Blockchain

RevoluGROUP Canada Inc. (TSX-V: REVO ) (Frankfurt: IJA2 ) (the "Company") is pleased to announce an update.

  • MSB License USA
  • DIFC PSP License
  • Top Tier Card Issuer Negotiations
  • Huobi White Label
  • Bizum EU Wallet Load
  • RevoluSEND White Label Partner
  • RevoluPAY Mexico S.A. De CV

MSB License USA

Further to the news release dated the 19th of April 2021 , the Company has received word from Floridian Financial Regulators concerning the MSB license's approval. As the final step, the director and compliance officer of RevoluGROUP USA Inc . must now attend the Florida Department of Law Enforcement (FDLE) center to capture biometrics and fingerprint live-scan for direct upload to the FDLE's encrypted system. Once achieved, an ORI number is issued, which is assigned to the Regulator for final approval. The Company expects to complete this final step during an appointment at the FDLE Center later this month.

DIFC PSP License

Further to the news release dated the 4 th of December 2020 , the Company advised of its intent to pursue the petition of a Payment Service Provider ("PSP") Money Service Business License in the Dubai International Financial Centre ("DIFC") from the Dubai Financial Services Authority. The Company has now concluded all the preliminary legal paperwork required, having protocolized said documents with the UAE Ministry of Foreign Affairs in Ottawa, Canada. Subsequently, these documents are now safely with the corporate attorney Lecoq Associates in Dubai. The Company expects the final license petition to be conclusively submitted by month's end.

Top Tier Card Issuer Negotiations

The Company is pleased to announce that negotiations with one of the world's top four payment card issuers are proceeding favorably. Preauthorization has already been granted. The Company is now concluding some of the final steps required. The talks previously centered around a relationship that could allow RevoluPAY to issue a new multicurrency payment card supplanting the current Euro-based RevoluPAY debit card . In addition, discussions have now included an eventual liaison with various previously announced DCE partners, in which RevoluPAY would be the principally licensed party for card issuance. RevoluPAY would also be permitted to issue and manage all financial matters for branded cards issued to third parties. These negotiations remain subject to a binding non-disclosure agreement ("NDA"). The Company hopes to be able to disclose the name of the cited party later this month. Shareholders will be kept informed as these talks advance.

Huobi White Label

Further to the news release dated the 19th of April 2021 , the Company has remained in close contact with Huobi concerning its launch of the, powered by RevoluPAY, entirely completed Huobi white-label platform. Company advisor Erik Aaron Lara has informed that the rapidly evolving Crypto sphere has compelled Huobi to increase its presence across Europe and adapt to positive market forces. The Huobi white-label may also now supplant a legacy platform previously in existence. Huobi advises the Company that the delayed launch of the enhanced RevoluEX powered white-label platform is directly correlated with the widening acceptance of Crypto in multiple economic sectors, meaning a greater exposure which may include diverse markets and a single corporate App.

Bizum EU Wallet Load

Further to the news release dated the 19th of April 2021 the Company advised it had signed new accords with BBVA ("Banco Bilbao Vizcaya Argentaria"). Due to certain external factors, including the recent PNC acquisition of the BBVA assets in USA, the direct Bizum transactions planned through RevoluPAY E-wallet were rescheduled until mid-June. Bizum is a joint technology partnership between 24 banks to allow seamless transfer of funds to and from the Bizum ecosystem, of which RevoluPAY as institution 6900 is now affiliated.

RevoluSEND White Label Partner

The Company has entered into discussions with a European Central Bank licensed entity concerning an eventual licensing of RevoluSEND for remittance deliveries into Mexico, Brazil, Argentina, Colombia, Chile, Dominican Republic, Bolivia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, Venezuela and Uruguay. The financial entity in question does not possess the Central Bank license required to carry out the activities in the remittance sphere. Conversely, the PSD2 banking license held by RevoluPAY provides unfettered access to this industry. A synergy is planned in which the financial institution would operate a remittance platform, with all flows, AML and KYC handled by RevoluPAY, essentially operating under the RevoluPAY license, with all cash flow-through managed by RevoluPAY. These negotiations are subject to a binding non-disclosure agreement ("NDA"). This promising accord with an established financial institution is expected to enter a definitive agreement ("DA") phase forthwith.

RevoluPAY Mexico S.A. De CV

Company advisor and attorney Walfrido Quinones began incorporating the 6 th wholly-owned subsidiary known as RevoluPAY Mexico S.A. De CV. The Company received initial approval from the Mexican Secretary of Economy on the 26 th of March 2021. Over the previous six weeks, the Company has been working closely with a specialized notary aligned to the Mexican consulate in Canada to satisfy protocolized powers of attorney ("POA") acceptable to the Mexican authorities. The Company expects these critically important Mexican approved documents to be transmitted to the Mexican authorities this month.

