Hong Kong-based Animoca Brands, a major venture capital investor in the cryptocurrency market, announced on Monday its plans for an initial public offering (IPO) in the United States. This move will be executed through a reverse merger with Currenc Group, a fintech company specializing in artificial intelligence (AI) solutions.
The transaction is anticipated to close in 2026, at which point Animoca Brands shareholders are expected to hold approximately 95% of the new entity’s issued shares.
This upcoming listing marks Animoca’s return to public markets following its delisting from the Australia Securities Exchange (ASE) in 2020, which occurred due to concerns over breaches of listing rules related to its involvement in crypto activities.
Animoca boasts a diverse portfolio that includes tokens and equity stakes in over 600 crypto companies. This features investments in firms that are also planning to go public, such as blockchain infrastructure provider ConsenSys and the cryptocurrency exchange Kraken.
While Siu confirmed that Animoca Brands is profitable, he noted that the company has not yet disclosed its financial results for the current fiscal year.
Although a letter of intent has been signed, definitive agreements for the merger are still being finalized. Both companies have entered a three-month exclusivity period to complete the agreement.
“I mean, do I need to say Trump?” he stated, while also noting that a dual listing in Hong Kong remains a possibility, emphasizing the importance of the Asian market to the company’s overall strategy and user base.
Featured image from DALL-E, chart from TradingView.com
