Animoca Brands will partner with Siri Group and invest in its subsidiary GROW Digital Wealth

PANews reported on December 16th that Animoca Brands announced on its official blog that it has signed a letter of intent with GROW Investment Group (GROW), an investment and asset management platform. According to the letter of intent, Animoca Brands will establish a strategic partnership with GROW and make an equity investment in GROW Asset Management (HK) Limited. GROW Asset Management (HK) Limited will subsequently be renamed GROW Digital Wealth (GDW) and become GROW's flagship platform.

Under the proposed partnership agreement, Animoca Brands and GROW will develop GDW into one of the first platforms in Asia to simultaneously offer cryptocurrency and traditional financial investment products to family offices and ultra-high-net-worth individuals. GDW holds Type 1 (Securities Dealing), Type 4 (Securities Advising), and Type 9 (Asset Management) licenses issued by the Hong Kong Securities and Futures Commission. Animoca Brands plans to bring crypto assets (including real-world assets) to the GDW platform, while GROW will bring its select investment products to GDW. Independent Financial Advisors (IFAs) will be able to offer cryptocurrency and traditional financial products to their clients through GDW's institutionally compliant platform. As part of the proposed transaction, Animoca Brands plans to acquire up to 15% of GDW's equity, subject to a final agreement and any necessary approvals.