CURR 6-K
Currenc Group Inc. (CURR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-
16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2025
Commission File Number: 001-41079
Currenc Group, Inc.
(Translation of registrant’s name into English)
410 North Bridge Road,
Spaces City Hall,
Singapore
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Press Release
On December 1, 2025, Currenc Group, Inc., an exempted company incorporated and registered in the Cayman Islands (the “Company” or “Currenc”) issued a press release announcing its first half year results for the six months ended June 30, 2025, which is attached as Exhibit 99.1 hereto.
INDEX TO EXHIBITS
| Exhibit No. | Description | |
| 99.1 | Press Release of Currenc Group, Inc. dated as of December 1, 2025 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 1, 2025
| CURRENC GROUP INC. | ||
| By: | /s/ Wan Lung Eng | |
| Name: | Wan Lung Eng | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
Press Release – Currenc Group Inc. Announces First Half 2025 Financial Results
SINGAPORE, December 1, 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 its financial results for the six months ended June 30, 2025.
First Half 2025 Financial Highlights
| ● | Total Processing Value (TPV) through Tranglo was US$2.8 billion for the first half of 2025, decreasing by 5.8%1 year-over-year. Total number of transactions decreased by 0.1%, from 5.84 million in the first half of 2025, compared with 5.85 million for the same period of 2024. Beginning in Q3 2025, TPV changes were calculated in local currency. Under this method, TPV would have decreased by 8.8% in Q1 2025 and 2.8% in Q2 2025. |
| ● | Total Revenues, excluding TNG Asia and GEA2, were US$18.8 million for the first half of 2025, representing a year-over-year decrease of 10.8%3, primarily due to a 19% decline in global airtime revenue and a 21% decline in Indonesian Airtime revenue. |
For the six-month period ended June 30, | ||||||||
| 2025 | 20242 | |||||||
| US$ | US$ | |||||||
| (dollars in thousands) | ||||||||
| Remittance revenue excluding TNG Asia & GEA | 9,809 | 9,841 | ||||||
| Global Airtime Revenue | 4,018 | 4,962 | ||||||
| Indonesian Airtime Revenue | 4,933 | 6,217 | ||||||
| Other Revenue | 8 | 89 | ||||||
| Total Revenue excluding TNG Asia & GEA | 18,768 | 21,109 | ||||||
| ● | Total remittance revenues2 contributed by Tranglo, were US$9.8 million for the first half of 2025, a decrease of 0.3% year-over-year. The decrease in remittance revenue was mainly due to lower contributions from the Hong Kong market following the exit of TNG Asia and GEA from the remittance business at the end of 2024. Tranglo’s overall take rate was 0.36% in the first half of 2025, in line with 0.36% in the same period of 2024. |
| ● | Currenc’s global airtime transfer revenues were US$4.0 million for the first half of 2025, representing a year-over-year decrease of 19.0%. The growing availability of free Wi-Fi in Southeast Asian countries, especially Malaysia and Indonesia, has led to declining demand for Malaysia-Indonesia airtime transfers, resulting in a decline in global airtime business in the first half of 2025. As Currenc expects this trend to continue in Southeast Asian markets, the Company’s management plans to deemphasize airtime transfer and reallocate its resources and capital to expand its new AI product offerings. |
1 Change in TPV is calculated based on the local currency. TPV would increase by 1.8% year-over-year, if it is calculated by converting the local currency to US dollars. USD translation convention used for displaying TPV levels are based on month end exchange rate.
2 Currenc divested TNG Asia and GEA in August 2024 and July 2024, respectively. As such, from the fourth quarter of 2024 onward, only Tranglo’s (digital remittance and global airtime transfer businesses) and WalletKu’s (Indonesian airtime business) results will be consolidated and reported in the Company’s financial statements.
3 Total 2024 revenues include intercompany transactions.
| ● | Total direct costs of revenue were US$12.3 million for the first half of 2025, representing a year-over-year decrease of 22.5%. |
| ● | The direct payout rate for Tranglo’s remittance business was 0.13% for the first half of 2025, a slight increase compared with 0.11% for the same period of 2024. Currenc’s overall gross profit margin ratio for the first half of 2025 was 34.3%, compared with 34.0% for the same period of 2024. |
| ● | Total operating expenses increased to US$15.1 million for the first half of 2025 from US$11.0 million for the same period of 2024. The increase was mainly due to expenses of US$4.3 million in recognition of the incentive shares granted to employees upon the completion of the INFINT SPAC merger. |
As Currenc divested TNG Asia and GEA in August and July 2024, respectively, its operating costs now reflect the operating costs of Tranglo, WalletKu and the Company’s headquarters only. Also, with the rollout of its new AI initiatives, Currenc incurred US$1.5 million in operating costs related to these new businesses in the first half of 2025.
