$1 usd to cad

RevoluGROUP Canada Inc. RevoluPAY USD and CAD App Launch

RevoluGROUP Canada Inc. (TSX-V: REVO ) (Frankfurt: IJA2 ) (the "Company") is pleased to announce that it intends to launch the USD and CAD multicurrency and aesthetically redesigned version of the proprietary RevoluPAY App on or before 20 th Feb 2021. The launch is precisely timed to coincide with numerous future white-label parties for whom multiple currency payments and disbursements are a requisite. The Company further outlines its roadmap to future user acquisition programs through the white-labeling of its technology.

Multicurrency RevoluPAY App

On November 30th, 2020 , the Company informed shareholders of the future projected RevoluPAY App enhancements pertaining to multicurrency, forecasted to support in-app on-the-fly switchable currency accounts initially in CA$, USD, Euro, and GBP. The corporate objective was to enable RevoluPAY and future White-Label users to transact in a specific currency and operate directly in that currency. The Company has since completed the entire multicurrency reprogramming of RevoluPAY allied to the comprehensive aesthetic redesign of the App first revealed on October 19th, 2020 . The enhanced App version planned for release on or before 20 th Feb 2021 incorporates the addition of USD and CA$ functionality, with the inclusion of GBP coming shortly after that. Shareholders are advised that the Company has previously arranged multiple international holding accounts in CA$, USD, Euro, and GBP to guarantee its fiduciary obligations as financial institution 6900 and PSD2 license holder. The launch of multicurrency signifies the start of the white-label rollout projected over the previous years.

White-Label - The Chosen Path for User Onboarding

The Company informed its shareholder on May 25th, 2020 , of its specific plans to incur substantial user onboarding once the technology for all its revenue verticals had been released and proven functional. The Company has now arrived at this juncture. Therefore, it intends to initiate the rollout of numerous white-label variants of RevoluPAY, in some cases incorporating other verticals, into standalone third-party branded apps for multiple partners. These white-label platforms have been coded and are now ready to be deployed. The targets for the white-labeling of our technology have been entities with non-conflicting business models that seek increased revenue from their latent client userbases. The Company will outline below, in reverse chronology, the upcoming planned white label partners:

On the 1 st of February 2021, CEO Steve Marshall entered into a non-disclosure agreement ("NDA") with a mobile phone carrier domiciled in the Caribbean. Said telecommunications provider currently maintains approximately 13 million users in Central America, the Caribbean, and the Pacific. Discussions center around a homogenous carrier-branded packaged white-label version of RevoluPAY, RevoluSEND, RevoluCHARGE, RevolUTILITY, RevoluVIP, RevoluEX, and RevoluPOS.

On the 14   th   of December 2020 , the Company advised shareholders that it had agreed to white-label its RevoluEX technology and RevoluPAY App for the affiliated cryptocurrency exchange Huobi . This white-label development is now completed and expected to launch shortly. It is estimated that Huobi Global maintains 5 million users in over 130 countries worldwide.

On the 17   th   of June 2019 , the Company advised that it entered into negotiations with a Nasdaq listed company focused upon the Mobile, Cable Broadband, and Paid T.V. sectors, with approximately 50 million subscribers in the South American and African markets. The evolution of these negotiations centers around a similar business model to the aforementioned Caribbean telecommunications provider, specifically, a packaged white-label variant of multiple vertical technologies in one packaged App.

On the 18th of June 2018 , the Company advised shareholders that CEO, Steve Marshall, had signed a Non-Disclosure Agreement ("NDA") with a large, highly recognized Chinese Payment processing entity. The Company has recently signed a milestone agreement to procure remittance deliveries into the Chinese market, which was instrumental to the eventual white-labeling and API synergies associated with this eventual collaboration.

On the 9   th   of August 2017 , the Company signed a letter of intent with Al-Fahim Technologies, based in Dubai, UAE. On the 8   th   December 2020 , the Company dispatched corporate advisor Erik A. Lara Riveros 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 expects to submit the final paperwork for said PSP license this month. Those mentioned above, plus several other white-label opportunities, are expected to emerge from the UAE region in Q2 2021.

