The Web3 investment firm says its plan to list publicly remains intact even as merger talks with Currenc stall.
Animoca Brands has suspended merger talks with Currenc, a transaction that was expected to serve as the company's route to a public listing. The Block first reported the suspension, and crypto.news followed with additional detail confirming the merger discussions had stalled.
Animoca Brands is one of the most active investors in blockchain gaming, NFTs, and broader Web3 infrastructure. The Hong Kong-based firm has built a large portfolio of stakes in crypto and gaming companies over the past several years. A public listing has long been discussed as a way to give outside investors access to that portfolio and to raise fresh capital.
The merger with Currenc was reportedly one path toward that goal. Merging with an already-listed or listing-track entity like Currenc would have let Animoca bypass a traditional initial public offering process. That route is often used by private companies seeking a faster or less costly way to enter public markets.
According to crypto.news, Animoca has said its intention to become a publicly listed company has not changed, even though the specific deal with Currenc has been paused. That distinction matters. Suspending one merger does not necessarily mean the company has abandoned its broader listing ambitions. It may instead be reassessing structure, timing, or terms before moving forward through a different arrangement.
Details on why the merger talks were suspended have not been fully disclosed in current reporting. Neither outlet specified whether the pause stems from valuation disagreements, regulatory considerations, or other deal-specific factors. It also remains unclear whether talks with Currenc could resume later or whether Animoca will pursue an alternative partner or listing method entirely.
Animoca's push toward public markets has been closely watched across the crypto industry. A successful listing would give traditional investors a regulated way to gain exposure to Web3 assets without holding tokens or private equity stakes directly. It would also serve as a test of investor appetite for crypto-native business models on public exchanges, at a time when digital asset firms more broadly have been exploring listings and mergers as ways to access mainstream capital.
The crypto industry has seen a wave of similar moves in recent periods, with several digital asset companies pursuing mergers with existing public entities rather than standard IPOs. This approach has become more common as firms look for quicker access to public markets amid still-evolving regulatory frameworks for crypto businesses in various jurisdictions.
Market Impact
The suspension of the Currenc merger does not appear to signal an end to Animoca's public listing ambitions, based on the company's stated position. Investors watching the Web3 sector may view this as a temporary delay rather than a reversal of strategy, though the lack of detail on next steps introduces some uncertainty about timing.
A delayed or restructured listing could affect how quickly Animoca can access public capital markets to fund new investments in gaming and blockchain infrastructure. Broader market participants tracking crypto firms' entry into public equity markets will likely watch for updates on whether Animoca pursues a new merger partner or a different listing structure going forward.
Animoca Brands has confirmed it still intends to go public, even as its merger discussions with Currenc have been paused. Further details on the company's next steps toward a listing have not yet been disclosed.
Frequently Asked Questions
What deal did Animoca Brands suspend?
Animoca Brands suspended merger talks with Currenc, a transaction that had been positioned as a path to a public listing.
Does this mean Animoca Brands has abandoned plans to go public?
No. According to crypto.news, Animoca says its intention to pursue a public listing remains unchanged despite the paused merger talks.
Why would a merger have let Animoca go public?
Merging with an entity like Currenc can allow a private company to enter public markets faster than a traditional initial public offering, a route several crypto firms have used.
Is it known why the merger talks were suspended?
Current reporting from The Block and crypto.news has not disclosed the specific reasons behind the suspension.