Currenc Group Inc said it has agreed to sell its 60% stake in Malaysian cross-border payments hub Tranglo Sdn Bhd to New Margin Holding Limited for $400 million in cash, marking the first completed step in the Nasdaq-listed fintech firm’s broader restructuring and value-unlocking plan.
Currenc, through its wholly owned unit Seamless Group Inc., will divest 100,465 ordinary shares representing 60% of Tranglo’s issued share capital.
The consideration will be paid in two instalments, with $200 million payable at closing and a further $200 million due within 90 days of closing, the company said.
Completion of the transaction is subject to customary closing conditions, including regulatory approvals in relevant jurisdictions and the completion of shareholder processes under existing arrangements.
Founded in 2008, Tranglo operates a cross-border payment and remittance hub that connects banks, remittance companies and e-wallets, providing last-mile payout services across multiple markets.
The platform supports remittances, business payments and mobile top-ups, with more than 5,000 bank connections and over 140,000 cash pickup points globally.
Currenc said the divestment is a foundational step in its plan to monetise and spin off its operating businesses, simplify its corporate structure and accelerate shareholder value creation.
Proceeds from the sale will be used primarily to reduce debt, strengthening the company’s balance sheet and providing greater flexibility as it pivots toward artificial intelligence, Web3 and digital-asset initiatives.
The company has previously outlined a multi-step restructuring that includes the separation of existing businesses and a proposed reverse-merger framework with Animoca Brands.
The sale of Tranglo represents the first executed transaction under that strategy.
NewMargin Ventures, which manages more than 40 billion yuan in assets and has backed more than 300 companies globally, will complete the acquisition through its offshore investment vehicle, New Margin Holding Limited.
Currenc said NewMargin’s capital base and mergers and acquisitions expertise would support Tranglo’s next phase of expansion.
The $400 million price tag highlights the strategic value investors continue to place on profitable, scaled payments infrastructure in Southeast Asia.
For Currenc, the deal offers immediate balance-sheet relief and tangible proof of execution, though the staged payment structure and regulatory approvals introduce timing and completion risks.