Links Used in this News Release.

DIFC Dubai https://www.difc.ae/about/
Lecoq Associates https://www.lecocqassociate.com/
Bizum https://bizum.es/

About RevoluPAY®

The Company's flagship Neobanking technology is RevoluPAY ®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY employs blockchain protocols and is squarely aimed at the worldwide multi-billion dollar Open Banking sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with EU Passporting . RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.

About RevoluGROUP Canada Inc. :

RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.

For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com . The Company has approximately 174,980,592 shares issued and outstanding.

RevoluGROUP Canada, Inc.

"Steve Marshall"
______________________
STEVE MARSHALL
CEO

For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
Email: info@revolugroup.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

How to Invest in NFTs: The Market and the Opportunity (Updated 2022)

How to Invest in NFTs: The Market and the Opportunity (Updated 2022)

The world of digital investments offers a near constant level of innovation, and recently blockchain technology has come together with art investing to create quite the hot market.

Non-fungible tokens, commonly known as NFTs, are the digital assets at the center of the latest investment trend. They’ve gained attention from tech-savvy investors and could lead to a new highly speculative digital age in art investment.

But as NFTs and their variants rise in popularity among both crypto enthusiasts and other investors, an intense debate is growing about the effects of NFTs and whether or not they're actually here to stay.

Keep reading...Show less
bitcoin token

After Ethereum Merge, What’s Next for Bitcoin?

Bitcoin is the biggest cryptocurrency in the world, but last week the market was squarely watching Ethereum as it completed its merge process and brought forth a new age of change for the cryptocurrency space.

The Ethereum merge created a more environmentally friendly standard for the blockchain network, which is home to Ether, Bitcoin's closest cryptocurrency competitor.

Will the Ethereum merge ultimately make Ether a more appealing option than Bitcoin? It's still early days, but experts are watching closely to see how the Ethereum merge will change the cryptocurrency sector.

Keep reading...Show less
Blockchain Technology Stocks: 10 Biggest Companies in 2022

Blockchain Technology Stocks: 10 Biggest Companies in 2022

The blockchain technology sector has experienced notable growth over the past few years. Although 2022 has been a turbulent year for the market, investors are beginning to learn to live with the volatility of blockchain technology stocks.

As Boston Consulting Group’s Zia Yusuf notes in Barron’s, “The combination of blockchain, the internet of things (IoT) and artificial intelligence (AI) for optimizing supply chains is profoundly exciting." Using these emerging technologies in industries with thin margins and complex supply chain needs could make a big difference for logistics.

Similarly, in its Global Blockchain Survey, professional services network Deloitte states that 93 percent of the companies surveyed believe “there is a compelling business case for the use of blockchain, digital assets, and/or cryptocurrencies.” Additionally, 93 percent think these technologies will create new revenue streams.

Keep reading...Show less
cryptocurrencies with laptop and cellphone

What is Crypto? (Updated 2022)

Cryptocurrencies and blockchain technology are making headlines as the digital revolution continues to reshape diverse industries, such as finance, gaming and insurance.

Bitstamp’s 2022 Crypto Pulse report reveals an “overwhelming belief in crypto’s potential” on the part of investors.

“Our first Crypto Pulse report finds that there is a simple equation for adoption: when investors know more, they trust it more, and thus adopt it more,” Julian Sawyer, CEO of Bitstamp, explains in the report.

Keep reading...Show less
CoinAnalyst Rolls Out New Data/AI Engine for Insights

CoinAnalyst Rolls Out New Data/AI Engine for Insights

CoinAnalyst provides a detailed update on their Insight platform's backend architecture

CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) ("CoinAnalyst" or the "Company"), a company that provides an artificial intelligence-based big data analytics platform which delivers detailed AI-powered analysis of market sentiment, fundamentals, and technical indicators to investors in the digital asset sector and other industries, is pleased to announce the release of the new AI-based big data analytics platform's backend.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ethereum physical token

Ethereum Merge Countdown: What Should Investors Know?

The Ethereum merge countdown is on. The network is about to undergo its biggest change ever, and according to experts it's also arguably one of the most critical events in the history of cryptocurrencies.

Unsurprisingly, the cryptocurrency market is buzzing with expectations surrounding the Ethereum merge, which is a planned upgrade to the network under which the world's second most popular cryptocurrency operates.

The Ethereum merge is expected to bring significant energy efficiencies to the market, and could open the doors to disruption among established miners in the space.

Keep reading...Show less

Latest Press Releases

Related News

×