3 November 2025
Dear shareholders of Animoca Brands,
Today marks a significant milestone for Animoca Brands. I am excited to share our strategic plan to list Animoca Brands on Nasdaq via a proposal for a reverse merger with pioneering fintech company Currenc Group Inc. (Nasdaq: CURR). Read the official press release at https://www.animocabrands.com/currenc-proposed-reverse-merger-with-animoca-brands.
Under the proposed structure, upon completion of the reverse merger the shareholders of Animoca Brands would collectively own approximately 95% of the issued shares in the merged entity, which is expected to operate under the Animoca Brands name.
Reflecting on the past several years, I am proud of how the company has grown and evolved during good times and also when market conditions were challenging. Seven years ago we began announcing our investments and partnerships in the blockchain space, including acquiring The Sandbox, co-launching an accelerator with Hedera Hashgraph, and launching various early crypto consumer products at a time when the digital asset industry’s market cap was less than $200 billion, with the value of Bitcoin hovering around $5,000 - $6,000, and that of Ethereum around $200.
Since those initial steps that took us into the cryptosphere, the market cap for crypto has grown exponentially to approach nearly $4 trillion even while facing significant challenges. Throughout this remarkable growth period, Animoca Brands not only expanded but also played a pivotal role in shaping the development of blockchain and tokenization. Our roots in blockchain gaming and NFTs have blossomed into an extensive ecosystem that spans infrastructure, AI, real-world assets (RWAs), stablecoins, DeFi, and beyond—serving as an engine that helps to power the entire crypto ecosystem.
Today, Animoca Brands boasts one of the most extensive and influential crypto portfolios globally, including 628 companies and organizations. Among them are some of the most successful ventures in crypto, such as Ledger, Igloo Inc., Humanity Labs, Telegram Open Network, Opensea, Aethir, Polygon, Layer Zero and many others. We support and develop crucial infrastructure and services that advance the mission of crypto, including digital identity solutions, innovative education-focused blockchain infrastructure and services for accreditation, AI-powered educational agents, and student loans. Our work empowers millions of people worldwide, creating new opportunities and helping to create entirely new economies.
Our collaborations extend into various ventures at the forefront of innovation: Anchorpoint, a stablecoin joint venture; NUVA, a platform we are creating with Provenance Blockchain Labs to accelerate access to RWAs; and a strategic partnership with SK Planet, one of South Korea’s largest information and communications technology platforms. These initiatives exemplify the ongoing evolution of Animoca Brands as a forward-thinking, institutionally-minded organization.
We recognized quite early on that our company needed to become more institutional in its approach and identity. In September of last year I wrote a piece arguing that it is in the best interests of Web3 projects to seek to be grounded and professional (see “How Web3 projects can stand out from the crowd”), and the intervening year has only strengthened my belief in this strategy.
Today, we are thrilled to announce that Animoca Brands has taken another important step to bolster its institutional strength by entering into a non-binding Letter of Intent to undertake a reverse merger with Currenc, a Nasdaq-listed fintech innovator spanning digital payments, cross-border finance, AI-driven financial services, e-wallets, and data centers. In 2024 alone, Currenc processed over US$5.4 billion and facilitated more than 13 million cross-border transactions.
Animoca Brands’ mission to champion digital property rights arises from the conviction that true digital ownership is fundamental to shaping a better future for all people. We strive toward the fulfilment of our vision to grow Animoca Brands into one of the most impactful, valuable, and mission-critical companies in the crypto industry – not only because we are focused on building value, but also because we believe that we can spur world-changing progress.
I extend my heartfelt thanks to our friends, partners, supporters, shareholders, fellow Animocans, the Animoca Brands family, and (of course) every one of our millions of token holders and customers. Your support has been instrumental in our journey and motivates us to work tirelessly toward a future in which the ownership of digital property is a universal reality.
With sincere appreciation and gratitude,
Yat Siu
Co-founder and Executive Chairman
Animoca Brands