Polymarket · The Block
Animoca Brands pauses merger agreement that would have taken it public
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Animoca Brands, a major investor in both web3 and AI startups, and Nasdaq-listed Currenc Group have suspended talks on a proposed reverse merger that would have taken Animoca public.
Key facts
- In 2022, the Australian Securities and Investments Commission convicted and fined Animoca for failing to lodge 2019-2021 annual reports and some half-year reports
- Once traded on the Australian Securities Exchange, Animoca was delisted from the ASX in 2020 following scrutiny of its involvement in crypto-related activities
- The reverse merger plan, first announced in November 2025, would have seen Currenc acquire Animoca through an Australian scheme of arrangement, leaving Animoca shareholders with a collective 95%
- Animoca Brands, a major investor in both web3 and AI startups, and Nasdaq-listed Currenc Group have suspended talks on a proposed reverse merger that would have taken Animoca public
Summary
In a Tuesday announcement, Animoca said that the two companies mutually agreed that the time required to close the deal no longer aligns with their short- and medium-term goals, after reviewing projected timelines and "evolving market conditions. Yat Siu, Animoca's co-founder and executive chairman, said that the "corporate agility must take precedence" over pursuing the Currenc merger. "As they advance the comprehensive audit processes required to meet the rigorous compliance standards of a major public exchange, they will continue to pursue optimal routes to a public listing," Siu said in the Tuesday statement. Animoca added that it "remains fully committed to relisting on a major public exchange," and that the two companies may consider resuming merger discussions "if and when conditions permit.