Currenc Group Inc. (CURR) fell 2.12% to $3.70, down $0.08, after announcing plans for a reverse merger with Animoca Brands Corporation Limited.
Under the proposed non-binding term sheet, Animoca shareholders would own about 95% of the post-merger entity, with Currenc shareholders holding the remaining 5%. The companies expect the transaction to close in 2026, creating a publicly listed digital assets conglomerate focused on AI, blockchain, tokenization and real-world assets.
Currenc Group said it will move forward with negotiations and due diligence while working toward final agreements and regulatory approvals.
CURR opened near $3.78, reached a high of $4.43 and a low of $3.75, compared to a previous close of $3.78 on the Nasdaq. Trading volume surged to roughly 22.5 million shares, far above the average of about 0.56 million. The stock's 52-week range is $0.33 - $7.08.
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