Animoca Brands and Currenc plan landmark Nasdaq merger

Blockchain powerhouse Animoca Brands has entered into a non-binding term sheet with investment company Currenc Group regarding a potential reverse merger.

The proposal would see Currenc acquire 100% of Animoca Brands’ issued shares via an Australian scheme of arrangement. The merged company would operate under the Animoca Brands name, with both parties targeting 2026 for the deal completion.

The merger could consolidate Currenc Group’s expertise in AI-driven financial technology with Animoca Brands’ extensive ecosystem of digital asset investments.

Under the proposed terms, Animoca Brands shareholders would receive newly issued shares in Currenc. 

Upon completion, these shareholders would collectively own approximately 95% of the combined entity, with existing Currenc shareholders holding the remaining 5%. 

This allocation is subject to final agreement on the treatment of convertible instruments. A new class of ordinary shares in Currenc would be created for Co-Founder and Executive Chairman Yat Siu and his controlled entities.

The transaction is conditional upon several precedents, including approvals from the shareholders of both companies and Australian court approval. If implemented, the merger would create a Nasdaq-listed entity described as the world’s first publicly-listed, diversified digital assets conglomerate.

Siu stated that the proposed merger would provide investors with “direct access to the growth potential of the trillion-dollar altcoin digital economy through a single, diversified vehicle.” He added that it could also “usher in a new asset class.”

In a separate transaction, Nasdaq-listed AlphaTON Capital signed a letter of intent to acquire a 51% stake in GAMEE, an Animoca Brands web3 gaming platform.

Animoca Brands’ portfolio spans more than 600 companies across digital-asset verticals, including blockchain infrastructure, NFTs, decentralised finance, and tokenised real-world assets.

The planned divestment of GAMEE follows Animoca Brands’ strategy of managing a broad entertainment and gaming portfolio, which also includes titles like Anichess and ONE Fight Arena.