Associated tags: USD, Internet, Consumer-to-business, SAN, Cryptocurrency, Blockchain
Locations: HOUSTON, TEXAS, ASIA, BULGARIA, LATIN AMERICA, NEW YORK CITY, LOS ANGELES, NEVADA, PUERTO RICO, WALL STREET, NEW YORK, SAN DIEGO, CALIFORNIA, US, CA, EU, NORTH AMERICA, EUROPE
SAN DIEGO, CA, Aug. 03, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, announced today the Company on July 31, 2023 closed the first of two exchange transactions, with an existing noteholder (the “Noteholder”) under the terms of an Exchange Agreement, dated July 25, 2023 (the “Exchange Agreement”), and issued 6,000 shares of Series A Convertible Preferred Stock to the Noteholder in exchange for $4,297,000 of the outstanding principal balance of the Note and $1,703,000 of accrued interest.
Key Points:
- SAN DIEGO, CA, Aug. 03, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, announced today the Company on July 31, 2023 closed the first of two exchange transactions, with an existing noteholder (the “Noteholder”) under the terms of an Exchange Agreement, dated July 25, 2023 (the “Exchange Agreement”), and issued 6,000 shares of Series A Convertible Preferred Stock to the Noteholder in exchange for $4,297,000 of the outstanding principal balance of the Note and $1,703,000 of accrued interest.
- As recently announced in a July 26, 2023 press release , under the terms of the Exchange Agreement, the Company and the Noteholder agreed to exchange, in two separate exchanges, an aggregate of $22.703 million of the outstanding principal and interest under an outstanding convertible note, held by the Noteholder, for 15,000 shares of the Company’s s Series A Preferred Convertible Stock .
- The remaining $16,703,000 in principal, not closed on, under the terms of the Exchange Agreement, is to be exchanged for 9,000 shares of Series A Convertible Preferred Stock at an additional closing, subject to the Company’s having satisfied certain conditions, including obtaining stockholder approval for the issuance of all shares of common stock underlying the Series A Convertible Preferred Stock, in accordance with the rules and regulations of NASDAQ.
- Additional information can be found in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 1, 2023, and available on RYVYL’s Investor Relations website https://investors.ryvyl.com/financials/sec-filings/
SAN DIEGO, CA, July 31, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL” or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, will report financial results for the second quarter on Monday, August 14, 2023.
Key Points:
- SAN DIEGO, CA, July 31, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL” or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, will report financial results for the second quarter on Monday, August 14, 2023.
- RYVYL management will host a conference at 4:30 p.m. Eastern Time on Monday, August 14, 2023 to discuss second quarter 2023 financial results, provide a corporate update and end with a question and answer session.
- To participate, please use the following information and submit your questions in writing prior to the call at [email protected] .
SAN DIEGO, CA, July 26, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, has agreed to an amendment of terms with the noteholder of the $100 million convertible note financing, originally entered into on November 5, 2021.
Key Points:
- Under the terms of an Exchange Agreement, in two separate exchanges, an aggregate of $22.703 million of the existing note will potentially be exchanged into 15,000 shares of a new class of RYVYL convertible preferred stock, with an aggregate stated value of $15,000,000.
- Under the terms of the separate Leak-Out Agreement with the noteholder, there are also certain limitations on the noteholder’s sales of RVYL stock in the open market.
- We believe that the exchange should significantly bolster and revitalize our capital structure with the added benefit of mitigating NASDAQ compliance deficiencies risk on both bid price compliance and future shareholder equity requirements.
- We are grateful to have this institutional level commitment to our global growth capabilities.”
SAN DIEGO, CA, July 19, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions today announced preliminary financial results for the second quarter of 2023.
Key Points:
- Q2 2023 Revenues Exceed Guidance Range of $12.5 to $14 million, Growing 30% Sequentially to $14.5 million
Q2 Processing Volume Exceeds Guidance Range of $580 to $610 million, Growing 16% Sequentially to $650 million
SAN DIEGO, CA, July 19, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions today announced preliminary financial results for the second quarter of 2023.
- RYVYL expects total revenues for the second quarter of 2023 to be at least $14.5 million, representing a 30% sequential increase when compared to revenues of $11.3 million in the first quarter 2023 and above the Company’s Q2 target range of $12.5 to $14 million.
- Q2 2023 processing volume is expected to be at least $650 million, an increase of 16% from the first quarter 2023 and above the Company’s target range of $580 to $610 million.
- “We are proud to report continued strong business momentum across all major channels in the second quarter leading to revenue and processing volume exceeding our prior guidance,” said Min Wei, Chief Operating Officer of RYVYL.
SAN DIEGO, CA, July 17, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, announces Simon & Edward, LLP has been engaged as the accounting firm and auditor of coyni, Inc., replacing MaloneBailey effective July 12, 2023.
