RYVYL (NASDAQ: RVYL), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, has named an interim chief financial officer. According to the announcement, Mary Lay Hoitt, CPA, will serve in the position that was vacated after J. Drew Byelick resigned. Hoitt comes to the position with more than 25 years serving at both public and private firms in chief financial officer and vice president roles. She has experience with companies ranging from early-stage startups to global companies with annual revenues of more than $300 million. Hoitt has been involved with restructuring and turning around numerous distressed entities, including three mergers and one management buyout within the United States and eight acquisitions and three divestures for European and South American corporations. “Mary is an experienced, highly respected leader with a strategic financial mindset to support RYVYL in our process of restating previously issued financial statements and filing our upcoming 2022 year-end annual report,” said RYVYL chair Ben Errez in the press release. “We welcome her to the position and are pleased to have someone of her caliber and financial skill set serve as our Interim CFO. I’m confident that Mary’s demonstrated success in leading finance departments of companies in complex, highly competitive industries, will help us deliver for our shareholders. On behalf of our board and management team, I would also like to thank Drew for his service and contributions to RYVYL.”
To view the full press release, visit https://ibn.fm/HRy27
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging unique blockchain security and USD-pegged stablecoin technology with near real-time attestation, RYVYL is reinventing the future of financial transactions using its coyni(R) stablecoin platform as a transactional foundation. Since its founding as GreenBox POS in 2017, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information about the company, please visit www.GreenBoxPOS.com.
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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