as a global crypto hub.

While Siu acknowledged that plans for an IPO might take several years to finalize, he emphasized that Animoca Brands is currently focusing on improving its business operations.

Animoca shares are trading on secondary markets, with valuations fluctuating between $1.5 billion and $3 billion.

Siu also said Animoca is not actively seeking to raise new capital at this time.