Animoca Brands has suspended discussions regarding a proposed reverse merger with Currenc Group Inc., which aimed to facilitate the digital asset firm's listing on Nasdaq. The decision stems from a misalignment in the timelines for completing the merger, as articulated by Animoca in a recent statement.
The discussions initiated late last year were set to position Animoca to acquire a 95% stake in the newly formed entity. Despite halting the merger discussions, Animoca remains committed to pursuing a significant public listing. Co-founder Yat Siu emphasized the company's dedication to exploring optimal paths toward this goal.
Animoca Brands, based in Hong Kong, has a varied portfolio that includes sectors like decentralized finance (DeFi), artificial intelligence, non-fungible tokens (NFTs), and gaming. Additionally, the company's advisory services have increasingly contributed to its revenue over the past few years.
