Currenc Group Restructures Indonesian Subsidiary

Dow Jones06-25 05:39

Currenc Group is restructuring WalletKu, its Indonesian digital payments subsidiary, as part of a plan to focus on its artificial intelligence and Web3 businesses.

The financial-technology company said Wednesday it has temporarily paused active transactional operations for the subsidiary's legacy airtime distribution business, citing headwinds in cross-border airtime remittance across Southeast Asia. The company pointed in particular to the rise of free Wi-Fi, which it said has hurt demand for Malaysia-Indonesia airtime transfer services.

With the operational pause, the company plans to streamline WalletKu's balance sheet, resolve all outstanding third-party commitments and cut staff. The company said it has allocated up to $150,000 to be deployed through September to settle WalletKu's employee severance liabilities and outstanding third-party debts.

Currenc said it plans to conduct a strategic review of potential pathways for WalletKu after all outstanding financial commitments are resolved.

The restructuring is part of Currenc's multi-year shift away from legacy airtime distribution toward its AI and Web3 fintech platforms, Currenc's Chief Executive Alex Kong said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 24, 2026 17:39 ET (21:39 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2646849703?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-25 05:39","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2646849703","market":"nz","top_or_hot":-1,"title":"Currenc Group Restructures Indonesian Subsidiary","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Currenc Group is restructuring WalletKu, its Indonesian digital payments subsidiary, as part of a plan to focus on its artificial intelligence and Web3 businesses. \n</p>\n<p>\n  The financial-technology company said Wednesday it has temporarily paused active transactional operations for the subsidiary's legacy airtime distribution business, citing headwinds in cross-border airtime remittance across Southeast Asia. The company pointed in particular to the rise of free Wi-Fi, which it said has hurt demand for Malaysia-Indonesia airtime transfer services. \n</p>\n<p>\n  With the operational pause, the company plans to streamline WalletKu's balance sheet, resolve all outstanding third-party commitments and cut staff. The company said it has allocated up to $150,000 to be deployed through September to settle WalletKu's employee severance liabilities and outstanding third-party debts. \n</p>\n<p>\n  Currenc said it plans to conduct a strategic review of potential pathways for WalletKu after all outstanding financial commitments are resolved. \n</p>\n<p>\n  The restructuring is part of Currenc's multi-year shift away from legacy airtime distribution toward its AI and Web3 fintech platforms, Currenc's Chief Executive Alex Kong said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 24, 2026 17:39 ET (21:39 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Currenc Group Restructures Indonesian Subsidiary</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCurrenc Group Restructures Indonesian Subsidiary\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-25 05:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Currenc Group is restructuring WalletKu, its Indonesian digital payments subsidiary, as part of a plan to focus on its artificial intelligence and Web3 businesses. \n</p>\n<p>\n  The financial-technology company said Wednesday it has temporarily paused active transactional operations for the subsidiary's legacy airtime distribution business, citing headwinds in cross-border airtime remittance across Southeast Asia. The company pointed in particular to the rise of free Wi-Fi, which it said has hurt demand for Malaysia-Indonesia airtime transfer services. \n</p>\n<p>\n  With the operational pause, the company plans to streamline WalletKu's balance sheet, resolve all outstanding third-party commitments and cut staff. The company said it has allocated up to $150,000 to be deployed through September to settle WalletKu's employee severance liabilities and outstanding third-party debts. \n</p>\n<p>\n  Currenc said it plans to conduct a strategic review of potential pathways for WalletKu after all outstanding financial commitments are resolved. \n</p>\n<p>\n  The restructuring is part of Currenc's multi-year shift away from legacy airtime distribution toward its AI and Web3 fintech platforms, Currenc's Chief Executive Alex Kong said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 24, 2026 17:39 ET (21:39 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4227","symbol_name":"交易和支付处理服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2646849703","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2646849703","pubTimestamp":1782337140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Currenc Group is restructuring WalletKu, its Indonesian digital payments subsidiary, as part of a plan to focus on its artificial intelligence and Web3 businesses.The financial-technology company said Wednesday it has temporarily paused active transactional operations for the subsidiary's legacy airtime distribution business, citing headwinds in cross-border airtime remittance across Southeast Asia. The company pointed in particular to the rise of free Wi-Fi, which it said has hurt demand for Malaysia-Indonesia airtime transfer services.With the operational pause, the company plans to streamline WalletKu's balance sheet, resolve all outstanding third-party commitments and cut staff. The company said it has allocated up to $150,000 to be deployed through September to settle WalletKu's employee severance liabilities and outstanding third-party debts.Currenc said it plans to conduct a strategic review of potential pathways for WalletKu after all outstanding financial commitments are resol","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4227":"交易和支付处理服务","BK4007":"制药","CURR":"CURRENC Group Inc"},"translate_title":"Currenc集团重组印尼子公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CURR":0.9},"content_text":"Currenc Group is restructuring WalletKu, its Indonesian digital payments subsidiary, as part of a plan to focus on its artificial intelligence and Web3 businesses. \n\n\n  The financial-technology company said Wednesday it has temporarily paused active transactional operations for the subsidiary's legacy airtime distribution business, citing headwinds in cross-border airtime remittance across Southeast Asia. The company pointed in particular to the rise of free Wi-Fi, which it said has hurt demand for Malaysia-Indonesia airtime transfer services. \n\n\n  With the operational pause, the company plans to streamline WalletKu's balance sheet, resolve all outstanding third-party commitments and cut staff. The company said it has allocated up to $150,000 to be deployed through September to settle WalletKu's employee severance liabilities and outstanding third-party debts. \n\n\n  Currenc said it plans to conduct a strategic review of potential pathways for WalletKu after all outstanding financial commitments are resolved. \n\n\n  The restructuring is part of Currenc's multi-year shift away from legacy airtime distribution toward its AI and Web3 fintech platforms, Currenc's Chief Executive Alex Kong said. \n\n\n \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 24, 2026 17:39 ET (21:39 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2646849703","isCrawlerRequest":true}