RestructuringJun 24, 2026, 04:37 PM
Currenc Group Suspends WalletKu Operations, Refocuses on AI/Web3
AI Summary
Currenc Group Inc. announced the immediate suspension of active business operations for its Indonesian subsidiary, PT Walletku Indompet Indonesia (WalletKu), due to an ongoing lack of working capital and the permanent forfeiture of its commercial status as an Authorized Indosat Distributor. The company will terminate WalletKu's workforce and settle outstanding debts, allocating up to US$150,000 for these purposes. This strategic restructuring aims to eliminate drag on consolidated group profitability and refocus capital and operational bandwidth toward Currenc's high-growth AI and Web3 initiatives, despite WalletKu's FY2025 revenue decline of 46.9% to US$7.7 million and a net loss of US$0.45 million.
Key Highlights
- Currenc Group suspended active business operations of its Indonesian subsidiary, WalletKu.
- WalletKu's workforce will be terminated, and outstanding third-party vendor debts settled.
- Up to US$150,000 allocated for WalletKu's employee severance and third-party debts.
- WalletKu's local airtime revenues declined 46.9% year-over-year to US$7.7 million in FY2025.
- WalletKu reported a net loss of US$0.45 million for FY2025.
- The move is part of a strategic shift to prioritize high-margin AI and Web3 verticals.
Price Impact
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