Catenaa, Friday, November 07, 2025- Hong Kong-based Animoca Brands plans to return to the public markets through a $1 billion reverse merger with Nasdaq-listed Currenc Group, aiming to complete the deal by late 2026.
Under the non-binding agreement, Animoca shareholders would control about 95% of the merged entity, while Currenc investors would retain roughly 5%.
The structure would create a Cayman Islands-based holding company for Nasdaq listing, subject to shareholder, court, and regulatory approvals in the United States and Australia.
Animoca also maintains partnerships with Standard Chartered and HKT to develop a Hong Kong dollar stablecoin and is working on tokenizing real-world assets through Provenance Blockchain Labs.
The firm’s valuation, once near $6 billion in 2022, dropped to about $1.5 billion in 2024 amid broader crypto market declines. Still, it holds $4.3 billion in total assets and nearly $300 million in cash and stablecoins.
Republic has separately announced plans to tokenize Animoca shares on Solana, expanding investor access to its equity through blockchain platforms.
