Animoca Brands and Currenc Group (Nasdaq: CURR) have extended the exclusivity period on their proposed reverse merger through to 30th June 2026. This highlights the continued momentum toward what would be the most significant public listing of a consumer-facing blockchain app and gaming companies, not to forget Animoca’s extensive other investments.
The deal, first outlined in a term sheet signed on 2nd November 2025, would see Currenc acquire all equity interests in Animoca Brands.
Post-completion, Animoca shareholders would own approximately 95% of the combined entity, with existing Currenc shareholders retaining 5%. The merged company would operate under the Animoca Brands name and trade on Nasdaq.
In this way, Currenc Group is effectively serving as the shell vehicle for Animoca’s public market debut. This reverse merger route sidesteps the lengthy and uncertain traditional IPO process, giving Animoca a cleaner path to US capital markets at a time when regulatory clarity around digital assets is gradually improving.
This process also puts a nominal price on Animoca’s future value as a public company. Currenc’s current market capitalization of $435 million values Animoca at $8.7 billion, up from $2.4 billion when the deal was announced.
The exclusivity extension prevents either party from engaging with competing proposals while due diligence and definitive documentation are finalized. The parties are targeting a Q3 2026 close, with a long stop date of 31st December 2026 that can be extended by mutual agreement for a further six months if needed.
Currenc CEO Alexander King Ong Kong framed the extension as a reflection of the meaningful progress both teams have made in advancing toward definitive agreements. Animoca’s executive chairman Yat Siu emphasized the strategic value of a Nasdaq listing and noted the extension provides the window needed to complete the detailed work required.
For the broader web3 gaming ecosystem, the implications are substantial. Animoca Brands sits at the centre of one of the most extensive investment and partnership networks in blockchain gaming, with stakes in hundreds of projects spanning metaverse platforms, NFT marketplaces, play-to-earn games, and digital property rights infrastructure. A successful Nasdaq listing would not only provide Animoca with access to deeper capital pools but would also lend further institutional legitimacy to the sector.
The deal remains subject to due diligence, definitive agreements, regulatory approvals, and shareholder votes on both sides, so there is still plenty of work to be done. But the extension suggests both parties remain committed to getting it across the line.
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