SINGAPORE, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Currenc Group Inc. (Nasdaq: CURR) (“Currenc” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced an agreement to issue and sell up to $33.0 million of the Company’s unsecured convertible promissory notes due October 8, 2027 (the “Notes”). After deducting related costs and expenses, the Company would receive $30.0 million in new funding if the financing is fully funded. An in ...

Core Viewpoint - Currenc Group Inc. has announced a leadership change with Alex Kong returning as CEO, succeeding Dr. Ronnie Hui, who has stepped down. This transition is expected to support the company's growth in AI solutions for financial institutions [1][2]. Company Overview - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI). The company provides comprehensive AI solutions to financial institutions, including the SEAMLESS AI Call Centre and other AI-powered agents aimed at reducing costs and enhancing customer satisfaction [3]. - The company's digital remittance platform facilitates real-time, 24/7 global payment services, promoting financial access in underserved communities [3]. Leadership Transition - Alex Kong, the founder and Executive Chairman, will take over as CEO, ensuring a seamless transition. His previous experience and expertise are expected to accelerate Currenc's growth initiatives and strengthen its position in the AI-driven financial solutions market [2]. - The board expressed gratitude for Dr. Ronnie Hui's leadership, highlighting his role in guiding the company through significant market challenges and laying a strong foundation for future growth [2].

Core Viewpoint - Currenc Group Inc. has entered into a $54.6 million Shares-for-Debt Transaction to eliminate outstanding related party loans, aligning the interests of its Chairman with those of shareholders [1][2][3]. Group 1: Transaction Details - The Company will issue 35,653,995 ordinary shares at a price of $1.53 per share to settle approximately $54,550,612.30 in loans owed to Mr. Alex Kong and Regal Planet Limited [2]. - This transaction will completely remove the debt from the Company's balance sheet, which originated from various loan agreements [2]. Group 2: Strategic Implications - Mr. Kong emphasized that this transaction strengthens the capital structure and reflects his confidence in Currenc's long-term growth prospects [3]. - By converting loans into equity, Mr. Kong is reinforcing his commitment to the Company's mission of empowering financial institutions with AI-driven solutions [3]. Group 3: Company Overview - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through AI, offering solutions that enhance efficiency and customer satisfaction for various financial institutions [4]. - The Company's digital remittance platform facilitates real-time global payment services, improving financial access for underserved communities [4].

Core Viewpoint - Currenc Group Inc. has completed a $54.6 million Shares-for-Debt Transaction, significantly strengthening its capital structure and demonstrating confidence in its long-term growth prospects [1][2][3]. Financial Transaction Details - The Company issued 35,653,995 ordinary shares to settle outstanding related party loans totaling approximately $54,550,612.30, effectively eliminating this debt from its balance sheet [2]. - The transaction aligns the interests of the Chairman, Mr. Alex Kong, with those of all shareholders, reinforcing a unified vision for the Company's future [2][3]. Company Overview - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through AI solutions, including AI Call Centres and other agents aimed at enhancing efficiency and customer satisfaction for various financial institutions [4]. - The Company also offers a digital remittance platform that facilitates real-time global payment services, promoting financial access in underserved communities [4].

Core Insights - Currenc Group Inc. reported its financial results for Q2 2025, highlighting a year-over-year decline in total revenue but an increase in remittance revenue, driven by growth in Total Processing Value (TPV) and improved take rates [1][4][12]. Financial Performance - Total revenue excluding TNG Asia and GEA for Q2 2025 was US$8.7 million, a decrease of 10.3% from US$9.7 million in Q2 2024 [4]. - Remittance revenue, excluding TNG Asia and GEA, was US$5.2 million, reflecting an increase of 8.3% year-over-year [5]. - Global airtime revenue decreased to US$2.0 million, down 16.7% from US$2.4 million in the previous year [5]. - Indonesian airtime revenue saw a significant decline of 39.6%, dropping from US$2.5 million to US$1.5 million [4]. Operational Metrics - Total Processing Value (TPV) through Tranglo reached US$1.46 billion, marking a 6.9% increase year-over-year [4]. - The total number of transactions increased to 3.1 million in Q2 2025, up from 2.9 million in Q2 2024 [4]. - The overall take rate improved to 0.36% in Q2 2025 from 0.35% in the same period of 2024 [5]. Cost Management - Total direct costs of revenue decreased by 24.1% year-over-year to US$5.5 million [5]. - Operating expenses rose to US$7.6 million, primarily due to a one-time incentive share expense of US$2.2 million related to the de-SPAC merger and US$1.0 million for AI initiatives [5][12]. EBITDA Analysis - The total EBITDA for Q2 2025 was a loss of US$3.4 million, with Tranglo and WalletKu together delivering positive EBITDA of US$0.53 million [10]. - The net loss for the quarter was US$5.0 million, driven by headquarters losses and adjustments [9][10]. Strategic Focus - The company plans to deemphasize lower-margin airtime services and reallocate resources to expand its AI product offerings [5][12]. - Management aims to pair consistent remittance execution with an expanding AI portfolio to create a healthier revenue mix and sustainable long-term value for shareholders [12].

