Core Viewpoint - Currenc Group Inc. has received a notification from Nasdaq regarding non-compliance with listing rules due to the failure to hold an annual meeting of shareholders within the required timeframe [1] Group 1: Compliance and Regulatory Updates - The Company was notified on January 12, 2026, that it is no longer in compliance with Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G) due to not holding an annual meeting within twelve months of the fiscal year end [1] - Currenc has 45 calendar days from January 12, 2026, to submit a plan to regain compliance, with an annual meeting scheduled for February 25, 2026 [2] - If Nasdaq accepts the proposed plan, the Company may receive an extension of up to 180 calendar days to regain compliance, until June 29, 2026 [2] Group 2: Company Overview - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions [3] - The Company provides comprehensive AI solutions, including SEAMLESS AI Call Centre and AI-powered Agents, aimed at reducing costs and increasing efficiency for various financial institutions [3] - Currenc's digital remittance platform facilitates real-time global payment services, enhancing financial access for underserved communities [3]

Core Viewpoint - Currenc Group Inc. has announced the divestment of its 60% controlling interest in Tranglo Sdn. Bhd. to New Margin Holding Limited for a total consideration of US$400 million, marking a significant step in the company's strategic transformation and value-unlocking initiatives [1][3][4]. Group 1: Transaction Details - The divestment involves the sale of 100,465 ordinary shares of Tranglo, representing 60% of its total issued share capital, for an aggregate purchase price of US$400 million, payable in cash [3]. - The payment will be made in two installments: US$200 million on the closing date and the remaining US$200 million within 90 days after closing [3]. Group 2: Strategic Implications - This transaction is part of Currenc's broader strategy to monetize and streamline its existing operating businesses, aiming to enhance shareholder value and strengthen its financial position [3][4]. - The proceeds from the divestment will be used to reduce debt, thereby improving the company's financial flexibility as it advances into AI, Web3, and Digital Assets initiatives [4]. Group 3: Company Background and Future Plans - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through AI solutions, serving various financial institutions [7]. - The divestment of Tranglo is the first executed step in Currenc's multi-step restructuring strategy, which includes a proposed reverse-merger framework with Animoca Brands [4][6].

Core Thesis - Remitly Global, Inc. is positioned as a strong player in the digital remittance space, with a current share price of $13.23 and a trailing P/E ratio of 150.50, indicating high growth expectations [1][3] Company Overview - Remitly operates a global digital remittance platform, allowing users to send money across borders directly to bank accounts, mobile wallets, or for cash pickup, distinguishing itself from competitors like PayPal and Western Union by focusing solely on digital remittances [2] - The company has recently expanded into digital wallets and SMB remittance, enhancing its ecosystem [2] Financial Performance - Remitly has over 8 million active users and is experiencing operating leverage, with revenue growth outpacing cost increases, leading to margin expansion and improved operating income [3] - The company is at a pivotal point, similar to Uber before it became profitable, with the potential to generate several hundred million dollars in free cash flow within a few years, making its current valuation of $3.5 billion attractive [3] Market Dynamics - The long-term growth potential of Remitly is contingent on its ability to sustain high growth and defend its market position against competitors like Wise, Western Union, and PayPal, as well as emerging crypto-based remittance solutions [4] - The addressable market for Remitly is closely linked to global migration patterns, particularly key corridors from the U.S. to the Philippines, India, and Mexico [4] Investment Sentiment - Despite a 38.11% decline in stock price since previous coverage, the bullish thesis remains intact due to Remitly's improving operating leverage and potential for free cash flow inflection [5] - Remitly is not among the 30 most popular stocks among hedge funds, with 39 hedge fund portfolios holding RELY at the end of Q2, down from 46 in the previous quarter [6]

Core Thesis - Remitly Global, Inc. is positioned as a leading digital remittance platform, transitioning from a cash-heavy model to a high-retention, annuity-like business, with strong revenue growth and customer retention metrics [2][5]. Financial Performance - As of Q2 2025, Remitly is experiencing a revenue growth rate of 34% year-to-date and is projected to achieve over 25% free cash flow margins, trading at less than 8 times estimated 2027 unlevered free cash flow [2]. - The company's stock was trading at $19.68 as of September 4th, with a trailing P/E ratio of 324.33 [1]. Competitive Advantage - Remitly's competitive edge stems from its effective marketing strategies, efficient customer acquisition, and product-led retention, offering a superior user experience compared to traditional cash-based networks like Western Union and MoneyGram [3]. - The company demonstrates increasing returns to marketing scale while maintaining a gross profit payback period of less than 12 months on customer acquisition [3]. Market Dynamics - The adoption of stablecoins poses a minor threat to consumers, as their usage is still in the early stages, and regulatory challenges are likely to hinder mainstream adoption [4]. - Recent immigration policy shifts are favorable for digital remittance flows, penalizing cash transfers while promoting app-based remittances [4]. Long-term Outlook - With ongoing product innovation and a strong foundation of customer trust and retention, Remitly is well-positioned for high-margin free cash flow generation, making it an attractive investment opportunity in the digital remittance market [5][6].