Core Insights - CURRENC Group Inc. is launching an AI-focused investment fund in collaboration with ARC Group, aiming to raise up to $100 million for investments in AI data centers, green energy, and computing power development [1][2] - The fund will allocate approximately 80% of its capital to global investments in AI computing power and green energy infrastructure, including a planned 500MW hyperscale AI data center in Malaysia [2] - The remaining 20% will target emerging enterprises in AI ecosystems, fintech, and AI-driven solutions, supported by a team of technology and finance experts [3] Company Overview - CURRENC Group Inc. is a fintech pioneer that provides AI solutions to financial institutions globally, enhancing efficiency and customer satisfaction through various AI-powered tools [5] - The company also offers a digital remittance platform that facilitates real-time global payment services, improving financial access for underserved communities [5] Partner Overview - ARC Group is a global investment bank and management consultancy that specializes in bridging Asian and Western markets, offering a wide range of financial solutions including IPOs, M&A, and venture capital [6] - The firm is headquartered in Hong Kong and has a presence in multiple countries, positioning it well for cross-border financial services [6]

Core Insights - CURRENC Group Inc. has partnered with ARC Group to establish a new investment fund focused on AI, aiming to raise up to $100 million for investments in AI data centers, green energy, and computing infrastructure [1][2] - The fund will be managed by a team of experienced technology and finance experts, with a strategic focus on creating a sustainable ecosystem that encompasses AI data centers, green energy, fintech, and AI-driven solutions [2] Company Overview - CURRENC Group Inc. is a fintech pioneer that leverages AI solutions to empower financial institutions globally, providing a range of AI tools aimed at enhancing efficiency and customer satisfaction across various sectors [1][2] - The company operates a digital remittance platform that supports real-time global payment services, promoting financial inclusion in underdeveloped communities [2] ARC Group Overview - ARC Group is a global investment bank and management consulting firm that specializes in bridging Asian and Western markets, offering comprehensive financial solutions including IPOs, mergers and acquisitions, and venture capital [3] - The firm has a strong international presence with offices in multiple countries, enabling it to provide exceptional cross-border financial and consulting services [3] Fund Investment Focus - Approximately 80% of the fund's capital will be allocated to AI computing facilities and green energy infrastructure projects, including a planned 500 MW AI data center in Malaysia [4] - The remaining 20% will target startups and emerging companies within the AI ecosystem, fintech, and AI-driven solutions [4]

Core Insights - CURRENC Group Inc. plans to acquire 100 acres of land in Johor, Malaysia, to develop a hyperscale Artificial Intelligence Data Center (AIDC) with a total planned capacity of 500MW [1][2] - The first phase of the AIDC, targeting 100MW, is expected to be operational by the end of 2026, providing co-location and wholesale leasing solutions to various data center users [2][3] - The AIDC is part of CURRENC's strategy to enhance the adoption of AI technology among financial institutions, aiming to lower entry barriers and support digital transformation in Southeast Asia [4] Company Overview - CURRENC Group Inc. is a fintech pioneer focused on transforming global financial services through AI solutions, including tools for banks, insurance, and telecommunications [5] - The company offers a digital remittance platform that facilitates real-time global payment services, enhancing financial access for underserved communities [5] Strategic Importance - Johor is emerging as a key data center hub in the Asia-Pacific region, benefiting from excellent international data connectivity, reliable power infrastructure, and favorable tax incentives [4] - The establishment of the AIDC is expected to position CURRENC as a leader in providing AI infrastructure, catering to the growing demand for AI technology in the financial sector [4]

