Vancouver, BC, August 3, 2022 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (“Company”) is pleased to announce that on the 3rd August 2022 The Central Bank officially granted approval to register the company as one of the first authorized entities for crypto stored value and crypto trading in Europe. The approval was granted at a time when EU regulators mandated comprehensive DCE and Crypto regulations in July 2022. The Central Bank is focused on registry entries to ensure categorical compliance with all international AML criteria provisions, as well as anti-money laundering and financing of terrorism. The company’s RevoluEX platform demonstrated that, even before the now-mandatory KYC and AML requirements, it proactively complied and complied with all regulatory aspects, resulting in today’s approval.
First mover status established
According to the Company’s knowledge, RevoluPAY is the first pan-European financial institution with a license for 27 countries that has received both central bank crypto stored value registration and crypto trade registration in accordance with legally binding pan-European MiCA regulations. Starting today, RevoluPAY’s unique combined ability to transact as a licensed Financial Institution Sovereign Currency (FiAT) and a recognized Central Bank crypto operator is expected to attract significant attention in the crypto industry, which peaked at $2.9 trillion in November 2021 . Time is running out for DCEs, as the EU Commission has granted the European Securities and Markets Authority (“ESMA”) new and far-reaching powers to systematically ban, outright and overnight, any non-compliant actor in the cryptosphere. As of today’s news, any DCE wishing to comply with any and all applicable regulations immediately needs to simply flag the RevoluEX technology company or, through a contractual agreement, conduct all transactions through the company’s financial banking licenses that uniquely boast additional crypto stored value and Crypto Trading approved registration that ensures full end-to-end compliance.
The scope of today‘with Crypto regulation Milestone
Many DCE crypto giants urgently want to maintain growth while gaining mandatory regulatory legitimacy amid fears of actual and present global regulation. RevoluPAY now provides a valuable regulatory solution for DCEs to remain fully compliant with all parties of any crypto trade. Namely, the bilateral component of Fiat currency, KYC (“Know Your Customer”) and AML (“Anti-Money Laundering”) plus elements of stored value and crypto trading. Furthermore, the company RevoluEX technology is plug-and-play, which has achieved all aspects of API integration, enabling a quick turnkey solution. RevoluEX is available as an API built into current DCE platforms or a standalone white label implementation under any of the DCE branding or logos described in the recent Market Herald article. Further unique international regulatory benefits available to DCE partners include US MSB’s RevoluPAY, Canada’s FINTRAC and Europe’s PSD2 payment institution 6,900 financial capabilities native to our financial technology. Furthermore, yesterday’s launch of RevoluTRANSFER now allows future DCE partners to trade bilaterally as on/off up to $3 million per transaction.
Links used in this release.
Financial licenses of EU 27 countries – https://tinyurl.com/ycyat7j3
RevoluPAY EP SL bank registration – https://tinyurl.com/4jmtke6b
RevoluEX – https://revoluex.com/
Market Herald article December 12, 2020 – https://tinyurl.com/mr3kz68u
RevoluTRANSFER – https://revolutransfer.com/
The leading company in Neobanking technology is RevoluPAY®, a multinational payment application for Apple and Android. Conceived entirely in-house, RevoluPAY features proprietary sector-specific technology whose 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 and online loans, utility bill payments, leisure payments, travel payments, etc. RevoluPAY uses blockchain protocols and directly targets the global multi-billion dollar Open Banking sector and the +595 billion USD family remittance market. RevoluPAY® is managed by the wholly owned European subsidiary RevoluPAY EP SL located in Barcelona. RevoluPAY is a licensed US MSB, Canadian FINTRAC and European PSD2 payment institution 6900 under EU Directive 2015/2366 with EU Passporting. RevoluGROUP Canada Inc. controls five wholly owned subsidiaries on four continents.
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RevoluGROUP Canada Inc. is a multi-asset, multi-divisional, publicly traded Canadian company applying advanced technologies in; Banking, Mobile Apps, Remittance, Mobile Top-Up, EGaming, Healthcare Payments, E-Sports, Invoice Factoring, Online Travel, Resort, Blockchain Systems and Fintech Application Sectors. Click here to read more.
For further information about RevoluGROUP Canada Inc. (TSX-V: REVO) visit the company’s website at www.RevoluGROUP.com. The company has approximately 189,607,876 issued shares that are in circulation.
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This press release includes certain statements that may be considered “forward-looking statements”. All statements in this press release, except for statements of historical fact, which refer to events or developments expected by the Company’s management, are forward-looking statements. Although management believes that 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 change. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, research and development successes, continued availability of capital and financing and general economic, market or business conditions. Please see the Company’s public documents at www.sedar.com for further information.