NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- CURRENC Group Inc. (Nasdaq: CURR) ("CURRENC” or the "Company”), a fintech and digital remittance pioneer serving millions of unbanked and underbanked individuals in Southeast Asia and beyond, today announced that the Company's management celebrated its recent listing with a Closing Bell Ceremony at Nasdaq MarketSite in Times Square this afternoon. CURRENC began trading on the Nasdaq on September 3, 2024, after completing its business combination with INFINT Acquisition Corporation (formerly NYSE: IFIN), which was facilitated by ARC Group Limited.
"Over the past decade, our digital remittance business has experienced rapid growth in both network coverage and total processing value, a testament to our team's dedication and our customers' trust,” said Alex Kong, Founder and Executive Chairman of CURRENC. "I am incredibly proud of our nearly 300 employees, whose relentless efforts have propelled us to this significant milestone. Our shareholders' steadfast commitment has also been key to our sustained high growth, especially through the challenges of COVID-19. Looking ahead, we are excited to continue expanding our impact, bringing innovative financial solutions to underserved communities worldwide.”
"We are thrilled to commemorate CURRENC's Nasdaq listing with today's bell ringing,” said Ronnie Hui, Chief Executive Officer of CURRENC. "Going public marks a major step forward in our mission to transform financial access for the unbanked and underbanked with seamless, real-time, 24/7 cross-border money transfers and other cost-effective financial solutions. I want to extend our gratitude to our team, investors, and partners for their unwavering support as we enter this next phase of growth. We will remain dedicated to revolutionizing cross-border digital remittances while broadening our reach throughout Southeast Asia and beyond.”
Since its founding in 2013, CURRENC (formerly Seamless Group, Inc.) has been at the forefront of digital remittance, advancing financial inclusion for millions of migrant workers and underbanked individuals in emerging markets. In 2023, the Company processed approximately 11 million transactions totaling US$4.54 billion, representing a 28% increase in value compared to 2022. CURRENC's expanding global footprint currently encompasses over one million unique users, more than 5,000 bank partners, and coverage across 150 countries. With its public listing, the Company is poised to execute its international growth strategy, scale its platform and drive progress across the global financial landscape.
A replay of the Closing Bell Ceremony can be found at https://www.nasdaq.com/events/currenc-group-rings-closing-bell.
About CURRENC Group Inc.
CURRENC Group Inc. (Nasdaq: CURR) is a fintech and digital remittance pioneer in Southeast Asia and beyond, serving millions of migrant workers and unbanked individuals. Our platform enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
Forward-Looking Statements
The information in this press release contains certain "forward-looking statements” within the meaning of the "safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 with respect to the Business Combination and CURRENC following the Business Combination. These forward-looking statements generally are identified by the words "believe,” "project,” "expect,” "anticipate,” "estimate,” "intend,” "strategy,” "aim,” "future,” "opportunity,” "plan,” "may,” "should,” "will,” "would,” "will be,” "will continue,” "will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that investors of Seamless may not receive the same benefits as an investor in an underwritten public offering, (ii) the risk that CURRENC's securities may experience a material price decline after the Business Combination, (iii) the risk of product liability or regulatory lawsuits or proceedings relating to Seamless' or CURRENC's business, (iv) the ability of CURRENC to comply with the continued listing standards of Nasdaq, (v) the ability to attract new partners, merchants and users and retain existing partners, merchants and users in order to continue to expand, (vi) the ability of CURRENC to fund its capital requirements through additional debt and equity financing under commercially reasonable terms and the risk of shareholding dilution as a result of additional capital raising, if applicable, (vii) the risk of cyber security or foreign exchange losses, (viii) the risk that CURRENC is unable to secure or protect its intellectual property, (ix) failure to maintain an effective system of internal control over financial reporting and to accurately and timely report CURRENC's financial condition, results of operations or cash flows, and (x) those factors discussed in CURRENC's filings with the SEC and that are contained in the proxy statement relating to the Business Combination. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the "Risk Factors” section of the proxy statement and other documents to be filed by CURRENC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while CURRENC may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. CURRENC does not give any assurances it will achieve its expectations.
Advisors
ARC Group Limited acted as sole financial and M&A advisor to INFINT. Nelson Mullins Riley & Scarborough LLP acted as legal counsel to Seamless. Greenberg Traurig, LLP acted as legal counsel to INFINT.
Investor & Media Contact:
CURRENC Group Investor Relations
Email: [email protected]
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Jenny Cai
Tel: +86 (10) 6508-0677
Email: [email protected]