助力全球金融机构AI技术创新，打造数字化转型新基石新加坡, March 18, 2025 (GLOBE NEWSWIRE) -- CURRENC Group Inc. （纳斯达克代码：CURR）（以下简称“CURRENC”或“公司”），一家通过人工智能（以下简称“AI”）解决方案在全球范围赋能金融机构的金融科技先驱企业，今日宣布公司计划在马来西亚柔佛州收购一块占地约100英亩的土地，用于建设超大规模人工智能数据中心（AIDC）。 CURRENC此次项目计划建设总容量达500兆瓦的超大规模AI数据中心园区，预计分阶段实施。其中第一阶段建设规模为100兆瓦，目标于2026年年底建成并投入运营。园区建成后，将为超大规模客户、企业客户及其他类型的数据中心用户提供主机托管和批发租赁等多种灵活服务，确保园区拥有广泛稳定的客户基础。项目全面建成后，有望成为东南亚规模最大的人工智能数据中心之一，并成为CURRENC集团推动全球金融机构加速应用AI技术战略布局的重要基石。 目前，公司已与若干潜在核心客户展开洽谈，每个阶段的建设都将以提前获得长租客户承诺为前提，以确保数据中心容量的高效使用和稳定收入。 “这项投资标志着CURRE ...

Group 1 - CURRENC Group Inc. is participating in the 37th Annual Roth Conference from March 16-18, 2025, in Dana Point, California, with its Founder and Executive Chairman, Alex Kong, attending [1][2] - The conference focuses on small-cap companies and includes one-on-one meetings, analyst-led discussions, and industry keynotes, providing insights into emerging growth companies [2][3] - Alex Kong will engage in one-on-one meetings and participate in an AI panel discussion titled "AI - Life After DeepSeek: AI CEO's Speak" on March 18th at 8 AM PT [3][4] Group 2 - CURRENC Group Inc. is a fintech pioneer that offers AI solutions to financial institutions globally, aiming to enhance efficiency and customer satisfaction [4] - The company's offerings include the SEAMLESS AI Call Centre and a digital remittance platform that supports real-time global payment services, particularly benefiting underserved communities [4]

Core Insights - CURRENC Group Inc. has launched SEAMLESS AI Call Centre Solutions, a suite of AI-powered tools aimed at enhancing efficiency, reducing costs, and improving customer satisfaction for various financial institutions [1][4] - The SEAMLESS AI suite includes three software products: Text AI for real-time Q&As, Voice AI for hands-free interaction, and Avatar AI for human-like query resolution, all available in over 10 languages [2][4] - CURRENC plans to invest in AI-focused hardware infrastructure, including AI Data Centre and AI-as-a-Service, to provide tailored solutions to financial institutions globally [3][4] Company Overview - CURRENC Group Inc. is a fintech and digital remittance pioneer, serving millions of unbanked and underbanked individuals, particularly in Southeast Asia [5] - The company processed approximately 11 million remittance transactions totaling US$4.54 billion in 2023, marking a 28% increase in transaction value compared to 2022 [4] - CURRENC has over one million unique users and more than 5,000 bank partners, with operations spanning 150 countries [4]