Key Points:
- SAN DIEGO, CA, July 17, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, announces Simon & Edward, LLP has been engaged as the accounting firm and auditor of coyni, Inc., replacing MaloneBailey effective July 12, 2023.
- “Simon and Edward was the natural selection for auditor of coyni, Inc. given their familiarity with RYVYL technology, accounting processes and personnel from assisting us with the process of regaining compliance earlier this year,” said Ben Errez, Chairman of RYVYL.
- “Furthermore, having them as auditor for both companies has the added advantage of streamlining operations for both RYVYL and coyni, as we move forward towards completion of the spin-off and look to begin a capital raise for the eventual Nasdaq uplist.”
This collaboration is set to revolutionize the way funds are transferred between accounts, offering fast, convenient, and secure transactions.
Key Points:
- This collaboration is set to revolutionize the way funds are transferred between accounts, offering fast, convenient, and secure transactions.
- By utilizing Visa Direct, RYVYL’s clients will experience the benefits of faster access to funds, with money becoming available within minutes instead of days.
- “Facilitating faster transfers through Visa Direct allows RYVYL EU to keep pace with the rapidly evolving payments industry.
- Visa Direct is Visa’s digital platform that allows organizations to move money directly to cards, bank accounts and wallets globally.
With RYVYL EU being a fully licensed electronic money institute (EMI), this partnership will enable RYVYL EU's customers to use Visa Direct, a state-of-the-art account-to-account transfer solution.
Key Points:
- With RYVYL EU being a fully licensed electronic money institute (EMI), this partnership will enable RYVYL EU's customers to use Visa Direct, a state-of-the-art account-to-account transfer solution.
- This collaboration aims to revolutionize the way funds are transferred between accounts, providing fast, convenient, and secure transactions.
- Through the partnership, RYVYL EU valued customers will soon have access to highly advanced and convenient payment services via Visa Direct.
- “Facilitating transfers through Visa Direct gives RYVYL EU a competitive advantage over other financial institutions allowing the services that the RYVYL family of companies provide to keep pace in the rapidly evolving payments industry.
With RYVYL EU being a fully licensed electronic money institute (EMI), this partnership will enable RYVYL EU's customers to use Visa Direct, a state-of-the-art account-to-account transfer solution.
Key Points:
- With RYVYL EU being a fully licensed electronic money institute (EMI), this partnership will enable RYVYL EU's customers to use Visa Direct, a state-of-the-art account-to-account transfer solution.
- This collaboration aims to revolutionize the way funds are transferred between accounts, providing fast, convenient, and secure transactions.
- Through the partnership, RYVYL EU valued customers will soon have access to highly advanced and convenient payment services via Visa Direct.
- “Facilitating transfers through Visa Direct gives RYVYL EU a competitive advantage over other financial institutions allowing the services that the RYVYL family of companies provide to keep pace in the rapidly evolving payments industry.
Blockchain,
Interim,
BS,
Controller,
Risk management,
MBA,
Practice management,
Restaurant,
SAN,
CFO,
KPMG,
Financial management,
Certified Treasury Professional,
Management,
Indiana University SAN DIEGO, CA, June 06, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, today announced that it has appointed Gene Jones, as Interim Chief Financial Officer of the Company, replacing former Interim Chief Financial Officer, Mary Lay Hoitt.
Key Points:
- SAN DIEGO, CA, June 06, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, today announced that it has appointed Gene Jones, as Interim Chief Financial Officer of the Company, replacing former Interim Chief Financial Officer, Mary Lay Hoitt.
- For over 35 years Jones has served within various executive roles including Chief Financial Officer, Chief Operating Officer, Corporate Treasurer and Controller for public, private equity, venture funded, and start-up companies.
- He has a long history of helping firms of all sizes with financial management, IT, human resources, risk management, and technology services.
- Most recently, Gene collaborated with Mary and the RYVYL team to complete the 2021 and 2022 financial restatements and subsequent compliance filings for RYVYL.
Today, the SEPA instant credit transfer scheme encompasses over 2,000 payment service providers in the Euro zone – a targeted business client space for RYVYL EU.
Key Points:
- Today, the SEPA instant credit transfer scheme encompasses over 2,000 payment service providers in the Euro zone – a targeted business client space for RYVYL EU.
- With this approval, RYVYL EU will enable incoming and outgoing instant transfers via SEPA on July 3, 2023.
- “We are very excited to announce that RYVYL EU has received the approval from European Payments Council,” said Fredi Nisan, RYVYL’s Chief Executive Officer and co-founder.
- “The launch of SEPA instant payments is another important milestone for our company to facilitate faster payment transfers and enhance customer experience for our clients in the European markets.
