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.
Animoca Brands Returns To Public Markets
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.
Notable investors in Animoca include Kingsway Capital, 50T Funds, and SoftBank, as stated by the company’s executive chairman Yat Siu in a recent interview with Bloomberg.
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 Brands follows other firms that have entered the public sector. Circle (CRC), the issuer of USDC, is one of the most notable ones, amid President Trump’s support for the growth of digital assets in the country in 2025.
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.
Siu indicated that much of Animoca Brands’ portfolio consists of tokens from startups, and the company has a dedicated team focused on trading these cryptocurrencies to generate returns. “We consider ourselves basically a levered bet on altcoins,” he remarked.
New York Office On The Horizon
The merger with Currenc is contingent upon regulatory approvals in both the US and Australia, where Animoca’s corporate entity is registered. Additionally, it depends on Animoca providing audited financial statements for previous years.
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.
With more than 700 employees, Animoca Brands is also planning to establish a new office in New York. Siu highlighted that President Donald Trump’s favorable stance toward the cryptocurrency industry played a significant role in the decision to pursue a US listing.
“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
