Animoca Brands suspends merger deal that would have taken it public
Animoca and Currenc halt reverse merger talks
Animoca Brands, a major investor in web3 and AI startups, and Nasdaq-listed Currenc Group have suspended discussions on a proposed reverse merger that would have taken Animoca public. The two companies said they mutually agreed that the time needed to close the deal no longer fits their short- and medium-term goals.
The decision came after reviewing projected timelines and what the companies described as evolving market conditions. Animoca said the two companies may resume merger discussions if and when conditions permit.
Key points
- The reverse merger plan was first announced in November 2025 and would have seen Currenc acquire Animoca through an Australian scheme of arrangement.
- Animoca shareholders would have received a collective 95% stake in the combined company under the original deal.
- Animoca stated it remains fully committed to relisting on a major public exchange.
What Animoca said about the delay
Yat Siu, Animoca's co-founder and executive chairman, said that corporate agility must take precedence over pursuing the Currenc merger. He added that as the company advances the comprehensive audit processes required to meet the rigorous compliance standards of a major public exchange, it will continue to pursue optimal routes to a public listing.
Animoca said it is actively progressing the preparation of its FY2024 audited financial statements, on top of the fiscal 2023 audited report it published in July 2026 as part of its efforts to return to the public market.
Animoca's path back to public markets
Animoca was once traded on the Australian Securities Exchange (ASX), a stock exchange based in Australia, but was delisted in 2020 following scrutiny of its involvement in crypto-related activities. In 2022, the Australian Securities and Investments Commission convicted and fined Animoca for failing to lodge annual reports for 2019 through 2021 and some half-year reports.
The company has been working through a backlog of audited financial statements to address those compliance issues and position itself for a possible relisting.
About Currenc Group
Currenc Group Inc. is a Singapore-based fintech company focused on AI and tokenization solutions. Earlier in September 2026, it announced an agreement with Mint to bring Mint's Nasdaq-listed shares onchain.
What remains unclear
The exact reasons behind the timing mismatch were not detailed beyond the reference to evolving market conditions. It is also unclear when or whether the two companies might resume merger discussions, as Animoca only stated this could happen if and when conditions permit.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.