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SINGAPORE - CURRENC Group Inc. (NASDAQ:CURR), a company specializing in artificial intelligence (AI) solutions for the financial sector, has announced it regained compliance with Nasdaq's continued listing requirements. The company's stock, currently trading at $1.55, has experienced significant volatility, falling 86% from its 52-week high of $13.59. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment. On April 9, 2025, CURRENC received a notification confirming that its ordinary shares maintained the necessary minimum market value of publicly held shares for over ten consecutive business days, meeting the Nasdaq Global Market's criteria. While this represents a positive development, InvestingPro data reveals challenging fundamentals, including negative EBITDA of -$16.05M and declining revenue growth of -11.76% in the last twelve months. InvestingPro subscribers have access to 12 additional key insights about CURRENC's financial health and market performance.
The specific rule, known as Listing Rule 5450(b)(1)(C), requires a minimum market value of publicly held shares (MVPHS) of $5,000,000 or more. With this achievement, the matter of compliance is now considered closed by Nasdaq.
Ronnie Ka Wah Hui, CEO of CURRENC, expressed satisfaction with the company's return to compliance, attributing the success to the team's efforts in strengthening the business foundation. The company's overall financial health score remains weak, with particularly concerning metrics in cash flow and profitability, according to detailed analysis available on InvestingPro. Hui emphasized the importance of the Nasdaq listing for the company's credibility and exposure within capital markets and reiterated CURRENC's commitment to disciplined execution and innovation to enhance long-term shareholder value.
CURRENC Group Inc. provides a range of AI-powered solutions designed to reduce costs, increase efficiency, and improve customer satisfaction in the banking, insurance, telecommunications, and government sectors. Additionally, the company's digital remittance platform offers real-time, 24/7 global payment services, aiming to improve financial access in underserved communities.
This announcement is based on a press release statement from CURRENC Group Inc. and does not include any speculative information or forward-looking statements beyond the facts presented. The company's return to compliance with Nasdaq's listing requirements marks a positive development for its market presence and investor relations.
In other recent news, CURRENC Group Inc. has introduced a new AI service called 'AI Staff for Hire' aimed at automating key business functions within the finance industry. This new offering, developed by the company's SEAMLESS AI Lab, provides financial institutions with AI-powered agents that can handle tasks such as customer support and compliance, potentially transforming relationship management practices. The AI agents are designed to operate around the clock and offer multilingual support, which could enhance global competitiveness for businesses. This development aligns with industry predictions that AI could manage a significant portion of white-collar tasks by 2030.
Additionally, Roth/MKM has initiated coverage on CURRENC Group with a Buy rating, setting a price target of $3.50. Analyst Craig Irwin highlighted the company's growth potential, particularly in Southeast Asian markets where CURRENC offers remittance services and airtime top-ups. The analyst noted a significant increase in remittance volume due to the company's strategy of reducing user fees. Irwin's analysis suggests that CURRENC Group's geographic expansion and stabilizing take rates could strengthen the company's growth prospects. These developments indicate a positive outlook for CURRENC Group's future performance and its strategic positioning in the market.
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