Currenc Group founder converts $54.6 million in debt to equity

Currenc Group Inc. (NASDAQ: CURR) completed a $54.6 million debt-to-equity conversion with founder and Executive Chairman Alex Kong and controlling shareholder Regal Planet Limited, the company announced.

Under the shares-for-debt agreement, Currenc issued 35,653,995 ordinary shares to Kong and Regal Planet to settle outstanding related party loans totaling approximately $54.6 million, based on balances as of July 22, 2025. The transaction eliminates the debt from the company's balance sheet.

"This transaction achieves two critical goals: it significantly strengthens our capital structure, and just as importantly, underscores my profound confidence in Currenc's long-term growth prospects," Kong said in a statement. "By personally reinvesting over $54 million of loans into equity, I am doubling down on the shared vision I hold with our management, employees, and fellow shareholders."

The shares were issued under an exemption from Securities Act registration requirements and are subject to resale restrictions.

Currenc Group provides artificial intelligence solutions to financial institutions, including AI call center services and digital remittance platforms for banks, insurance companies, telecommunications firms and government agencies.

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