Animoca Brands pauses Currenc Group merger talks

Animoca Brands halted merger negotiations with Currenc Group on Sept. 22, CryptoSlate reported. The digital asset venture and the Nasdaq-listed entity mutually decided to pause talks after they could not reach definitive terms within the deadline.

A reverse merger plan emerged in a non-binding term sheet dated Nov. 2, 2025. The initial framework suggested Animoca shareholders would control approximately 95% of the new company, whereas current Currenc investors would keep around 5%. Both parties pushed the exclusivity deadline back to June 30 and planned to finalize by the third quarter, but no binding contract was ever signed.

As September arrived, the exclusivity term expired. In a regulatory document, Currenc explained that stopping the talks gives it greater room to seek financing for expansion and daily operations, while still allowing the possibility to restart negotiations. Animoca cited anticipated closing dates and changing market dynamics as reasons the prolonged schedule conflicted with its strategic goals.

Yat Siu, co-founder and Executive Chairman of Animoca, emphasized the firm’s commitment to flexibility as it advances toward a public debut.

“We hold the proposed merger with Currenc Group in high regard, yet our operational nimbleness remains paramount,” Siu remarked, explaining that Animoca is proceeding with audit processes and other regulatory duties essential for a significant public exchange.

Animoca proceeds with preparing FY2024 audited financial statements within a wider regulatory initiative and stays dedicated to returning to a major exchange. No fresh agreements or timelines have surfaced since the talks stopped.