Currenc Group founder returns as CEO after Hui steps down

SINGAPORE - Currenc Group Inc. (NASDAQ:CURR) announced Friday that founder Alex Kong has returned as Chief Executive Officer following the resignation of Dr. Ronnie Hui. The leadership change comes amid significant stock movement, with InvestingPro data showing a 12.5% return over the past week, though the stock remains down about 85% over the past year.

Kong, who previously served as the company’s Executive Chairman, will immediately assume leadership of the fintech firm that specializes in AI solutions for financial institutions.

"On behalf of the Board and executive team, I would like to thank Ronnie for his leadership and dedication to Currenc throughout his tenure," Kong said in a statement released by the company.

The leadership change comes as Currenc continues to develop its AI ecosystem for financial institutions, which includes digital remittance platforms and AI-powered customer service solutions.

Currenc Group, which trades on the Nasdaq under the ticker CURR, focuses on providing artificial intelligence technologies to banks, insurance companies, telecommunications firms, and government agencies. The company’s offerings include SEAMLESS AI Call Centre and other AI agents designed to reduce operational costs for financial institutions.

The company’s digital remittance platform enables e-wallets, remittance companies, and corporations to provide global payment services.

The announcement was made through a company press release. Currenc did not provide specific reasons for Hui’s departure or details about the company’s future strategic direction under Kong’s renewed leadership.

In other recent news, Currenc Group Inc. has completed a significant $54.6 million shares-for-debt transaction with its founder Alex Kong and Regal Planet Limited. This transaction involved the issuance of approximately 35.7 million ordinary shares to settle outstanding related party loans. In another development, Currenc Group has retained Shareholder Intelligence Services, LLC (ShareIntel) to investigate potential naked short selling of its shares. This move is part of the company’s broader initiative to protect shareholder value amid its global expansion efforts.

Additionally, Currenc Group has received notifications from Nasdaq for non-compliance with certain listing rules, specifically regarding the minimum closing bid price and market value of listed securities. The company has been given until December 29, 2025, to regain compliance. In a collaborative effort, Currenc Group has signed a Memorandum of Understanding with Galaxy Payroll Group Limited to develop AI-powered HR solutions. This partnership aims to create modules incorporating stablecoin payment options and automate candidate screening processes.

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