Core Viewpoint - Currenc Group Inc. is taking proactive measures to investigate potential naked short selling of its shares to protect shareholder value while executing its growth strategy globally [1][2][3] Company Overview - Currenc Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions [4] - The company provides comprehensive AI solutions to financial institutions, including a digital remittance platform that enables real-time global payment services [4] Strategic Initiatives - The company has retained Shareholder Intelligence Services, LLC to assist in monitoring and investigating trading irregularities [1][2] - Currenc aims to enhance shareholder communication, regulatory compliance, and trading surveillance capabilities through ShareIntel's patented DRIL-Down™ process [2] Management's Commitment - The founder and executive chairman, Alex Kong, emphasized the company's commitment to protecting investors and maximizing shareholder value amid observed irregular trading patterns [3] - Currenc intends to pursue regulatory and legal recourse if necessary to address any illegal trading or market manipulation [2][3]

Core Viewpoint - Currenc Group Inc. reported a decline in financial performance for the first quarter of 2025, with total revenue decreasing by 11.5% year-over-year, primarily due to a significant drop in global airtime revenue and remittance revenue from the Hong Kong market. The company is focusing on AI initiatives and reallocating resources to enhance higher-margin growth opportunities [1][5][12]. Financial Performance Summary - Total revenue for Q1 2025 was $10.0 million, down from $11.34 million in Q1 2024, reflecting an 11.5% decrease [3][5]. - Remittance revenue, excluding TNG Asia and GEA, was $4.6 million, an 8% decline year-over-year [6]. - Global airtime revenue fell to $2.0 million, representing a 23.1% decrease compared to the previous year [6]. - Total processing value (TPV) through Tranglo was $1.30 billion, a decrease of 3.7% year-over-year [5]. - Operating expenses increased to $7.5 million from $5.8 million in Q1 2024, largely due to a one-time share-based incentive expense of $2.2 million [6][10]. Operational Insights - The decline in TPV and revenues was attributed to reduced business volume from the Hong Kong market and increased competition in the digital remittance space [5][12]. - The company’s gross profit margin ratio for Q1 2025 was 31.8%, down from 33.6% in Q1 2024 [6]. - The overall net loss for Q1 2025 was $4.5 million, primarily driven by losses from headquarters and adjustments [11][20]. Strategic Focus - Management emphasized the importance of scaling AI product offerings and expanding remittance services into major corridors to drive higher-margin growth [12]. - The company plans to deemphasize airtime transfer services and redirect resources towards AI initiatives [6][12]. - Currenc aims to maintain a healthy take rate for Tranglo while navigating a competitive environment [12]. EBITDA Analysis - The total EBITDA for Q1 2025 was a loss of $2.8 million, with Tranglo and WalletKu achieving a combined EBITDA of $1.2 million [10][25]. - The EBITDA loss was influenced by increased operating expenses and the impact of the de-SPAC merger [10][12]. Market Position - Currenc Group Inc. is positioned as a fintech pioneer, focusing on AI solutions to enhance financial services globally [15]. - The company’s digital remittance platform aims to improve financial access across underserved communities [15].

Core Insights - CURRENC Group Inc. has appointed Mr. Wan Lung Eng as Chief Financial Officer, effective April 16, 2025, to enhance its financial strategy and growth initiatives [1][2][3] Company Overview - CURRENC Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions, empowering financial institutions worldwide [4] - The company offers comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered agents, aimed at reducing costs, increasing efficiency, and boosting customer satisfaction for various sectors [4] Leadership and Expertise - Mr. Eng brings over 20 years of experience in finance, accounting, investment banking, and private equity, having executed public and private financings and M&A transactions exceeding US$50 billion [2] - His previous roles include CFO positions at VitalCheck Wellness, Teclison, and Spectral MD, as well as senior positions at major financial institutions [2] - The leadership team believes Mr. Eng's expertise will be pivotal in accelerating CURRENC's growth and advancing its AI initiatives [3]

Core Viewpoint - CURRENC Group Inc. has regained compliance with Nasdaq's minimum market value requirement, ensuring its continued listing on the Nasdaq Global Market [1][2]. Company Overview - CURRENC Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions [2]. - The company provides comprehensive AI solutions to financial institutions, including SEAMLESS AI Call Centre and other AI-powered agents aimed at reducing costs and enhancing customer satisfaction [2]. - CURRENC's digital remittance platform facilitates real-time global payment services, promoting financial access for underserved communities [2]. Compliance Achievement - On April 9, 2025, CURRENC received confirmation from Nasdaq that its ordinary shares maintained a minimum market value of publicly held shares of $5,000,000 for at least ten consecutive business days, thus satisfying the listing requirement [1]. - The company expressed satisfaction with this compliance, highlighting its importance for credibility and exposure in capital markets [2].

SINGAPORE, April 10, 2025 (GLOBE NEWSWIRE) -- CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced that on April 9, 2025, it received written notice from Nasdaq stating that the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) has determined that for at least the last ten consecutive business days, the Company’s ordinary shares have maintained a minimum ...