Fintech holding company Currenc Group is moving into developing data centers and is developing a facility in Johor, Malaysia. It is also planning a $100 million AI infrastructure investment fund.
The company this week announced plans to acquire 100 acres in Johor for a 500MW data center campus. The first 100MW phase is due live by the end of 2026, providing colocation and wholesale leasing to customers. Further details weren’t shared.
The company said it is currently in discussions with potential anchor customers, and will build out each phase once long-term tenants have been secured.
“This investment marks the beginning of a new chapter in Currenc's development, complementing our existing portfolio of AI tools for financial institutions,” said Alex Kong, founder and executive chairman of Currenc.
“Our new AI data center will deliver unmatched computing power as well as the flexible, scalable infrastructure that financial institutions require to implement AI throughout their operations and thrive in the digital era."
Kong continued: "Bolstered by our AI data center, Currenc's comprehensive AI solutions will continue to lower entry barriers for financial institutions to adopt AI, empowering growth across the financial industry and leading the digital transformation in Southeast Asia and beyond.”
Currenc launches AI infrastructure fund
NASDAQ-listed Currenc Group describes itself as an investment holding company dedicated to backing companies that provide financial and digital inclusion to the unbanked population.
Founded in 2013, it was previously known as Seamless Group Inc. and renamed to Currenc after going public last year via a SPAC merger with Infint Acquisition Corp.
The group’s investments include cross-border payment systems Tranglo and Indonesian digital payment tool WalletKu. It also owns Seamless AI, which offers automated call center agents.
According to its website, the Johor campus is being funded by Currenc Capital and developed by Currenc Power Corp.
This week also saw the company announce plans to form an AI-focused investment fund in collaboration with investment bank ARC Group.
The CURR-ARC AI Fund 1 aims to raise up to $100 million and will invest in AI data centers, green energy, and computing power development.
The fund’s general partner is CURR-ARC GP Limited, a joint venture company owned 80 percent by Currenc and 20 percent by ARC Group.
Around 80 percent of the fund will be dedicated to global investments in AI computing power and green energy infrastructure projects, including the first phase of Currenc’s planned 500MW campus in Malaysia. The remaining 20 percent will target emerging enterprises in the fields of AI ecosystems, fintech, and AI-driven solutions.
“The CURR-ARC AI Fund 1 is a transformative initiative in our strategy to create a robust, sustainable ecosystem that spans AI data centers, green energy, fintech, and AI-driven solutions,” said Currenc’s Kong. “It will allow us to support both established leaders and emerging disruptors across industries, simultaneously fueling innovation in AI and sustainable technology. We’re confident that this investment will enable us to harness AI’s full potential and propel the digital transformation globally, creating substantial value for our stakeholders and society as a whole.”
Abraham Cinta, CEO of ARC Group, added: “We are thrilled to partner with Currenc Group to advance our shared vision for the future of global industries. With our combined expertise in technology and finance, we are well-positioned to shape the next generation of AI innovations, green energy infrastructure, and scalable computing solutions that will drive sustainable global development.”
Located close to the border with Singapore, Johor is quickly becoming a data center hotspot as developers and operators look to secure overspill from Singapore amid ongoing capacity issues.
Other developers and operators in Johor include PDG, AirTrunk, Equinix, Keppel, ChinData's Bridge DC, STT GDC, and Yondr.
