Animoca Brands is preparing to go public through a proposed reverse merger with Nasdaq-listed fintech firm Currenc Group, a move that co-founder and executive chairman Yat Siu says will create the world’s first publicly traded digital assets conglomerate, offering investors direct exposure to the trillion-dollar altcoin economy.
The companies have signed a non-binding term sheet outlining plans for Currenc to acquire 100% of Animoca’s issued shares. “The proposed merger will give Nasdaq investors access to the growth potential of the decentralized digital economy through a single diversified vehicle spanning DeFi, gaming, NFTs, and AI,” Siu told Yellow news.
Siu said the transaction will ultimately be valued by the market, as the proposed structure focuses on ownership ratio rather than fixed pricing.
“Rigorous due diligence will take place in the months ahead,” he said, adding that the deal reflects how “U.S. investors now value crypto companies by the strength of their business, not just the price of bitcoin or any digital asset class.”
Animoca’s extensive portfolio includes more than 600 investments across Web3 sectors, from LayerZero and ConsenSys to Ledger and Humanity Protocol.
He framed the decision to pursue a reverse merger as a strategic move to scale rapidly while gaining institutional credibility, noting that “successful case studies including SoFi, DraftKings, and Vertiv” used similar listing strategies.
Currenc, which will divest its existing AI and remittance operations ahead of the merger, said the combination would create a diversified company spanning blockchain infrastructure, tokenized real-world assets, and digital asset investment.
If finalized, the merger would mark a milestone in the convergence of fintech and Web3, giving Animoca, long one of the sector’s most active investors, a foothold in public markets and U.S. regulatory visibility.
He added that the move “represents an important step in Animoca Brands’ evolution toward institutionalization.”
Siu said the company intends to apply “the same rigor expected of any U.S.-listed company,” including fair-value accounting for digital assets under international financial reporting standards and strict anti-money-laundering and sanctions compliance.
Upon completion, Animoca shareholders will hold around 95% of the merged entity, which will operate under the Animoca Brands name.
The merger is expected to close in 2026, pending regulatory and shareholder approval.