Financial Performance - Total Processing Value (TPV) for Q3 2024 was $1.21 billion, up 6.1% YoY, and $3.92 billion for the first nine months of 2024, up 18.8% YoY[3] - Total revenues for Q3 2024 were $11.3 million, down 11.0% YoY, and $35.4 million for the first nine months of 2024, down 11.3% YoY, primarily due to declines in global airtime revenue and remittance revenues from divested subsidiaries[4] - Revenue for the three months ended September 30, 2024, was $11.26 million, a decrease of 11.6% compared to $12.74 million in the same period in 2023[19] - Net loss for Q3 2024 was $5.0 million, up 31.6% YoY, and $11.3 million for the first nine months of 2024, up 8.7% YoY[7] - Net loss for the three months ended September 30, 2024, was $5.02 million, compared to a net loss of $3.82 million in the same period in 2023[19] - Total comprehensive loss attributable to CURRENC Group Inc. for Q3 2024 was $5.1 million, up 34.2% YoY, and $12.1 million for the first nine months of 2024, up 15.2% YoY[8] - Total comprehensive loss for the nine months ended September 30, 2024, was $11.45 million, compared to $10.06 million in the same period in 2023[19] - Net loss per share for the three months ended September 30, 2024, was $0.13, compared to $0.11 in the same period in 2023[19] - Net loss for 2024 was $11.26 million, compared to $10.45 million in 2023[22] EBITDA and Operating Expenses - Adjusted EBITDA loss for Q3 2024 was $0.2 million, narrowing by 83.3% YoY, and $0.6 million for the first nine months of 2024, narrowing by 75.0% YoY[7] - Tranglo maintained a positive EBITDA of $48,000 for the third quarter of 2024[25] - Group EBITDA for the third quarter of 2024 was -$191,000, compared to -$1,197,000 in 2023[25][27] - Tranglo and WalletKu combined EBITDA for the first nine months of 2024 was $1.74 million[30] - Group EBITDA for the first nine months of 2024 was -$616,000, compared to -$2.45 million in 2023[30] - Operating expenses for Q3 2024 were $19.1 million, up from $6.5 million YoY, and $30.0 million for the first nine months of 2024, up from $18.8 million YoY, driven by non-recurring costs related to the merger with INFINT SPAC[10][11] - General and administrative expenses for the three months ended September 30, 2024, were $19.06 million, compared to $6.45 million in the same period in 2023[19] Revenue Breakdown - Tranglo's remittance revenues for Q3 2024 were $4.5 million, down 1.0% YoY, and $14.3 million for the first nine months of 2024, remaining stable YoY[6] - Tranglo's global airtime transfer revenues for Q3 2024 were $2.3 million, down 22.1% YoY, and $7.3 million for the first nine months of 2024, down 22.3% YoY[6] - WalletKu's Indonesian airtime revenues for Q3 2024 were $4.0 million, up from $3.4 million YoY, and $10.2 million for the first nine months of 2024, down from $10.5 million YoY[10] Cash Flow and Financial Position - Cash and cash equivalents as of September 30, 2024, were $49.06 million, slightly higher than $48.52 million as of December 31, 2023[21] - Total current assets decreased to $82.53 million as of September 30, 2024, from $103.36 million as of December 31, 2023[21] - Total liabilities decreased to $137.70 million as of September 30, 2024, from $177.68 million as of December 31, 2023[21] - Total shareholders' deficit attributable to CURRENC Group Inc. improved to $46.95 million as of September 30, 2024, from $62.76 million as of December 31, 2023[21] - Net cash used in operating activities for 2024 was $11.67 million, compared to $10.84 million in 2023[22] - Net cash generated from financing activities in 2024 was $2.18 million, compared to -$148,066 in 2023[22] Other Income and Expenses - Other income for the three months ended September 30, 2024, was $15.01 million, significantly higher than $241,300 in the same period in 2023[19] - Non-cash expense for share-based compensation in 2024 was $13.14 million[22] - Disposal of subsidiaries resulted in a goodwill impairment of $21.74 million in 2024[22] Divestitures - TNG Asia and GEA were divested in August 2024 and July 2024, respectively[27][30]

Core Viewpoint - CURRENC Group Inc. reported its unaudited financial results for Q3 2024, highlighting a mixed performance with growth in processing value but declines in total revenues and net loss [1][2]. Financial Highlights - Total Processing Value (TPV) reached US$1.21 billion for Q3 2024, up 6.1% year-over-year, and US$3.92 billion for the first nine months, increasing by 18.8% [2][3]. - Total revenues for Q3 2024 were US$11.3 million, a decrease of 11.0% year-over-year, and US$35.4 million for the first nine months, down 11.3% [2][3]. - Total remittance revenues were US$4.9 million for Q3 2024, down 22.2% year-over-year, and US$17.8 million for the first nine months, decreasing by 10.6% [2][3]. - Adjusted EBITDA loss for Q3 2024 was US$0.2 million, narrowing by 83.3% year-over-year, while the loss for the first nine months was US$0.6 million, a 75.0% improvement [2][3]. - Net loss for Q3 2024 was US$5.0 million, increasing by 31.6% year-over-year, and US$11.3 million for the first nine months, up 8.7% [2][3]. Core Business Performance - Tranglo's remittance revenues were US$4.5 million for Q3 2024, down 1.0% year-over-year, and US$14.3 million for the first nine months, remaining stable [2][3]. - CURRENC's global airtime transfer revenues were US$2.3 million for Q3 2024, down 22.1% year-over-year, and US$7.3 million for the first nine months, decreasing by 22.3% [2][3]. - Operating expenses increased significantly to US$19.14 million for Q3 2024, compared to US$6.5 million in the same period last year [3][4]. Management Insights - The management expressed confidence in the company's strategic achievements and operational excellence, emphasizing the focus on Tranglo as the primary growth driver following the divestment of TNG Asia and GEA [5]. - The company aims to optimize cost structures and enhance profitability while leveraging its core remittance business [5].

