Key Takeaways
- Animoca Brands is pursuing a Nasdaq listing through a non-binding reverse merger with the AI-focused public fintech company Currenc Group.
- The transaction, expected to close in 2026, will result in Animoca Brands shareholders collectively owning approximately 95% of the new Nasdaq-listed entity.
- The combined company aims to become the “world’s first publicly-listed, diversified digital assets conglomerate,” spanning DeFi, RWA tokenization, AI, and gaming.
Animoca Brands Secures Path to US Public Markets
In a landmark move for the digital asset sector, Animoca Brands, a powerhouse venture capital investor in the cryptocurrency industry, has announced a planned Nasdaq listing. The company intends to achieve this public market debut via a reverse merger with the Nasdaq-listed fintech firm Currenc Group. The companies have entered a non-binding term sheet in which Currenc will acquire 100% of Animoca Brands’ issued shares, with the resulting entity operating under the prominent Animoca Brands name. This strategic financial maneuver is designed to provide the crypto giant with direct access to US capital markets and a broader institutional investor base without undergoing a traditional Initial Public Offering (IPO).
The ownership structure of the proposed merger, expected to conclude in 2026, significantly favors Animoca Brands’ existing shareholders. According to a letter from co-founder Yat Siu, shareholders of Animoca Brands are set to own approximately 95% of the issued shares in the merged public entity, while Currenc shareholders will retain the remaining 5%.
Currenc, founded in 2011 by King Ong Kong, focuses on AI-driven financial services, and plans to spin off its existing AI and remittance businesses to current shareholders prior to the closing, signaling a clear shift in the public company’s core strategy towards digital assets.
Forging the World’s First Publicly-Listed Digital Assets Conglomerate
The planned merger is being touted as the formation of the “world’s first publicly-listed, diversified digital assets conglomerate.” This new Nasdaq-listed entity will possess a global growth strategy that harnesses Animoca Brands’ vast ecosystem of crypto investments and applies blockchain technology across numerous high-growth areas.
The future vehicle is set to encompass multiple sectors, including decentralized finance (DeFi), artificial intelligence (AI), blockchain gaming, and real-world asset (RWA) tokenization. Yat Siu revealed that this structure offers investors “direct access to the growth potential of the trillion-dollar altcoin digital economy.”
Since its 2014 launch, Animoca Brands, headquartered in Hong Kong, has firmly established itself as one of the cryptocurrency industry’s most influential venture capital heavyweights. The sheer breadth of its operations is stunning, encompassing a global portfolio that includes 628 companies and organizations. Driving this expansive network is Yat Siu’s core vision: to champion digital property rights, a concept he believes is absolutely fundamental to forging a more equitable digital future.
Meanwhile, Currenc Group brings notable real-world financial metrics to the table, having processed over $5.4 billion and facilitated more than 13 million cross-border transactions in 2024 alone, indicating a robust fintech operational foundation for the new conglomerate to build upon. This reverse merger is set to be a pivotal moment for institutional crypto adoption.
Final Thoughts
The reverse merger between Animoca Brands and Currenc Group is a game-changer, providing a major crypto VC an accelerated path to the Nasdaq and creating a unique public vehicle for diversified digital asset investment. While the 2026 closing date is subject to standard approvals, the move solidifies the institutional maturity of the Web3 sector and its growing ambition for traditional market access.
Frequently Asked Questions
What is a reverse merger in this context?
It’s a process where a private company (Animoca Brands) becomes publicly listed by acquiring a controlling stake in an existing public company (Currenc Group), bypassing the traditional IPO process.
What percentage of the new entity will Animoca shareholders own?
Animoca Brands shareholders will collectively own approximately 95% of the shares in the new Nasdaq-listed company.
What sectors will the merged company focus on?
The core focus will be on digital asset investments, RWA tokenization, decentralized finance (DeFi), AI, and blockchain gaming
