Animoca Brands Ends Reverse-Merger Talks With Nasdaq-Listed Currenc, Seeks Other Listing Route
Summary
- Animoca Brands said it has ended reverse-merger talks with Nasdaq-listed Currenc Group and is seeking another route to a stock market listing.
- Animoca said its plan for a relisting on a major exchange is unchanged and that it is conducting a comprehensive audit process to meet strict regulatory compliance standards.
- Animoca said it is preparing a return to public markets through financial statement audits after its past delisting from the Australian Securities Exchange (ASX) and a guilty ruling and fine.
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Animoca Brands, a major investor in Web3 and artificial intelligence, has ended talks on a reverse merger with Nasdaq-listed Currenc Group and is seeking another path to a public-market listing.
Animoca said on September 22 that it and Currenc had mutually agreed to terminate merger discussions. After reviewing the expected timeline for completing the deal and the changed market environment, the companies concluded that the time required for the merger no longer aligned with their short- and medium-term goals.
Animoca co-founder and Executive Chairman Yat Siu said the company should prioritize agility over pursuing a merger with Currenc.
Animoca will continue to evaluate the best listing route while carrying out the comprehensive audit work needed to meet the strict compliance standards of major stock exchanges, he added.
Animoca said its plan to relist on a major exchange remains unchanged. It also left open the possibility of resuming merger talks with Currenc if conditions become favorable.
The companies first announced the reverse-merger plan in November 2025. Under the proposed structure, Currenc would acquire Animoca through an Australian scheme of arrangement, with existing Animoca shareholders owning 95% of the combined company.
Animoca was previously listed on the Australian Securities Exchange, or ASX, but was delisted in 2020 after authorities investigated its crypto-related business. In 2022, it was found guilty and fined by the Australian Securities and Investments Commission for failing to file annual reports for 2019 through 2021 and some half-year reports.
Since then, Animoca has been working through outstanding financial-statement audits as part of its effort to return to public markets. It released its audited fiscal 2023 report in July and is now preparing an audit of its fiscal 2024 financial statements.
Currenc Group is a Singapore-based fintech company focused on AI and tokenization solutions. Earlier in September, it announced an agreement with MINT to move MINT's Nasdaq-listed shares on-chain.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.