On October 6, 2025, Currents Matters Limited entered the Special Administration in accordance with the insolvency regulations of payments and electronic money 2021.
Frank ofonagoro and Allister Manson of the Opus Business Counseling Team were appointed as a joint special managers.
Kinnitus is allowed by the United Kingdom’s Financial Behavior Authority (FCA) to provide payment services to corporate and retail customers.
On September 1, 2025, the FCA imposed restrictions on monetary issues to undertake certain activities.
Currency managers concluded that the company was insolvent and was applied to the court for a special management order.
Special managers are responsible for managing customer claims against the business and refunding capital to customers where possible.
Customers should contact special managers with any questions by email currongmatters@opusllp.com. Special Managers will gather as much information as possible from creditors and customers about payments made or owed to monetary matters
The Financial Services Compensation Plan (FSC) applies only to certain types of activity. This does not include payment services. Payment companies must comply with the claims on how customer money must be protected, known as ‘assurance’.
This means that the business was forced to keep the money separately for its customers. Special managers will evaluate all the funds held by the business to determine which are protected for customers and owned by the business. They will then begin the refund process to customers.