AI · CryptoSlate
Both sides have left open the possibility of restarting negotiations if conditions improve
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Key facts
- The proposed reverse merger, first outlined in a non-binding term sheet on Nov. 2, 2025, would have provided Animoca with a route back to public markets
- Animoca Brands, a digital asset venture, has suspended merger talks with Nasdaq-listed Currenc Group after the companies failed to reach definitive terms on schedule
- Animoca co-founder and Executive Chairman Yat Siu said the company was prioritizing flexibility as it works toward a public listing
- The companies were still pursuing the transaction in May, when they extended exclusivity through June 30 and maintained a target of closing in the third quarter
Summary
Animoca Brands, a digital asset venture, has suspended merger talks with Nasdaq-listed Currenc Group after the companies failed to reach definitive terms on schedule. On Sept. 22, the companies said they mutually agreed to pause discussions after reviewing projected closing timelines and changing market conditions, concluding that the additional time needed to complete the transaction no longer aligned with their short- and medium-term priorities. Currenc said in a regulatory filing that its exclusivity period with Animoca had expired without a definitive agreement. The proposed reverse merger, first outlined in a non-binding term sheet on Nov. 2, 2025, would have provided Animoca with a route back to public markets. The transaction remained subject to due diligence, definitive documentation and a series of corporate, regulatory and court approvals.