By Colin Kellaher

Shares of Currenc Group rose sharply in premarket trading Monday after the fintech said it inked a non-binding term sheet to combine with digital asset ecosystem Animoca Brands in a reverse merger.

Currenc and Animoca on Monday said Animoca's investors would own about 95% of the combined company under the proposed deal structure, while Currenc shareholders would own roughly 5%.

A reverse merger allows a private company to go public by merging with a public one at a lower cost than is involved in traditional initial public offerings.

Animoca and Currenc said the proposed merger would create the world's first publicly-listed, diversified digital assets conglomerate.

Currenc said it plans to spin off some of its existing business operations to its current shareholders prior to the closing of the merger.

Currenc shares, which closed Friday at $3.78, were recently up 17% to $4.43 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 03, 2025 08:25 ET (13:25 GMT)

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