The Company's roadmap for white-label derived user onboarding has thus been in the public domain throughout the whole term of its now concluded almost four years technology rollout. Each revenue vertical has been conceived from the outset as a future white-label technology, meaning that no retooling nor programming of the Company's core technology is required. The Company anticipates the first white-label branded technology to be that of Huobi, followed shortly by those mentioned previously, many of which have been beta-tested either in synergy with the eventual partner or autonomously.

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 the; 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 174,430,592 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

The Conversation (0)
Bitcoin Well (TSXV:BTCW)

Bitcoin Well


Keep reading...Show less
bitcoin symbol with green bar chart

Bitcoin Sets New Price Record, Surpasses Market Cap of Silver

Bitcoin has hit a new milestone, surpassing the US$72,000 mark in the early hours of Monday (March 11).

The world’s leading cryptocurrency has surpassed analysts' expectations quite a few times over the last two weeks, steadily rising as anticipation of the Bitcoin halving builds and as more investors gain exposure to the popular cryptocurrency through spot Bitcoin exchange-traded funds (ETFs), which were recently approved in the US.

“Major financial institutions are now actively involved in holding and trading BTC, catering to high-net-worth clients, thereby enhancing the significance and acceptance of digital assets within the financial industry," said research analyst Matteo Greco of Fineqia International (CSE:FNQ) in an emailed note.

Keep reading...Show less
bitcoin with blue up arrow

Tech 5: Bitcoin Price Hits New Record, Apple Fined by EU, Novo Nordisk Shares Jump

Bitcoin had its hottest streak in over two years this week, hitting two new all-time price highs.

Meanwhile, pharma giant Novo Nordisk (NYSE:NVO) briefly overtook Tesla (NASDAQ:TSLA) in terms of market cap size, potentially signaling the rise of new power players beyond Silicon Valley.

Also this past week, a former Tesla employee joined Hugging Face as the startup embarks on a new hardware project, and Anthropic released the newest version of its language model family, Claude 3.

Keep reading...Show less
crypto coins

Bitcoin Price Reaches New Record High, Then Pulls Back

The Bitcoin price surged to a new all-time high of US$69,208 on Tuesday (March 5), according to data gathered from CoinDesk, breaking its previous record of just below US$69,000.

The milestone was achieved after a week-long rally, during which the cryptocurrency achieved staggering year-on-year growth of 201 percent. Together the most popular coins experienced average growth of 10 percent week-on-week.

On Monday (March 4), Bitcoin broke global records by surpassing 60,000 euros (about US$65,000) and coming within reaching distance of its previous high in US dollar terms. The cryptocurrency then surged almost 8 percent in 24 hours to trade at US$67,758, less than 2 percent away from the record it set in November 2021.

Keep reading...Show less
Bitcoin price chart.

Bitcoin: A Brief Price History of the First Cryptocurrency (Updated 2024)

In just over a decade, Bitcoin has grown a cult-like following and surged to impressive heights. Now the cryptocurrency of choice, its meteoric rise has been unlike any other commodity, resource or asset — and already in 2024 is on the verge of breaking its record high.

Bitcoin, the most well-known cryptocurrency, has paved the way for the growing cryptocurrency asset class, surging to an all-time high of US$68,649.05 on November 10, 2021. Benefiting from excess cash in the market and investor interest, the price of Bitcoin rose more than 1,200 percent between March 2020 and November 2021 before stuttering in 2022.

As for its price history this year, Bitcoin started 2024 slightly above the US$44,000 mark, but has since spiked to trade at US$61,113 as of February 29, 2024.

Keep reading...Show less
canada flag and various crypto coins

11 Canadian Cryptocurrency ETFs (Updated 2024)

Cryptocurrencies offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as cryptocurrency exchange-traded funds (ETFs).

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021 after the launch of Canada’s first pure-play Bitcoin ETFs for trade on the TSX.

These Canadian cryptocurrency ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

Keep reading...Show less

Latest Press Releases

Related News

×