Vancouver, BC - CUV Ventures Corp. (TSX-V: CUV) (Berlin: A2JE7L) (the "Company") is pleased to provide shareholders with a corporate update concerning the Revolupay Apple and Android worldwide app for; travel services, remittances, digital wallet and, the underlying corporate structuring.
The company is in the final stages of releasing an Apple and Android powered digital wallet app, designed to be compatible with payments on the company's and, third party, travel websites, operate as a digital wallet for app-to-app transactions and, penetrate the world travel and estimated $150 Billion remittance markets. The app displays balances in both the originating loaded fiat currency and, the corresponding internal CCU Coin Cryptotoken amount. Shareholders have been provided with visuals of Beta 1 and 2 versions of this groundbreaking app, presently in final stages of development through world renowned app creator and, significant shareholder; UXS Mobile (of Mc Donald's, Red Bull, EvoBank, etc. app fame). The entire development of the app is fully paid.
Status of Revolupay App Development
The Revolupay app is in final stages of live testing across disparate geographical regions. Live mockup transactions having been successful between various devices and in multiple currencies. The app is close to being submitted to Apple and Android for final app store approval. The app will be free worldwide.
Status of Revolupay World Trademark Filings
- United States - Preliminary approval
- European Community - Applications approved
- Canada - Applications in final examination stage
- Russian Federation - Applications in final examination stage
- China - Applications in final examination stage
Technical Details of the Revolupay App
- Securitized Digital wallet
- Bank or Credit/Debit Card Wallet loading
- Wallet-to-wallet Transactions
- Blockchain Technology
- Bank or Personal Delivery of Remittances
- Communication protocols: Wi-Fi, Cellular and NFC
- Highest AES-256 Encryption
- CCU Coin Cryptotoken empowered
- Payment means across the company's travel websites
- Apple & Android
Revolupay Europe EDE
The company is in the final stages of incorporating the aforementioned wholly owned European subsidiary. Revolupay Europe will be headed by European resident, CUV Ventures Director and, veteran banking professional; Alfredo Manresa, who will act as director of the sister company. The subsidiaries function will be to handle the worldwide "load" or, inbound funds, onto app user's wallets, in conjunction with licensed international correspondent banks and, Revolupay Europe chosen banking partner Bankia. Revolupay Europe is to immediately pursue its own EDE (electronic money institution) European banking License. Initially, until the said license has been obtained, the company is in the closing stages of signing an agreement with one of Europe's largest EDE licensed entities. Through this partner, wallet loading is already considerably lower in cost than the 2% initially anticipated. Revolupay Europe has also opened its first bank account with Bankia, currently Spain's 4th largest bank. The company has chosen Bankia because it is a major purveyor of bank emitted remittances into South American markets and, promises to be a venerable partner with the non-home delivery remittances.
Revolupay Mexico S.A de CV
The company is in the early stages of incorporating the aforementioned wholly owned Mexican subsidiary and, has received initial approval from the Mexican authorities. The Mexican remittance market is currently $26.8 Billion annually. Revolupay Mexico will be headed by Mexican resident, CUV Ventures Advisor and, Attorney; Walfrido Quinones, who will act as director of the sister company. The subsidiaries function will be to handle the "Remittance Disbursement" or outbound funds, from app user's wallets, in conjunction with licensed correspondent banks. Revolupay Mexico will act as an in-country coordinator between approved financial institutions, master franchisee and app users.
Equity partner, Canadian Fintract Licensed, Duales Inc. is to act as "Remittance Disbursement" agent in The Caribbean and South American markets for both home and bank remittance deliveries.
CEO Steve Marshall will attend several meetings in the Dominican Republic in the month of April 2018 to discuss numerous partner opportunities in the country's travel market and $5.8 Billion remittance market.
Other Wallet Load Partners
The company is in negotiations with a large Asian company that specializes in electronic financial transactions. The company hopes to conclude these negotiations shortly and, incorporate this payment platform into its other wallet load options. The proposed partner could accelerate the entrance of Revolupay and, the company's travel division, into Asian markets enormously.
An internal team of website developers are working, alongside UXS Mobile, to conclude the web based version of Revolupay. Web users will be able to; download the Revolupay app, check balances, add funds and, enact wallet transfers to other app users wallets and, pay for travel services, via both the website and Apple & Android based app.
