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SINGAPORE - Currenc Group Inc. (NASDAQ:CURR), a fintech company with a market capitalization of $157 million, announced Thursday it has retained Shareholder Intelligence Services, LLC (ShareIntel) to monitor and investigate potential naked short selling of its shares. According to InvestingPro data, the stock has shown high volatility with a beta of -0.28, often moving contrary to broader market trends.
The fintech company, which provides AI solutions to financial institutions, said the move is part of a broader initiative to protect shareholder value as it expands globally. ShareIntel’s DRIL-Down process will analyze repository data from reporting entities, broker-dealers and shareholders to provide trading surveillance and actionable intelligence.
"Based on the trading patterns we have observed, we believe Currenc may have been the target of naked short selling and are taking action to understand these trading patterns," said Alex Kong, Founder and Executive Chairman of Currenc.
The company stated it intends to pursue regulatory and legal recourse if appropriate to address any illegal trading or market manipulation involving its shares.
Currenc Group specializes in AI solutions for financial institutions, including AI-powered call centers and digital remittance platforms that enable real-time global payment services.
The announcement was made in a company press release issued Thursday.
In other recent news, Currenc Group Inc. announced it received two notifications from The Nasdaq Stock Market regarding non-compliance with listing rules. The company did not meet the minimum closing bid price of $1.00 per share and failed to maintain the required $50 million market value of listed securities over a 30-day period. Nasdaq has given Currenc Group a 180-day period, ending on December 29, 2025, to regain compliance by meeting these criteria for at least ten consecutive business days. Additionally, Galaxy Payroll Group Limited has signed a Memorandum of Understanding with Currenc Group to develop AI-powered HR solutions. This collaboration will focus on creating an "AI HR & Payroll Manager" with stablecoin payment options and an "AI Recruitment Manager" for automating candidate screening and interview scheduling. These developments indicate a strategic move towards integrating advanced technology in HR processes.
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