Transaction Volume and Value - As of September 30, 2024, Tranglo processed approximately 8.56 million transactions with a total processing value of $3.92 billion, representing a 5.5% increase in volume and an 18.8% increase in value compared to the same period in 2023[188]. - For the nine-month period ended September 30, 2024, Tranglo processed 8.56 million remittance transactions with a total value of $3.92 billion, compared to 8.11 million transactions valued at $3.3 billion in the same period of 2023, reflecting a transaction increase of 5.5% and a value increase of 18.8%[237]. - Currenc processed 2.71 million remittance transactions valued at $1.21 billion for the three-month period ended September 30, 2024, compared to 2.72 million transactions valued at $1.14 billion for the same period in 2023[220]. User Growth - The number of unique users for Tranglo increased to 1,024,100 as of September 30, 2024, up from 866,800 a year earlier, while average monthly unique sending accounts rose to 358,900 from 326,500[189]. - The number of unique users increased to 1,024,100 as of September 30, 2024, from 866,800 as of September 30, 2023, representing an increase of 18.1%[238]. - The number of average monthly unique sending accounts increased from 326,500 for the nine-month period ended September 30, 2023, to 358,900 for the same period in 2024, reflecting an increase of 9.9%[238]. Revenue Performance - For the three-month period ended September 30, 2024, Currenc's revenue decreased by 11.0% to $11.3 million compared to $12.7 million for the same period in 2023, primarily due to a 22.1% decline in global airtime revenue[219]. - For the nine-month period ended September 30, 2024, Currenc's revenue decreased by 11.3% to $35.4 million compared to $39.9 million for the same period in 2023, driven by a 22.3% decline in global airtime revenue[236]. - Currenc's global airtime revenue for the nine-month period ended September 30, 2024, declined by 22.3% to $7.3 million compared to $9.4 million for the same period in 2023[239]. Operating Expenses and Losses - Currenc's operating expenses increased sharply from $6.5 million for the three-month period ended September 30, 2023, to $19.1 million for the same period in 2024, largely due to a $13.1 million expense related to incentive shares granted to employees[227]. - Operating expenses for Currenc increased sharply to $30.0 million for the nine-month period ended September 30, 2024, from $18.8 million in the same period of 2023, primarily due to $13.1 million in incentive shares granted to employees[246]. - Currenc's net loss for the three-month period ended September 30, 2024, was $5.0 million, compared to a net loss of $3.8 million for the same period in 2023[218]. - For the nine-month period ended September 30, 2024, Currenc recorded a net loss of $11.261 million, compared to a net loss of $10.447 million for the same period in 2023[262]. Cash and Capital Management - As of September 30, 2024, Currenc had cash balances of $49.1 million, a working capital deficit of $54.1 million, and a net capital deficit of $22.7 million[270]. - The company believes its current cash and cash equivalents will be sufficient to meet anticipated cash needs for at least the next 12 months[273]. - Net cash provided by financing activities amounted to $2.2 million in the nine-month period ended September 30, 2024, primarily from the issuance of convertible bonds[280]. Business Strategy and Market Development - The company aims to develop B2C markets in Southeast Asia and the Middle East to capture retail remittance and airtime markets, which could generate significant clientele and synergy for its businesses[206]. - The company continues to drive adoption of its platform for money transfer and payment processing services, aiming to introduce new B2C financial services in Southeast Asia and the Middle East[207]. - Currenc's ability to maintain and build its partner network is crucial for its business scope and scale, impacting its operational results[213]. Revenue Recognition and Accounting Policies - The Company generates revenue through Fiat Currency Prefunded Remittance Fees, which are fixed and specific for each country's currency, charged at the time of transaction[298]. - The XRP Prefunded Remittance Service allows customers to obtain prefunding through Ripple's solution, with the Company charging an XRP Prefunded Remittance Service Fee upon transfer[299]. - Revenue from airtime sales is recognized when the international airtime transfer or reload request is processed[303]. - The Company performs annual goodwill impairment tests, with no impairment recorded for the periods ended September 30, 2024, and December 31, 2023[306]. Other Financial Metrics - The direct costs for remittance revenue decreased by 18.5% to $2.2 million for the three-month period ended September 30, 2024, from $2.7 million for the same period in 2023[225]. - The direct costs for remittance revenue decreased by 9.4% to $7.7 million for the nine-month period ended September 30, 2024, despite an 18.8% increase in total payment volume (TPV)[244]. - EBITDA for the nine-month period ended September 30, 2024, was a loss of $616,000, an improvement from a loss of $2.449 million in the same period of 2023[257].

