The Defiant - DeFi Podcast Why Yat Siu Believes Altcoins Will Surpass Bitcoin
Oct 21, 2025
Yat Siu, co-founder of Animoca Brands and a visionary in Web3 and gaming, shares insights on digital identity and the future of altcoins. He unveils plans for a Hong Kong dollar stablecoin, emphasizing its potential to combat digital fraud. Siu discusses the creation of the Mocaverse, a system allowing verifiable identities across chains, and argues that altcoins might collectively eclipse Bitcoin due to their innovation and utility. He also predicts that upcoming games, like GTA 6, will drive mainstream adoption of crypto in gaming.
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Click-Farm Problem Needs Reputation
- Web3 currently suffers from 'click-farm' style fraud where identities are flimsy and easily fabricated.
- Yat Siu argues a portable digital reputation system can solve this at scale using on-chain proofs.
Anchor Point Joint Venture
- Animoca formed a joint venture with Standard Chartered and Hong Kong Telecom called Anchor Point and applied for an HKMA stablecoin license.
- The initial stablecoin contemplated is Hong Kong dollar–based and targets regional commerce and trade.
China Limits Tokenizing Onshore Assets
- China’s recent messaging targets tokenizing onshore Chinese assets, not Hong Kong or international issuers.
- Yat Siu positions Hong Kong as a potential crypto bridge between East and West, distinct from mainland restrictions.