Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluPAY EP S.L. has received approval from BBVA Transfer Services ("BTS") to incorporate 52 Brazilian Banks into RevoluSEND. The addition of these banks substantially increases the RevoluSEND reach into Brazil's approximately 2.9B US$ annual remittance market. Brazil is also an emitter of remittances, with Canada being one of the top destinations. RevoluSEND expects to offer these banks to remittance senders and receivers from 1st Jan 2021.
About BBVA Transfer Services ("BTS")
BBVA Transfer services is a subsidiary of BBVA USA, itself a subsidiary of Top 40 World Bank, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). BBVA USA provides commercial and retail banking through 637 branches in Texas, Alabama, Arizona, California, Florida, Colorado, and New Mexico. In November 2020, prominent U.S. Bank PNC signed an agreement to acquire BBVA USA. PNC's agreement to acquire BBVA USA Bancshares, Inc., and its U.S. banking subsidiary, BBVA USA, if ultimately approved by regulators, is a deal through which PNC will become a top-five U.S. bank with a coast-to-coast national franchise.
RevoluGROUP USA Inc. is a U.S. domiciled wholly-owned subsidiary of RevoluGROUP Canada Inc., currently pursuing specific financial licenses in the United States in anticipation of a broader relationship with its current and future banking partners in the United States.
Option and Warrant Exercise
Due to the exercising of employee incentive stock options and warrants, during the past seven days, the Company has received a further capital influx into treasury totaling CA$ 603,600
United States MSB License Update
During the preceding week, management at the Florida based wholly-owned subsidiary RevoluGROUP USA Inc. has continued to liaise with State governments. The petitions for the analogous United States MSB licenses are progressing satisfactorily.
Links Used in This News Release
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 171,570,885 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.