Animoca Brands Halts Merger Talks with Nasdaq-Listed Currenc Group

Animoca Brands, a Hong Kong-based company that focuses on Web3-related businesses and investments, has temporarily halted its merger talks with Currenc Group. The halt is due to the agreement between the two companies.

Currenc Group is a fintech company listed on the Nasdaq in the US, and Animoca had announced plans to go public through a reverse merger (reversal) with Currenc on November 3, 2025. In this type of merger, an unlisted company merges with a listed company, allowing the former to become effectively listed.

The plan was for Currenc Group to acquire all of Animoca's shares in exchange for new shares issued by Currenc. After the merger, it is expected that Animoca's shareholders will hold approximately 95% of the combined company's shares and existing Currenc shareholders around 5%. The target completion date was set for the third quarter of 2026.

However, due to a change in market conditions and the estimated time required for the deal to be completed, the companies have decided to halt the talks. According to an SEC filing by Currenc Group on September 21, the exclusive negotiation period has ended, and the terms of the final merger agreement have not been confirmed.

Animoca Brands has announced that it will maintain its goal to list on a major exchange and is currently setting up its financial reporting structure in preparation for listing. The company published its audited financial statements for 2023 on July 17 and is working on its 2024 figures.