Currenc Group Suspends Loss-Making Indonesian Payments Unit, Prioritizes AI & Web3
Summary
Currenc Group is suspending the operations of its Indonesian digital payments subsidiary, WalletKu, which reported a $0.45 million net loss on $7.7 million revenue in FY2025. This strategic restructuring, also detailed in a 6-K filing today, aims to eliminate a drag on consolidated profitability. The company will redirect capital and operational focus towards its higher-margin AI and Web3 initiatives, aligning with its stated growth strategy and recent appointments like Kelly Leung. Currenc Group will allocate up to $150,000 to settle WalletKu's employee severance and outstanding debts. A future reactivation of WalletKu will be contingent on resolving all legacy obligations and integrating with Currenc's AI ecosystem.
At the time of this announcement, CURR was trading at $2.84 on NASDAQ in the Finance sector, with a market capitalization of approximately $315.5M. The 52-week trading range was $0.52 to $4.73. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.