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, announced that its wholly owned subsidiary RYVYL EU has received approval from European Payments Council to be included in the Single Euro Payments Area (“SEPA”) Instant Register. RYVYL EU is a fully licensed electronic money institution (“EMI”). According to the announcement, RYVYL EU will be included on the register beginning June 9, 2023. The company observed that the SEPA instant credit transfer scheme includes more than 2,000 payment service providers in the Euro zone, which is a targeted business client space for RYVYL EU. The approval enables RYVYL EU to conduct incoming and outgoing instant transfers via SEPA; this means RYVYL EU clients will be able to instantly send and receive payments from 36 SEPA countries. In addition, payments such as person-to-person, business-to-business and person-to-business can be made 24/7 on a near real-time basis with funds available to recipients almost immediately. “We are very excited to announce that RYVYL EU has received the approval from European Payments Council,” said RYVYL CEO and cofounder Fredi Nisan in the press release. “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. This is part of our payment infrastructure transformation to deliver a superior Banking-as-a-Service (‘BaaS’) solution.”
To view the full press release, visit https://ibn.fm/EZkSf
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.ryvyl.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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