| ● | Tranglo’s operating costs for the first half of 2025 were US$5.8 million, representing an increase of 8.05% from US$5.4 million in the same period of 2024. |
| ● | WalletKu’s operating costs were US$0.3 million for the first half of 2025, compared with US$0.6 million for the same period of 2024. |
| ● | Professional fees and director fees were US$2.1 million for the first half of 2025. |
| ● | Net loss was US$9.5 million for the first half of 2025, primarily driven by the net loss of US$10.8 million incurred by headquarters and adjustments. |
| ● | EBITDA analysis |
| For the six-month period ended June 30, 2025 | Tranglo | WalletKu | TNG Asia and GEA | Headquarters and adjustments | Group Total | |||||||||||||||
| US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| Net income (loss) | 1,637 | (247 | ) | - | (10,842 | ) | (9,452 | ) | ||||||||||||
| Add: | ||||||||||||||||||||
| Income tax expenses | 289 | - | - | (185 | ) | 104 | ||||||||||||||
| Interest expense, net | 36 | - | - | 1,990 | 2,026 | |||||||||||||||
| EBIT | 1,962 | (247 | ) | - | (9,037 | ) | (7,322 | ) | ||||||||||||
| Depreciation and amortization | - | - | - | - | 1,129 | |||||||||||||||
| EBITDA | 1,962 | (247 | ) | - | (9,037 | ) | (6,193 | ) | ||||||||||||
| ● | The Company’s total EBITDA for the first half of 2025 was a loss of US$6.2 million. | |
| ● | Tranglo and WalletKu’s combined EBITDA for the first half of 2025 was US$1.7 million. | |
| ● | TNG Asia and GEA’s combined losses had no impact on the Company’s results from the fourth quarter of 2024 onwards as they were divested before the completion of the de-SPAC merger. |
| ● | Headquarters expenses and adjustments recorded an EBIT loss of US$9.0 million, mainly contributed by: |
| ● | US$4.3 million in “Operating Expenses” in recognition of the incentive shares granted upon completion of the de-SPAC merger. | |
| ● | US$1.5 million for the expenses incurred on developing AI projects. | |
| ● | US$2.1 million for professional fees. | |
| ● | US$0.8 million for amortization of intangible assets (Tranglo). |
| For the six-month period ended June 30, 2024 | Tranglo | WalletKu | TNG Asia and GEA | Headquarters and adjustments | Group Total | |||||||||||||||
| US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| Net income (loss) | 1,656 | (254 | ) | (2,914 | ) | (4,727 | ) | (6,239 | ) | |||||||||||
| Add: | ||||||||||||||||||||
| Income tax expenses | 325 | - | - | (185 | ) | 140 | ||||||||||||||
| Interest expense, net | - | - | 1,686 | 2,141 | 3,827 | |||||||||||||||
| EBIT | 1,981 | (254 | ) | (1,228 | ) | (2,771 | ) | (2,272 | ) | |||||||||||
| Depreciation and amortization | - | - | - | - | 1,849 | |||||||||||||||
| EBITDA | 1,981 | (254 | ) | (1,228 | ) | (2,771 | ) | (423 | ) | |||||||||||
Management Comments
“While global demand for digital remittance continues to grow, competition across major corridors has intensified,” said Alex Kong, Founder and Executive Chairman of Currenc. “In this environment, we prioritized pricing discipline, maintaining Tranglo’s take rate at 0.36% while delivering US$2.8 billion in TPV in the first half of 2025. Strategically, we continue to deemphasize lower-value airtime services, redirecting capital and resources toward our AI initiatives to deepen engagement with financial-institution clients, broaden our addressable market, and extend our remittance reach across additional high-volume corridors. Looking ahead, we remain committed to strengthening our remittance franchise while broadening our AI portfolio to create a more balanced, higher-quality revenue mix and deliver sustainable long-term value to our shareholders.”
Wan Lung Eng, Chief Financial Officer of Currenc Group, commented, “Our first-half performance reflects solid execution in our remittance business, which largely offset the expected decline in airtime revenues. Tranglo and WalletKu together generated positive EBITDA of US$1.7 million in the first half, while disciplined pricing and cost management kept our gross margin stable at 34.3% and maintained Tranglo’s payout rate at a healthy 0.13%. Operating expenses increased to US$15.1 million, mainly due to US$4.3 million in incentive share expenses associated with the de-SPAC merger and US$1.5 million in investments to develop our new AI offerings. Looking ahead, we will continue to streamline our cost structure, capitalize on our remittance strengths, and scale AI-driven growth to boost our profitability and shareholder value.”
Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with GAAP, it uses EBITDA, a non-GAAP financial measure as described below, to understand and evaluate its core operating performance. This non-GAAP financial measure, which may differ from similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. Currenc believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results. This non-GAAP financial measure eliminates the impact of items that Currenc does not consider indicative of the performance of its business. While Currenc believes that this non-GAAP financial measure is useful in evaluating its business, this information should be considered supplemental in nature and is not meant as a substitute for the related financial information prepared in accordance with GAAP.
About Currenc Group Inc.
Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
For additional information, please refer to the Currenc website https://www.currencgroup.com and the annual report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact
Currenc Group Investor Relations
Email: [email protected]
SOURCE: Currenc Group Inc.
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Six months ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| US$ | US$ | |||||||
| Revenue | 18,767,794 | 24,110,787 | ||||||
| Cost of revenue | (12,325,387 | ) | (15,906,252 | ) | ||||
| Gross profit | 6,442,407 | 8,204,535 | ||||||
| Selling expenses | - | (9,759 | ) | |||||
| General and administrative expenses | (15,108,457 | ) | (10,965,337 | ) | ||||
| Loss from operations | (8,666,050 | ) | (2,770,561 | ) | ||||
| Finance costs, net | (2,026,851 | ) | (3,826,722 | ) | ||||
| Other income | 1,473,556 | 538,180 | ||||||
| Other expenses | (128,596 | ) | (39,734 | ) | ||||
| Loss before income tax | (9,347,941 | ) | (6,098,837 | ) | ||||
| Income tax expense | (103,713 | ) | (140,429 | ) | ||||
| Net loss | (9,451,654 | ) | (6,239,266 | ) | ||||
| Net income attributable to non-controlling interests | 122,093 | (609,895 | ) | |||||
| Net loss attributable to CURRENC Group Inc. | (9,329,561 | ) | (6,849,161 | ) | ||||
| Net loss per share, basic and diluted (1) | $ | (0.20 | ) | $ | (0.20 | ) | ||
| Shares used in net loss per share computation, basic and diluted (1) | 46,527,999 | 33,980,753 | ||||||
| Other comprehensive loss: | ||||||||
| Foreign currency translation adjustments | 837,738 | (117,968 | ) | |||||
| Total comprehensive loss | (8,613,916 | ) | (6,357,234 | ) | ||||
| Total Comprehensive loss (income) attributable to non-controlling interests | 76,168 | (624,695 | ) | |||||
| Total comprehensive loss attributable to CURRENC Group Inc. | (8,537,748 | ) | (6,981,929 | ) | ||||
(1) Retrospectively restated to reflect Reverse Recapitalization
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
June 30, 2025 | December 31, 2024 | |||||||
| US$ | US$ | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | 59,579,802 | 63,821,397 | ||||||
| Restricted cash | 42,636 | 40,742 | ||||||
| Accounts receivable, net | 1,706,230 | 2,115,681 | ||||||
| Other financial assets | 1,699,380 | - | ||||||
| Amounts due from related parties | 445,660 | 560,823 | ||||||
| Prepayments, receivables and other assets | 14,680,844 | 20,948,216 | ||||||
| Total current assets | 78,154,552 | 87,486,859 | ||||||
| Non-current assets: | ||||||||
| Equipment and software, net | 1,111,394 | 1,055,520 | ||||||
| Right-of-use asset | 261,765 | 349,240 | ||||||
| Intangible assets | 2,615,839 | 3,386,117 | ||||||
| Goodwill | 12,059,428 | 12,059,428 | ||||||
| Deferred tax assets | 344,291 | 342,822 | ||||||
| Total non-current assets: | 16,392,717 | 17,193,127 | ||||||
| Total assets | 94,547,269 | 104,679,986 | ||||||
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Borrowings | 20,629,366 | 20,150,058 | ||||||
| Receivable factoring | 64,079 | 258,415 | ||||||
| Other financial liabilities | 1,786,050 | - | ||||||
| Accounts payable, accruals and other payables | 36,831,399 | 55,329,740 | ||||||
| Amounts due to related parties | 67,057,905 | 67,697,074 | ||||||
| Convertible bonds | - | 1,750,000 | ||||||
| Lease liabilities | 191,628 | 171,909 | ||||||
