Animoca Brands and Currenc Group Discuss Potential Merger
Hong Kong-based blockchain company Animoca Brands has signed a non-binding term sheet with U.S.-listed Currenc Group Inc. (Nasdaq: CURR). The agreement outlines a possible takeover, allowing Animoca to list on the Nasdaq stock exchange.
Under the proposal, Currenc would acquire all Animoca shares through an Australian scheme of arrangement. Animoca shareholders would receive newly issued Currenc shares in return.
If completed, Animoca investors would own about 95% of the combined company. Existing Currenc shareholders would retain roughly 5%.
The deal is still in the early stages. Both companies must complete due diligence, obtain board approvals, finalize terms, and secure shareholder and court approvals in Australia.
This merger would enable Animoca to join a Nasdaq-listed group. It would provide shareholders easier access to U.S. capital markets and potentially better liquidity. Animoca said the structure, with Currenc incorporated in the Cayman Islands, aligns with its global focus because it has only a small Australian presence.
Advisors and Leadership Comments
Animoca Brands appointed Galaxy Digital Partners LLC and Moelis & Company LLC as financial advisors. Herbert Smith Freehills Kramer and Latham & Watkins LLP serve as legal counsel in Australia and the U.S., respectively.
Yat Siu, Animoca’s co-founder and executive chairman, said the proposal was “sufficiently compelling” to start formal due diligence. He added a Nasdaq listing would allow more investors to access Animoca’s digital asset portfolio, but only if a binding deal is reached.
Alexander Kong, founder and CEO of Currenc Group, called the merger a “transformative milestone.” He said it would help Animoca enter U.S. public markets and create long-term value for both shareholders. Kong added, “We are excited to facilitate this evolution, giving our investors ownership in a global leader at the forefront of the digital asset economy.”
No immediate changes will affect Animoca shareholders, and no action is required at this time. A final agreement and shareholder vote could occur in 2026 if the deal progresses.
Crypto Firms Seek Growth Through Nasdaq Listings
Recently, many crypto and blockchain companies have moved toward Nasdaq listings for better access to U.S. investors. In September, Canadian company SOL Strategies Inc., focused on the Solana ecosystem, began trading on the Nasdaq Global Select Market while maintaining its Canadian listing.
Also in September, Gemini, the crypto exchange founded by the Winklevoss twins, prepared for its Nasdaq debut. Nasdaq invested $50 million in Gemini ahead of its IPO. If successful, Gemini will join Coinbase and Bullish as one of the few U.S. crypto exchanges publicly traded on Nasdaq.