Financial Performance - For the three months ended June 30, 2024, the company reported a net income of $174,050, with operating costs of $537,075 and interest earned of $711,125 from marketable securities held in the Trust Account [123]. - For the six months ended June 30, 2024, the company had a net income of $764,153, consisting of operating costs of $896,072 and interest earned of $1,660,225 from marketable securities [123]. Marketable Securities - As of June 30, 2024, the company held marketable securities in the Trust Account amounting to $55,457,522, primarily in a money market fund and government bonds [130]. - The company plans to use funds held in the Trust Account primarily for acquiring a target business and covering related expenses [130]. - The Company does not expect to generate operating revenues until after the completion of its Business Combination, relying on non-operating income from interest on marketable securities [138]. Initial Public Offering - The company generated gross proceeds of $173,912,000 from its Initial Public Offering of 17,391,200 Units, with each Unit sold at an offering price of $10.00 [125]. Working Capital and Cash Position - The company had a working capital deficit of $5,412,119 as of June 30, 2024, with only $8,780 in cash available in its operating account [131]. - The Company has $8,780 in cash, which may not be sufficient to sustain operations for at least the next 12 months [137]. Business Combination and Compliance - The company has until November 23, 2024, to consummate its initial business combination following the approval of the Third Extension Proposal [118]. - The company received a notification from NYSE regarding non-compliance with the minimum public shareholders requirement, and submitted a business plan to return to compliance [121]. - The company redeemed approximately $30.26 million worth of Class A ordinary shares at a redemption price of approximately $11.36 per share during the approval of the Third Extension Proposal [118]. - The Company is obligated to pay a deferred underwriting commission of $5,999,964 upon consummation of its initial Business Combination [141]. Expenses and Financial Obligations - The company incurred expenses related to being a public entity, including legal, financial reporting, and due diligence costs [122]. - The Company issued an unsecured promissory note (the "Amended Note") for up to $400,000, replacing the previous note, with $325,000 outstanding as of June 30, 2024 [134]. - An additional $560,000 was deposited into the Trust Account as of June 30, 2024, with total contributions reaching $640,000 by August 1, 2024 [136]. - The Company incurs a monthly fee of $10,000 to its Sponsor for office space and administrative support, starting from November 23, 2021 [140]. - Management believes that significant costs will continue to be incurred in pursuit of the Business Combination [137]. - The Company has no long-term debt or capital lease obligations other than the monthly fee to the Sponsor [140]. Accounting Standards - Management does not anticipate that recently issued accounting standards will materially affect the financial statements [143].