Animoca Brands suspends Currenc deal that would have taken it public

Animoca Brands, a digital asset venture, has suspended merger talks with Nasdaq-listed Currenc Group after the companies failed to reach definitive terms on schedule.On Sept. 22, the companies said they mutually agreed to pause discussions after reviewing projected closing timelines and changing market conditions, concluding that the additional time needed to complete the transaction no longer aligned with their short- and medium-term priorities.Currenc said in a regulatory filing that its exclusivity period with Animoca had expired without a definitive agreement. Suspending negotiations gives the company greater flexibility to seek financing for growth and operations while preserving the option to restart talks later.The proposed reverse merger, first outlined in a non-binding term sheet on Nov. 2, 2025, would have provided Animoca with a route back to public markets. Animoca shareholders were expected to own about 95% of the combined company, leaving existing Currenc investors with roughly 5%.The transaction remained subject to due diligence, definitive documentation and a series of corporate, regulatory and court approvals. The preliminary ownership split could also have changed...