Animoca Brands Targets Nasdaq Listing Via Reverse Merger With Currenc
, a leading global Web3 investor and digital asset company, is pushing toward a U.S. public listing by entering into a non-binding term sheet with Nasdaq-listed Currenc Group Inc.
The calls for Currenc to acquire 100 % of Animoca’s shares via a reverse merger, with Animoca shareholders retaining roughly 95 % ownership of the resulting entity. The combined company would operate under the Animoca Brands name and trade on Nasdaq.
Under the deal, Currenc plans to spin off or divest parts of its existing AI and remittance businesses, leaving the merged vehicle focused on blockchain, digital assets, and Web3 infrastructure.
Animoca’s treasury and portfolio make this merger especially notable. It holds a diversified digital-asset treasury including BTC, ETH, SOL, MOCA, SAND, and EDU, among other altcoins, and invests across more than 600 companies in verticals such as real-world asset tokenization, AI, gaming, blockchain infrastructure, and decentralized finance.
Its investment roster includes major names such as Ledger, Kraken, Igloo, Consensys, Humanity Protocol, and LayerZero.
Yat Siu, Co-founder and Executive Chairman of Animoca Brands, commented,
“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 spanning DeFi, AI, NFTs, gaming, and DeSci. We believe that this proposed transaction would usher in a new asset class that should position investors at the forefront of one of the greatest opportunities of our generation.”
Why This Animoca Deal Matters
This merger could mark one of the first publicly traded vehicles combining both active digital asset holdings and a broad venture portfolio under one U.S.-listed roof. Animoca, headquartered in Hong Kong, has previously been listed on the Australian Securities platform but delisted in 2020.
A reverse merger offers a quicker path to Nasdaq than a traditional IPO, but it also brings challenges—especially around how token holdings and private company investments will be valued, disclosed, and audited for U.S. investors.
The companies expect to finalize terms under a three-month exclusivity window before moving onto binding agreements, due diligence, shareholder votes, and regulatory approvals. The closing is tentatively targeted for 2026, although timelines may shift depending on jurisdictional approvals and structural conditions.
