Currenc Pauses WalletKu After 46.9% Revenue Drop, Allocates $150K for Liabilities

Currenc has initiated a temporary pause of all active transactional activities at its indirect Indonesian subsidiary, WalletKu, due to structural headwinds in cross-border airtime remittance and declining regional demand driven by widespread free Wi-Fi. The suspension aims to eliminate ongoing drag on the consolidated group and streamline the subsidiary’s balance sheet.

In fiscal 2025, WalletKu’s airtime revenues declined 46.9% year-over-year to US$7.7 million, accompanied by a net loss of US$0.45 million, reflecting the subsegment’s limited profitability potential. These trends followed the loss of its Authorized Indosat Distributor status and a lack of working capital, underscoring the need for strategic realignment.

The board has authorized up to US$150,000 from the holding company level, to be deployed periodically through September 2026, to settle employee severance obligations and third-party debts. This structured framework ensures responsible resolution of outstanding commitments and orderly workforce transitions without further burdening group margins.

With WalletKu operations suspended, Currenc plans to redirect capital and operational bandwidth toward its core AI and Web3 fintech platforms, which offer higher margins and greater long-term growth potential. Future reactivation of WalletKu will depend on full resolution of legacy liabilities and fresh capital deployment aligned with the company’s AI-driven digital finance ecosystem.