| Total current liabilities: | 126,560,427 | 145,357,196 | ||||||
| Non-current liabilities: | ||||||||
| Deferred tax liabilities | 692,045 | 876,912 | ||||||
| Employee benefit obligation | 68,146 | 45,289 | ||||||
| Lease liabilities | 39,259 | 156,647 | ||||||
| Total non-current liabilities: | 799,450 | 1,078,848 | ||||||
| Total liabilities | 127,359,877 | 146,436,044 | ||||||
| Commitments and contingencies (Note 10) | ||||||||
| Shareholders’ deficit: | ||||||||
| Ordinary shares (US$0.0001 par value; 555,000,000 shares authorized 76,084,675 and 46,527,999 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively) (1) | 7,608 | 4,653 | ||||||
| Additional paid-in capital (1) | 83,197,178 | 65,638,838 | ||||||
| Accumulated deficit | (140,852,463 | ) | (131,522,902 | ) | ||||
| Accumulated other Comprehensive Loss | 679,763 | (108,122 | ) | |||||
| Total shareholders’ deficit attributable to Currenc Group Inc. | (56,967,914 | ) | (65,987,533 | ) | ||||
| Non-controlling interests | 24,155,306 | 24,231,475 | ||||||
| Total deficit | (32,812,608 | ) | (41,756,058 | ) | ||||
| Total liabilities and shareholders’ deficit | 94,547,269 | 104,679,986 | ||||||
(1) Retrospectively restated to reflect Reverse Recapitalization
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Six months ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| US$ | US$ | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | (9,451,653 | ) | (6,239,266 | ) | ||||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Non-cash expense for Share-based compensation | 4,324,040 | - | ||||||
| Non-cash expense: others | 86,670 | - | ||||||
| Depreciation of equipment and software | 253,803 | 286,666 | ||||||
| Depreciation of right-of-use assets | 101,352 | 84,081 | ||||||
| Amortization of intangible assets | 770,279 | 1,562,746 | ||||||
| Deferred income taxes | (256,814 | ) | 69,991 | |||||
| Disposal of subsidiaries | - | 27,798 | ||||||
| Disposal of fixed assets | 401 | - | ||||||
| Goodwill impairment | - | 1,657 | ||||||
| Unrealized foreign exchange loss/(gain) | 1,053,480 | (371,444 | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 447,704 | 112,221 | ||||||
| Prepayments, receivables and other assets | 6,269,117 | 11,196,085 | ||||||
| Escrow money payable | - | 171,726 | ||||||
| Client money payable | - | (162,581 | ) | |||||
| Accounts payable, accruals and other payables | (17,684,448 | ) | (15,430,926 | ) | ||||
| Interest payable on convertible bonds | 1,905,472 | |||||||
| Amount due from a director | 72,611 | - | ||||||
| Amount due to Immediate holding company | 1,638,797 | - | ||||||
| Amounts due from related parties | (3,644 | ) | - | |||||
| Amounts due to related parties | 8,739,057 | 4,732,315 | ||||||
| Net cash used in operating activities | (3,639,248 | ) | (2,053,459 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Decrease in short-term investments | - | (23 | ) | |||||
| Purchases of property, plant and equipment | (300,593 | ) | (199,097 | ) | ||||
| Proceeds received from disposal of PPE | 596 | - | ||||||
| Net cash used in investing activities | (299,997 | ) | (199,120 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from borrowings | - | 639,430 | ||||||
| Repayment of borrowings | - | (220,739 | ) | |||||
| Proceeds from receivable factoring | 581,802 | 1,094,878 | ||||||
| Repayment of receivable factoring | (783,745 | ) | (1,183,530 | ) | ||||
| Payment of principal elements of lease liabilities | (84,527 | ) | (87,526 | ) | ||||
| Payment of interest elements of lease liabilities | (13,986 | ) | (4,824 | ) | ||||
| Net cash (used in)/generated from financing activities | (300,456 | ) | 237,689 | |||||
| Net decrease in cash and cash equivalents | (4,239,701 | ) | (2,014,890 | ) | ||||
| Cash and cash equivalents, restricted cash and escrow money receivable at beginning of the period | 63,862,139 | 58,960,384 | ||||||
| Cash and cash equivalents, restricted cash and escrow money receivable at end of the period | 59,622,438 | 56,945,494 | ||||||
| Supplemental disclosure of cash flow information: | ||||||||
| Income taxes paid | (360,528 | ) | (254,890 | ) | ||||
| Interest paid | (64,553 | ) | (726,908 | ) | ||||