Vancouver, BC, May 24, 2022 (Globe Newswire) – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (“Company”) is pleased to announce a corporate update.
- Top level card issuer Approval
- Cryptocurrency trading registration
- And – Prominent Canadian Online Foreign Exchange
- MD&A Clarification
Top level card issuer approval
Shareholders were informed on April 1, 2022 that the company expected that affiliate membership status would be granted soon. Following the release of the news, the company and the card issuer have resolved all the pending issues and may suggest today that the approved membership status is expected to be granted in the coming days. Shareholders will be closely informed when the final status will be approved through the upcoming news release. The partner is one of the top 4 global card issuers, accounting for more than 50% of all credit cards in circulation in the United States and over 50% in Europe.
Dubai Financial Services Authority (DFSA) Financial license
Company Pursuit 4M International Financial License, shareholders were informed on 1 April 2022 that the application to the Dubai Financial Services Authority (DFSA) was on the way to fruition. On the 30thM In March 2022, the UAE authorities received answers to two small questions. The company received another recommendation from the DFSA which led to the submission of the final revised license petition on the 23rd.rd May 2022. The company is awaiting the final approval of the UAE Payment Service Provider (“PSP”) license. The underlying licensing benefits will allow the company to launch its consumer finance subsidiary RevoluFIN Inc. Other notable aspects include the geographically favorable hub in the MEASA region as an outline of shareholders at the Dubai International Financial Center (“DIFC”). 4M Of December 2020.
Central Bank Cryptocurrency Trading Registration
According to a news release dated April 1, 2022, the company has briefly replied to two additional (2) points of the Central Bank’s supplementary petition on March 25, 2022. On the 18th, external legal advice reached the central bankM May 2022 for a progress report. As a result of this call, the legal advisor informed management, based on the legal response time, that the final response from the central bank should be received on or before the 25th.M June 2022. Following the central bank’s approval, the company expects to quickly launch its white-label advanced RevoluEX-powered platform for DCE (“Digital Currency Exchange”) partners, according to a 14-day press release.M December 2020.
DA – Prominent Canadian Online Foreign Exchange
Following the news release on April 1, 2022, the company agreed on the 23rdrd Expected to sign two final issues related to real-time transaction screening and immediate underlying DA from May 2022. Following the signing of the DA, the planned integration includes financial licensing and cross-use of technology to ultimately simplify banking regulations in North America through the adoption of the Open Banking Act. The company hopes to sign the final DA soon, which will allow RevoluTRANSFER to launch faster and other significant functionality for RevoluPAY app users in North America and support external transactions entering the region.
The company informed shareholders that it had clarified two (2) terms on April 29M2022, MD&A has published and republished the same.
Page 5, paragraph title – Uninterrupted operation of RevoluVIP
April 29, 2022, word choice: timeThe current quarter“
May 24, 2022, word choice: timeThe second quarter ended November 30, 2021“
Links used in this news release.
About DIFC https://www.difc.ae/about/
3D License Dubai https://shortly.cc/O7Ztt
The company’s flagship neobanking technology is RevoluPAY®, Apple and the Android multinational payment app. Fully internal concept, owned by RevoluPAY, contains sector-specific technologies that make the source code the intellectual property of the company. RevoluPAY’s built-in features include remittance payments, forex, crypto-to-fiat exchanges, retail and hospitality payments, real estate payments, pay-as-you-go phone top-ups, gift cards and online credit, UTI Retirement payment, travel payment etc. RevoluPAY employs blockchain protocols and aims at the multi-billion dollar open banking sector worldwide and the + $ 595 billion domestic remittance market. RevoluPAY® is operated by RevoluPAY EP SL, a European wholly owned subsidiary based in Barcelona. RevoluPAY is a licensed United States MSB, Canadian FINTRAC, and European PSD2 payment institution sponsored by EU Guidelines 6900 EU Guidelines 2015/2366 with EU Passport. RevoluGROUP Canada Inc. Controls five wholly owned subsidiaries across four continents.
Related RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. Hall is a multi-asset, multidisciplinary publicly traded Canadian company that incorporates advanced technology; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-ups, Egaming, Healthcare Payments, Sports, Invoice Factoring, Online Travel, Vacation Resort, Blockchain Systems and Fintech App Sector. Click here to read more.
RevoluGROUP Canada Inc. For more information about (TSX-V: REVO), visit the company’s website at www.RevoluGROUP.com. The company has about 186,969,692 shares issued and outstanding.
Revolugroup Canada, Inc.
For more information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: [email protected]
Neither the TSX Venture Exchange nor its regulatory service providers (as defined in the TSX Venture Exchange Policy) accept responsibility for the acquisition.
This release contains certain statements that may be considered “advance statements”. All statements in this release, except statements of historical information, which address events or developments that the company’s management expects, are farsighted statements. Although management believes that the expectations expressed in such far-sighted statements are based on reasonable assumptions, such statements are not a guarantee of future performance, and actual results or developments may differ materially from those of earlier statements. The Company assumes no obligation to update this advance statement in the event of a change in management’s beliefs, assumptions or opinions, or other reasons. Issues that may materially differ from the actual statements in the actual results include market value, research and development success, continued availability of capital and financing, and general economic, market, or business conditions. Please see the company’s public filing www.sedar.com For more information.