Animoca Brands Targets $1 Billion Nasdaq Listing via Reverse Merger
Animoca Brands, the Hong Kong-based blockchain developer and crypto investment firm, has taken a decisive step toward public markets by entering a non-binding agreement with Nasdaq-listed Currenc Group. The reverse merger could value the company at $1 billion, with Animoca’s shareholders poised to control 95% of the combined entity.
The deal represents a comeback for Animoca, which was delisted from the Australian Securities Exchange in 2020 due to governance concerns tied to its crypto ventures. Since then, the company has built a formidable portfolio, including stakes in Consensys and Kraken, while generating $314 million in 2024 revenue—a 12% annual increase.
Regulatory hurdles remain, with approvals required from US and Australian authorities, alongside shareholder consent. The transaction’s three-month exclusivity period sets the stage for a potential closing by late 2026.
