Animoca Manufacturers, a significant enterprise capital investor within the cryptocurrency trade, is planning a Nasdaq itemizing subsequent yr through reverse merger with the AI-focused public fintech firm Currenc Group.
Currenc has entered a non-binding time period sheet with Animoca to amass 100% of Animoca Manufacturers’ issued shares through a reverse merger focusing on a Nasdaq itemizing beneath the Animoca Manufacturers title, in accordance with a joint assertion on Monday.
“Upon completion of the reverse merger the shareholders of Animoca Manufacturers would collectively personal roughly 95% of the issued shares within the merged entity,” Animoca co-founder Yat Siu stated in a letter to shareholders. The remaining 5% can be held by Currenc shareholders.
The businesses count on the merger to shut in 2026, leading to a Nasdaq-listed firm with a worldwide development technique spanning crypto investments, real-world asset (RWA) tokenization and different blockchain expertise purposes.
Animoca’s portfolio consists of 628 firms and organizations
The proposed merger will outcome within the “world’s first publicly-listed, diversified digital belongings conglomerate” with “direct entry to the expansion potential of the trillion-dollar altcoin digital financial system,” Siu stated within the announcement.
The upcoming diversified automobile will characteristic a number of sectors, together with decentralized finance (DeFi), AI, gaming and decentralized science (DeSci), he added.
Since its launch in 2014, Hong Kong-based Animoca Manufacturers has emerged as one of many largest VC gamers in crypto, with its portfolio boasting 628 firms and organizations globally.
“We consider that this proposed transaction would usher in a brand new asset class that ought to place buyers on the forefront of one of many best alternatives of our era,” Siu stated.
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Currenc Group was based by expertise and fintech entrepreneur King Ong Kong in 2011 with the mission to remodel international monetary providers by way of AI. Its providers span digital funds, cross-border finance, AI-driven monetary providers, e-wallets and information facilities.
“In 2024 alone, Currenc processed over $5.4 billion and facilitated greater than 13 million cross-border transactions,” Siu stated.
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