Overview
- Currenc Group and Animoca Brands signed a non-binding term sheet and entered a three-month exclusivity period to negotiate definitive agreements.
- The proposed transaction would be executed via an Australian scheme of arrangement, with Animoca investors owning roughly 95% of the combined entity and Currenc shareholders about 5%, and Currenc expects to authorize a dual‑class structure.
- Currenc plans to spin off its AI solutions and digital remittance businesses to existing shareholders prior to closing.
- Market reaction was swift as CURR shares jumped sharply, with reports pointing to a near-doubling and the stock set to open at $3.78 in New York trading.
- Animoca brings 600+ investments and a diversified digital-asset treasury; it previously disclosed $165 million in 2024 revenue from its Digital Assets Advisory unit and plans to open a New York office as it expands in the U.S.