Animoca Brands suspends merger talks with Nasdaq‑listed Currenc Group

Animoca Brands, a digital‑asset venture, announced that it is suspending its merger discussions with Nasdaq‑listed Currenc Group. The pause follows the expiration of an exclusivity period that did not produce a binding agreement.

Reason for the suspension

Both parties cited projected closing timelines and changing market conditions as misaligned with their short‑ and medium‑term priorities. By suspending negotiations, Currenc gains flexibility to seek financing for growth and operations, while Animoca retains the option to restart talks later.

Background of the proposed transaction

The reverse merger was first outlined in a non‑binding term sheet on 2 November 2025. Under the preliminary structure, Animoca shareholders would have owned roughly 95 % of the combined entity, leaving existing Currenc investors with about 5 %.

The deal remained subject to due diligence, definitive documentation, and a series of corporate, regulatory, and court approvals. Ownership percentages could have shifted before closing.

Current status and future plans

Animoca’s co‑founder and Executive Chairman Yat Siu emphasized the need for corporate agility and noted that the company is advancing audit work and other compliance requirements needed for a future public‑market listing.

Animoca continues its broader plan to relist on a major exchange and is preparing its FY2024 audited financial statements as part of a wider compliance push. No replacement deal or new timetable has been disclosed.

Potential for renewed talks

Both sides have left open the possibility of restarting negotiations if conditions improve, though Currenc cautioned that there is no assurance the discussions will resume or result in a transaction.