Animoca Brands Halts Currenc Merger but Maintains Public Listing Plans

What to Know

• Animoca Brands and Currenc suspended their reverse merger because projected timelines no longer matched both companies’ strategic and operational priorities.
• Animoca remains committed to a major public listing while completing audited financial statements and resolving its historical reporting compliance backlog.
• Currenc is pursuing artificial intelligence and tokenization initiatives independently, while Animoca evaluates alternative routes for returning to global public markets.

Animoca Brands and Nasdaq-listed Currenc Group have suspended their proposed reverse merger, delaying Animoca’s planned return to public markets. According to the announcement, both companies agreed that the completion timeline no longer supported their short- and medium-term business objectives.

They reached the decision while reviewing projected schedules, changing market conditions, and the strategic needs of their respective operations. Animoca co-founder and executive chairman Yat Siu explained that corporate agility must take priority over completing the Currenc transaction.

However, Siu confirmed that Animoca remains committed to securing a listing on a major public exchange through another suitable route. The companies initially unveiled the formal proposed reverse merger plan in November 2025 through an Australian scheme of arrangement.

Under the proposed structure, Currenc would have acquired Animoca before combining both businesses into one publicly traded company. Animoca shareholders would have received approximately 95% of the combined company, reflecting Animoca’s larger valuation and international operations.

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Audit Work Supports Animoca’s Listing Ambitions

Animoca previously traded on the Australian Securities Exchange, which removed the company from its official list in 2020. Its delisting followed concerns about cryptocurrency activities and compliance issues involving several outstanding financial reports.

In 2022, the Australian Securities and Investments Commission convicted and fined Animoca for failing to submit required reports. Those outstanding filings included annual reports covering 2019 through 2021 and several half-year financial statements.

Consequently, Animoca has worked through its reporting backlog while improving the disclosures needed for another public market listing. The company published its audited fiscal 2023 annual report in July 2026 as part of that compliance process.

Moreover, management is preparing audited fiscal 2024 financial statements, which could support future exchange applications or alternative listing arrangements.

Currenc Pursues Its Tokenization Strategy

Meanwhile, Currenc operates from Singapore and provides financial technology services involving artificial intelligence and tokenization infrastructure. That partnership reflects Currenc’s tokenization strategy but remains separate from the proposed combination with Animoca.

Although the merger has stopped, Animoca has not abandoned its goal of returning to public markets. Instead, the company will assess alternative listing routes while completing audits and monitoring conditions across global capital markets throughout the process.

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