Hong Kong-based blockchain investor and developer Animoca Brands has announced plans to list on Nasdaq through a reverse merger with U.S. financial firm Currenc Group Inc., Bloomberg reported. The deal is expected to be completed in 2026.
Following the merger, Animoca shareholders will own approximately 95% of the new holding company. Among the firm’s investors are Kingsway Capital, 50T Funds, and SoftBank, according to Animoca’s executive chairman Yat Siu.
Analysts describe this move as Animoca’s return to the public market. The company was delisted from the Australian Securities Exchange in 2020 for listing rule violations related to its cryptocurrency operations.
Company Strategy
Animoca holds equity stakes and tokens in more than 600 crypto projects, including Consensys and the exchange Kraken, both of which are also preparing for public listings.
According to Siu, most of the company’s portfolio consists of startup tokens, and a dedicated internal team actively trades them to generate returns.
“We are essentially taking leveraged bets on altcoins,” Siu said.
New Projects
Experts note that closing the deal will depend on regulatory approval in the United States and Australia, where Animoca is registered, as well as on the publication of the company’s audited financial statements for recent years.
Siu stated that Animoca is profitable, but financial results for the current year have not yet been released.
Animoca and Currenc have signed a letter of intent and agreed to a three-month period of exclusive negotiations. Currenc, which operates in the remittance and financial services sector, plans to spin off some of its assets outside the transaction.
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