Animoca Plans Nasdaq Listing Via Reverse Merger With Currenc

Animoca Brands, a major venture capital investor in the cryptocurrency industry, is planning a Nasdaq listing next year via a reverse merger with AI-focused public fintech company Currenc Group.

Currenc has entered into a non-binding term with Animoca to acquire 100% of the issued shares of Animoca Brands through a reverse merger aimed at a Nasdaq listing under the name Animoca Brands, according to at a joint statement on Monday.

“Upon completion of the reverse merger, Animoca Brands shareholders will collectively own approximately 95% of the issued shares in the merged entity,” Animoca co-founder Yat Siu. he said in a letter to shareholders. The remaining 5% would be held by the shareholders of Currenc.

The companies expect the merger to close in 2026, resulting in a Nasdaq-listed company with a global growth strategy covering crypto investments, tokenization of real world assets (RWA). and other applications of blockchain technology.

Animoca’s portfolio includes 628 companies and organizations

The proposed merger will result in the “world’s first publicly traded diversified digital asset conglomerate” with “direct access to the growth potential of the trillion-dollar altcoin digital economy,” Siu said in the announcement.

The next diversified vehicle will be several sectors, including decentralized finance (DeFi)AI, games and decentralized science (DeSci)he added.

Since its launch in 2014, Hong Kong-based Animoca Brands has become one of the largest VC players in crypto, with its portfolio boasting 628 companies and organizations worldwide.

“We believe this proposed transaction will usher in a new asset class that should place investors at the forefront of one of the greatest opportunities of our generation,” Siu said.

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The Currenc Group was founded by technology and fintech entrepreneur King Ong Kong in 2011 with a mission to transform global financial services through AI. Its services include digital payments, cross-border finance, AI-driven financial services, e-wallets and data centers.

“In 2024 alone, Currenc handled more than $5.4 billion and facilitated more than 13 million cross-border transactions,” Siu said.