Animoca Brands is a major venture capital firm in the cryptocurrency industry, planning to go public on Nasdaq next year through a reverse merger with the publicly listed fintech company Currenc Group, which focuses on artificial intelligence.
According to a joint statement released on Monday, Currenc has signed a non-binding term sheet with Animoca to acquire 100% of the issued shares of Animoca Brands through a reverse merger, with the goal of listing under the Animoca Brands name on Nasdaq.
"After the reverse merger is completed, shareholders of Animoca Brands will collectively own approximately 95% of the issued shares of the merged entity," said Animoca co-founder Yat Siu in a letter to shareholders. The remaining 5% will be held by Currenc shareholders.
The two companies expect the merger to be completed in 2026, forming a Nasdaq-listed company with a global growth strategy that encompasses cryptocurrency investment, tokenization of real-world assets (RWA), and other blockchain technology applications.
Siu stated in the announcement that the proposed merger will create "the world's first publicly listed diversified digital asset group," allowing direct access to the trillion-dollar growth potential of the altcoin digital economy.
He added that the upcoming diversified entity will cover multiple sectors, including decentralized finance (DeFi), artificial intelligence, gaming, and decentralized science (DeSci).
Since its establishment in 2014, Animoca Brands, headquartered in Hong Kong, has become one of the largest venture capital firms in the cryptocurrency space, with a portfolio that includes 628 companies and organizations worldwide.
"We believe this proposed transaction will create a new asset class and should position investors at the forefront of one of the greatest opportunities of our generation," Siu said.
Currenc Group was founded in 2011 by technology and fintech entrepreneur King Ong Kong, with a mission to transform global financial services through artificial intelligence. Its services include digital payments, cross-border finance, AI-driven financial services, e-wallets, and data centers.
"In 2024 alone, Currenc processed over $5.4 billion, facilitating more than 13 million cross-border transactions," Siu said.
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Original article: “Animoca plans to go public on Nasdaq through reverse merger with Currenc”
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