Animoca Brands suspended discussions for a proposed reverse merger with Currenc Group Inc. (CURR), which would have seen the digital asset investment company secure a Nasdaq listing.
The two companies decided the proposed timeframe to finalize the transaction didn’t align with their respective goals, Animoca announced on Tuesday.
Talks between Animoca and Currenc kicked off late last year, with plans for the former to own 95% of the merged company.
Hong Kong-based Animoca said it “remains fully committed” to listing on a major public exchange, with co-founder Yat Siu adding it will “continue to pursue optimal routes” to a public listing.
Animoca Brands’ portfolio spans decentralized finance (DeFi), AI, non-fungible tokens (NFTs) and gaming, with advisory services forming an increasing chunk of its revenue stream in recent years.
Currenc shares closed at $3.23 on Monday, 1.25% higher on the day, before dropping 0.93% in after-hours trading.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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