Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluGROUP USA Inc. (dba "RevoluPAY") was granted the Money Transmitters Part II license on the 18th of October 2021 with expanded implicit regulatory approval for Part III financial activities by the Florida Office of Financial Regulation. Additionally, RevoluPAY met registry approval with the United States Department of the Treasury FINCEN ("Financial Crimes Enforcement Network") on the 11th of October 2021.
Company CEO Steve Marshall comments: "Undoubtedly, today's granting of our United States Financial licensing is a major milestone for the Company and the ensemble of our shareholders. The United States holds a vanguard position globally as the #1 remitter of money overseas, annually eclipsing all other countries, sending more money than the 2nd, 3rd, 4th, and 5th countries combined. It is estimated that over 145 billion USD is sent abroad from the U.S annually. We are honored to have been approved by the Florida Office of Financial Regulation and the Department of the Treasury to commence U.S. operations in synergy with our proprietary network of significant self-licensing in 27 European countries, Canada, and +120 countries through bilateral agreements with some of the world's largest financial institutions. Today's inclusion of the United States to our repertoire of Financial licenses brings exceptional opportunities for RevoluPAY from now on, enabling the upcoming launch of numerous pending revenue verticals."
About RevoluGROUP USA Inc.
RevoluGROUP USA Inc. is a wholly-owned subsidiary of RevoluGROUP Canada Inc., domiciled in the Brickell Financial District, Miami, Florida. RevoluGROUP USA Inc. is a Florida licensed Money Service Business responsible for representing all the Company's revenue verticals in the world's largest consumer market. RevoluGROUP USA Inc. is registered with the Department of the Treasury FINCEN ("Financial Crimes Enforcement Network") and handles simultaneous roll-out of the Company's verticals, along with US-based customer support for American citizens using the Company's financial technology. In conjunction with other international subsidiaries, the United States subsidiary offers enhanced self-licensed global financial reach.
Links Used in this News Release.
Forbes Top Remittance Countries https://shortly.cc/hf1UV
Forbes US Remittance Data - https://shortly.cc/Gr9iJ
RevoluPAY Florida MSB License - https://shortly.cc/3FlJq
United States Department of the Treasury FINCEN - https://shortly.cc/MDKwc
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 175,180,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
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.