Animoca Brands and Currenc Group Canceled Merger Plans
The companies mutually agreed to end a proposed reverse merger that was first announced in late 2025.
Updated on Sept. 22, 2026 in Corporate Finance
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Animoca Brands and Currenc Group have suspended their proposed reverse merger following a review of current market conditions and internal timelines. The deal, which would have seen Animoca shareholders hold a 95% stake, was abandoned to prioritize corporate agility.
Why it matters
The decision reflects a shift in strategic focus as the companies determine that the time required to finalize the deal no longer aligns with their long-term growth objectives. Animoca remains committed to finding alternative routes for a future public listing.
The aborted reverse merger structure would have granted Animoca shareholders a 95% stake in the combined entity. Animoca continues to prepare audited financial statements for fiscal year 2024 to support future public listing efforts.
The players
Animoca Brands
This company is an organization that focuses on digital entertainment, blockchain, and gamification.
Currenc Group
This firm is a Singapore-based business entity that was involved in the merger discussions.
Australian Securities and Investments Commission
This is the Australian government body responsible for corporate regulation and enforcement of financial laws.
The details
The companies reviewed projected timelines and market conditions before deciding that corporate agility should take precedence over the merger. The deal, which would have utilized an Australian scheme of arrangement, was officially suspended following a mutual agreement between the parties.
Timeline
Animoca was delisted from the Australian Securities Exchange in 2020.
The Australian Securities and Investments Commission convicted and fined Animoca in 2022.
The companies first announced the reverse merger plan in November 2025.
Animoca published an audited report for fiscal 2023 in July 2026.
The companies suspended merger discussions in September 2026.
Market Dynamics
The cancellation of this deal highlights the challenges of navigating the Australian scheme of arrangement process for complex corporate restructurings. This move follows a broader trend where companies are prioritizing internal financial health and agility over high-stakes, time-intensive mergers.
Retail and institutional investors following Animoca will need to monitor future disclosures regarding the company's fiscal year 2024 audit results. The termination of the merger means that anticipated changes to equity holdings or combined company structure will not proceed as planned.
The takeaway
This development underscores the importance of aligning merger timelines with rapidly changing market conditions to maintain organizational flexibility. Companies should evaluate whether complex consolidation strategies provide sufficient value compared to maintaining independent corporate roadmaps.
Further reading
Learn more about Corporate Finance developments affecting global markets.
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