Animoca Nasdaq Listing: 2026 Reverse Merger With Currenc Outlined

Animoca Nasdaq will pursue a U.S. listing via a reverse merger with Currenc Group, the company said on Nov 3, 2025.

How will the Animoca Nasdaq listing process unfold?

Deal mechanics — The companies disclosed the proposed reverse merger on Nov 3, 2025. Yat Siu, Co‑Founder and Executive Chairman of Animoca Brands, said:

as reported by CoinDesk.

Timing and approvals — The parties expect the transaction to close in 2026 after shareholder and regulatory approvals.

The structure is designed to secure a Nasdaq listing without a traditional IPO; definitive terms and the timetable will become clearer as required filings and disclosures are made public.

The reverse merger route aims to broaden Animoca’s investor base and speed U.S. market access while remaining subject to regulatory clearance and shareholder votes.

How did Animoca Digital Assets revenue perform in 2024?

Revenue split — Animoca’s Digital Assets Advisory unit reported $165 million in revenue in 2024, a 116% year‑on‑year increase, while Web3 gaming and NFT revenue fell 40% to $110 million. These figures point to a divergence between institutional advisory growth and consumer‑facing product volatility.

Analysts note that advisory‑led revenue can be more resilient than gaming and NFT sales, which tend to track consumer sentiment and industry cycles. Investors will watch how management reconciles these streams when full public disclosures follow.

How has Currenc Group merger details driven the stock reaction and what is the shareholder approval timeline? In brief:

Market response — Market reaction was immediate: CURR shares rose 118% in the last five days, and the stock was set to open at $3.78 in New York following the announcement.

The spike reflects short‑term appetite for a listed vehicle that aggregates digital‑asset assets and services, but early moves can be volatile.

Additional company materials and governance proposals are available from Currenc; see the company release for transaction details (Currenc press release).

Stock moves around merger news can be volatile and subject to reversal as terms are finalised and approvals are sought.

The proposed transaction positions the combined group for a Nasdaq presence while exposing investors to both advisory growth and the cyclicality of gaming and NFT revenue streams. The deal remains conditional on 2026 shareholder and regulatory approvals.