Currenc Group Inc. (NASDAQ:CURR) shares skyrocketed 25% on Monday after the fintech company announced plans for a reverse merger with Animoca Brands Corporation Limited, a global leader in digital assets and blockchain innovation.
The deal would create what the two firms describe as “the world’s first publicly listed digital assets conglomerate” on the Nasdaq exchange. According to the non-binding agreement, Animoca Brands shareholders would hold approximately 95% of the merged entity, while Currenc shareholders would retain around 5%.
Once completed, the combined company would operate under the Animoca Brands name, focusing on digital asset investments, real-world asset tokenization, and blockchain applications for both consumer and institutional markets. Animoca Brands currently manages a portfolio of over 600 companies in the digital asset space and maintains a treasury that includes Bitcoin, Ethereum, Solana, and other major cryptocurrencies.
“The proposed merger with Animoca Brands represents a milestone for Currenc. This proposed transaction provides a compelling path forward for the evolution of both companies and would unlock significant value for our shareholders,” said Alex Kong, Founder, CEO, and Executive Chairman of Currenc Group.
As part of the planned merger, Currenc will divest certain AI-driven financial solutions and its digital remittance platform, which will be spun off to existing shareholders prior to closing.
Both companies have entered into a three-month exclusivity period to negotiate final terms. The transaction is expected to close in 2026, pending shareholder and regulatory approvals as well as other customary closing conditions.