Animoca Brands suspends reverse-merger talks to go public

Animoca Brands and Nasdaq-listed Currenc Group have mutually agreed to suspend talks on a proposed reverse merger that would have taken Animoca public. In a Tuesday announcement, Animoca said the time required to close the deal no longer aligns with the companies' short- and medium-term goals after a review of projected timelines and evolving market conditions. Animoca co-founder and executive chairman Yat Siu said corporate agility must take precedence over pursuing the merger. Siu also said Animoca is advancing the audit processes required to meet the compliance standards of a major public exchange and will continue pursuing routes to a public listing. Animoca said it remains fully committed to relisting on a major public exchange, and the companies may resume merger discussions if and when conditions permit. The plan, first announced in November 2025, would have involved Currenc acquiring Animoca through an Australian scheme of arrangement, with Animoca shareholders receiving a collective 95% stake in the combined company. Animoca previously traded on the Australian Securities Exchange but was delisted in 2020 after scrutiny of its crypto-related activities. The Australian Securities and Investments Commission convicted and fined Animoca in 2022 for failing to lodge its 2019-2021 annual reports and some half-year reports. Animoca has been working through a backlog of audited financial statements and published an audited fiscal 2023 report in July 2026. The company said it is also progressing the preparation of its fiscal 2024 audited financial statements. Currenc is a Singapore-based fintech focused on artificial intelligence and tokenization solutions. Earlier this month, Currenc announced an agreement with Mint to bring Mint's Nasdaq-listed shares onchain.