Vancouver, BC , Aug. 03, 2022 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that on the 3rd of August 2022 the Central Bank officially granted the Company Inscription approval as one of Europe's first authorized Crypto Stored Value and Crypto Trading entities. The approval is awarded at a time when EU regulators mandated sweeping DCE and Crypto regulations in July 2022. The Central Bank's focus with registry Inscriptions is to ensure categoric compliance with all international provisions of AML criteria, as well as the prevention of money laundering and the financing of terrorism. The Company's RevoluEX platform has demonstrated that, even before the now mandated KYC and AML requirements, it preemptively adhered to and complied with every regulatory facet, resulting in today's approval.
First Mover Status Established
To the Company's knowledge, RevoluPAY is the first Pan-European 27-country licensed financial institution to equally obtain the Central Bank Crypto Stored Value and Crypto Trading Registration in compliance with legally binding Pan-European MiCA regulations. From today the unique combined ability of RevoluPAY to transact as both the licensed Sovereign Currency (FiAT) financial institution and Central Bank recognized crypto operator is expected to garner substantial attention in a Crypto industry that peaked at USD 2.9 trillion in November 2021. Time is running out for DCEs, since the EU Commission 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 crypto sphere. As of today's news, any DCE wishing to comply with any and all current regulations immediately need merely either white-label the Company's RevoluEX technology or, through a contractual agreement, transit all transactions through the Company's financial banking licenses uniquely boasting the additional Crypto Stored Value and Crypto Trading approved Registration ensuring complete end-to-end compliance.
The Scope of Today's Crypto Regulatory Milestone
Many DCE crypto giants urgently seek to maintain growth while gaining obligated regulatory legitimacy amid fears of real and present global regulation. RevoluPAY now provides a venerable regulatory solution for DCEs to remain entirely compliant on all sides of an eventual crypto trade. Namely, the bilateral Fiat currency component, KYC ("Know Your Customer"), and AML ("Anti-Money Laundering") plus the Stored Value and Crypto Trading elements. Furthermore, the Company's proprietary RevoluEX technology is plug-and-play, having accomplished all facets of API integration, allowing a rapid turn-key solution. RevoluEX is available as an API incorporated into current DCE platforms or stand-alone white-label deployment under any brand or DCE logo described in the recent Market Herald article. Further unique international regulatory benefits available to DCE partners are the RevoluPAY United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 financial abilities native to our financial technology. Furthermore, yesterday's launch of RevoluTRANSFER now permits future DCE partners to transact bilaterally as on/off ramp up to 3 million USD for a single transaction.
Links Used in this News Release.
EU 27 Country Financial Licenses - https://tinyurl.com/ycyat7j3
RevoluPAY EP S.L Banking Registration - https://tinyurl.com/4jmtke6b
RevoluEX - https://revoluex.com/
Market Herald article 12 Dec 2020 - https://tinyurl.com/mr3kz68u
RevoluTRANSFER - https://revolutransfer.com/
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 licensed United States MSB, 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 189,607,876 shares issued and outstanding.
RevoluGROUP Canada, Inc.
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RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
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.