USADigital Finance & Tokenization▼
Currenc Group suspends WalletKu airtime operations to refocus on AI and Web3
Currenc Group has initiated a temporary pause of active transactional operations at its Indonesian digital payments subsidiary WalletKu’s legacy airtime distribution business. The suspension follows structural headwinds in cross-border airtime remittance across Southeast Asia, including widespread free Wi-Fi penetration that reduced demand for Malaysia-Indonesia airtime transfers, leading to a loss of working capital and the cessation of WalletKu’s status as an Authorized Indosat Distributor. WalletKu’s regional airtime revenue fell 46.9% year-over-year to US$7.7 million in fiscal 2025, with a full-year net loss of US$0.45 million. Currenc will allocate up to US$150,000 from the holding company level through September 2026 to settle employee severance liabilities and outstanding third-party debts. Once all legacy obligations are resolved, the company will conduct a strategic review of potential revitalization pathways for WalletKu, contingent on new capital deployment and integration with Currenc’s AI digital financial services ecosystem.