Animoca Brands suspends Currenc merger talks over timing

Animoca Brands suspended discussions on a proposed reverse merger with Currenc Group Inc. that would have enabled the digital asset investment company to secure a Nasdaq listing. The companies decided that the proposed timeframe for finalizing the transaction did not align with their respective goals, Animoca announced on Tuesday. Talks began late last year, and the plan called for Animoca to own 95% of the merged company. Hong Kong-based Animoca said it remained fully committed to listing on a major public exchange. Co-founder Yat Siu said the company would continue to pursue optimal routes to a public listing. Animoca's portfolio spans decentralized finance, artificial intelligence, non-fungible tokens and gaming, and its advisory services have accounted for an increasing share of revenue in recent years. Currenc shares closed at $3.23 on Monday, up 1.25% on the day, before falling 0.93% in after-hours trading.