Animoca Brands Drops Currenc Talks—But Why Now?

TLDR

• Animoca Brands suspended reverse merger talks with Currenc Group after both sides found the proposed timeline unsuitable.
• The planned deal would have given Animoca shareholders about 95% ownership of the combined company.
• Animoca Brands said it remains committed to securing a listing on a major public exchange.
• The company continues work on audited financial statements needed to support its public-market plans.
• Currenc Group remains Nasdaq-listed and continues to focus on AI, fintech, and tokenization services.

Animoca Brands has suspended reverse merger talks with Currenc Group, ending its path toward a Nasdaq listing. The companies said the closing timetable no longer matched their short- and medium-term goals. They cited changing market conditions after reviewing the proposed transaction.

Animoca Brands Pauses Currenc Merger Plan

Animoca Brands and Currenc started discussions in November 2025. Under the proposed structure, Currenc would acquire Animoca through an Australian scheme of arrangement. Animoca shareholders would hold about 95% of the combined company, while Currenc shareholders would retain the rest.

The companies may restart talks if conditions improve. Animoca said it still plans to list on a public exchange. That goal comes as traditional exchanges increase work around blockchain markets. NYSE tests blockchain rails as it explores tokenized stocks and exchange-traded funds.

Public Listing Work Continues

Co-founder and executive chairman Yat Siu said corporate agility now takes priority over the Currenc transaction. He added that Animoca continues audit work needed to meet public-market compliance standards. The company published its audited fiscal 2023 report in July 2026.

Animoca is preparing its fiscal 2024 audited financial statements. The work forms part of its effort to return to public markets after the Australian Securities Exchange removed the company in 2020. ASIC later took action over delayed annual and half-year reports.

The broader market is changing around digital assets and public securities. Tokenized U.S. stocks gain a regulatory path under a new SEC framework for regulated platforms. Such developments show continued activity around blockchain-based financial infrastructure as Animoca reviews other routes to a listing.

Currenc Deal Leaves Door Open

Currenc remains listed on Nasdaq and focuses on fintech services tied to artificial intelligence and tokenization. Its shares closed Monday at $3.23, up 1.25%, before falling 0.93% in after-hours trading. The companies did not announce a new timetable for merger talks.

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Animoca Brands continues to operate across Web3, gaming, NFTs, DeFi and AI investments. S&P Global backs Kaiko’s tokenized markets expansion, another move linking established finance with digital asset infrastructure. Animoca has also grown its advisory services alongside its investment activities.

The suspension ends the transaction process but not Animoca Brands’ public listing plan. The company said it will keep evaluating routes to a major exchange while completing required audits and related compliance work.