Animoca Brands Announces Reverse Merger Plan for Nasdaq Listing

Web3 and digital asset investment firm Animoca Brands has entered into a non-binding term sheet for a reverse merger with Singapore based, Nasdaq-listed Currenc Group Inc. (Nasdaq: CURR), paving the way for the company's U.S. public market debut.

Under the proposed transaction, Animoca Brands shareholders would own approximately 95% of the combined entity, with current Currenc shareholders holding the remaining 5%. The merged company is expected to operate under the Animoca Brands name and trade on Nasdaq, with closing targeted for 2026 pending shareholder and regulatory approvals.

"The proposed merger of Animoca Brands and Currenc will result in the world's first publicly-listed, diversified digital assets conglomerate, giving investors on Nasdaq direct access to the growth potential of the trillion-dollar altcoin digital economy through a single, diversified vehicle," said Yat Siu, co-founder and executive chairman of Animoca Brands, in a statement on Monday.

Animoca Brands has built a portfolio of more than 600 companies spanning digital asset sectors including real-world asset tokenization, artificial intelligence, gaming, blockchain infrastructure, and decentralized finance. The firm's investment roster includes prominent crypto companies such as Ledger, Kraken, Igloo, Consensys, Humanity Protocol, and LayerZero.

The company maintains a digital asset treasury holding Bitcoin, Ethereum, Solana, MOCA, SAND, EDU, and various other tokens. Animoca Brands also participates in a joint venture developing a regulated stablecoin and has partnered with Provenance Blockchain Labs on NUVA, a platform for real-world asset access.

The merged entity will pursue a global growth strategy focused on digital asset investments and services, RWA tokenization, and blockchain applications for consumers and institutions. Currenc expects to implement a dual-class share structure, with the post-merger board including nominees from both companies.

Currenc Group, which currently provides AI-powered solutions for financial institutions and operates a digital remittance platform, plans to spin off its existing business operations to current shareholders before the merger closes.

"This proposed transaction provides a compelling path forward for the evolution of both companies and would unlock significant value for our shareholders," said Alex Kong, founder, CEO, and executive chairman of Currenc Group.

The transaction will be completed through an Australian scheme of arrangement and remains subject to due diligence, execution of definitive agreements, stock exchange approvals, and completion of applicable financial reporting. Both parties have agreed to a three-month exclusivity period to finalize terms.