Animoca suspends Currenc merger over “corporate agility”

Animoca Brands and Nasdaq-listed Currenc Group have suspended talks on a proposed reverse merger that would have taken Animoca public, according to The Block’s report. The companies said the time required to close the transaction no longer matched their short- and medium-term goals after reviewing projected timelines and “evolving market conditions.”

The plan was first announced in November 2025. From that announcement to the suspension on September 21, 2026, the proposed route to the public market lasted roughly 10 months. The calculation is visible from the fact sheet’s two dates: November 2025 to September 2026.

Animoca’s stated reason is flexibility. Yat Siu, its co-founder and executive chairman, said “corporate agility must take precedence” over pursuing the merger.

The reverse merger would have had Currenc acquire Animoca through an Australian scheme of arrangement. Animoca shareholders would have held a collective 95% stake in the combined company. That ownership structure explains why the deal was primarily a listing route for Animoca, while Currenc Group Inc. is a Singapore-based fintech focused on AI and tokenization solutions.

The immediate consequence is clear for both sides. Animoca shareholders lose the timetable attached to the Currenc transaction, and Currenc loses the announced path to combine with Animoca. Neither company has provided a new closing date in the facts available here. Animoca, however, said it remains committed to relisting on a major exchange.

That commitment follows a long compliance trail. Animoca was delisted from the ASX in 2020 after scrutiny of its involvement in crypto-related activities. In 2022, the Australian Securities and Investments Commission convicted and fined the company for failing to lodge its 2019-2021 annual reports and some half-year reports.

Animoca published an audited report for fiscal 2023 in July 2026 as part of its efforts to return to the public market. Siu said the company is advancing “the comprehensive audit processes required to meet the rigorous compliance standards of a major public exchange” and will continue to pursue “optimal routes to a public listing.”

That leaves the public-market objective in place, but removes the specific transaction that was meant to deliver it. The next material question is which route Animoca selects after Currenc; the company has not specified one in the available account.

The 95% shareholder allocation attached to the proposed deal remains part of a suspended plan, with no stated completion date after September 21, 2026.