Animoca Brands announced today that it is filing for a Nasdaq listing via a reverse merger with Singapore-based Currenc Group (CURR).
“The Potential Transaction is sufficiently compelling for Animoca Brands to enter into the Term Sheet and to conduct due diligence on Currenc. We would be thrilled to collaborate with Currenc to bring Animoca Brands to Nasdaq,” Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, said in a release.
The deal is expected to close in 2026, after shareholder and regulatory approvals.
Currenc said in a release that intends to divest some of its existing business operations, which include AI-powered solutions for financial institutions and a digital remittance platform. These operations are expected to be spun off to Currenc’s current shareholders prior to the closing of the merger.
Earlier this year, Animoca disclosed that its Digital Assets Advisory unit generated $165 million in 2024, a 116% year-over-year increase that surpassed revenue from its traditional Web3 gaming and NFT business, which fell 40% to $110 million.
In the last five days, shares of CURR were up 118%. The stock is set to open at $3.78 in New York.
Animoca is also expected to open an office in New York as part of the U.S. listing.