CUV Ventures will be holding an investors conference call on Thursday, March 29th at 1 pm PST (4 pm EST). The Company's CEO, Steve Marshall will be discussing; Revolupay's launch, RevoluVIP Members only Travel Club, the recently funded RevoluFIN lending platform, the growth of the company's travel division, recent acquisitions and, other points pertaining to the company's expanding horizon. All investors are invited to dial in to the conference call at: 1-888-390-0598 and the following guest code: 5572372.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Money Remittance, Crypto Mining, Mobile Apps, Online Travel, Vacation Resort, Blockchain Systems, Invoice factoring and Cryptotoken sectors.
Our flagship technology is Revolupay®, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide + $150 billion family remittance market.
The ₡CU Coin Cryptotoken, allied to Revolupay®, promises to be the coin of choice for remittance senders, travelers and the hospitality industry. Its increasing adoption across several spheres exemplifies its international perspective and future value amongst users.
The company's Fintech division continues to expand into this rapidly emerging segment, in which it; manages, operates and develops end-to-end digital platforms to monetize the blockchain ecosystem across a broad spectrum of leisure related industries, remittances and finance.
A diverse division of the company, named Cuba Ventures, is involved in Caribbean Basin strategic investments. Similar to the United States Nasdaq listed Herzfeld Fund, the focus is to control noteworthy assets related to the Caribbean Basin (including Cuba). The division is comprised of numerous assets. A wholly owned subsidiary Travelucion Media, a duly licensed and bonded online travel company, Amadeus GDS affiliated, digital & print media powerhouse that specializes in travel marketing, electronic reservations and online booking solutions. Travelucion owns a vast portfolio of web assets consisting of 432 Cuba-centric websites in up to 5 languages which generate over 35 million page-views per year and direct traffic to Travelucion's online booking and e-commerce sites and proprietary online booking systems, also customized for white label deployment on third party booking websites for; Cayman Islands, Dominican republic, Aruba, Bahamas, BVI, Belize, Antigua, Jamaica and Cuba, offering bookings for hotels, private residences, car rentals, tours, flights and a variety of other types of specialized travel services as well.
In 2017, the company acquired equity in the Florida, USA based, licensed and bonded Travel Agency; International Business & Travel Opportunities, LLC (IBTO), a Caribbean Basin focused travel facilitator operating trips in the region (including licensed Cuba trips for Americans).
In 2018, the company acquired equity in the Florida, USA based, Third Circle Publishing LLC, publisher of the esteemed and U.S circulated print and digital magazine Cuba Trade Magazine. CUV Ventures Corp now controls important print and digital media assets, reaching 10s of millions of consumers globally.
In 2018, the company acquired equity in the Toronto; Canada based, duly FINTRAC licensed, remittance company Duales Inc. as part of the Revolupay® remittance app partner network.
In 2018, the company acquired equity in the Miami; USA based, Business Advisory/Consultant Think-Tank Havana Consulting Group, as part of the progressive acquisition of key Cuba related but, non domiciled, businesses.
The Cuba Ventures division consulting team harnesses over 80 years of combined advisor experience in submitting and, obtaining approval, for joint ventures, joint production agreements and import/export permits for foreign enterprises. More recently the company has taken a royalty approach for future agreements between third parties anxious to begin comercial operations with Cuba and, the company's Cuba Consulting Unit.
Through this methodology, the Company is gradually building a potentially valuable "future-ready", non Caribbean (Cuba) domiciled asset base while, in the interim, securing revenue, growth and unique opportunities present in the Caribbean Basin, with an emphasis on the $4 billion dollar and rapidly growing Cuban travel and tourism industry, $3 billion factoring and FinTech sector, $18.6 billion Caribbean remittance industry and international corporate consulting for Cuba's $86 Billion annual economy, which remains an interesting opportunity and, one that this division strives to dominate at every opportunity by acquiring assets that are neither physically domiciled nor associated with entities located in Republic of Cuba but, that have unparalleled future takeover prospects, should the political climate improve.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company's website at www.cuvventures.com. The Company has approximately 121,800,00 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact myself or:
CUV Ventures Corp.
Toll Free: 800-567-8181
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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.