Coro to Democratize Access to Gold in Nevada - The Real Golden State.
Coro Global (OTCQB: CGLO) has received a U.S. Money Transmitter license for Nevada through its subsidiary, Coro Corp. This enables the company to operate its mobile payment app, CORO, which facilitates the exchange, sending, and saving of gold and dollars. Currently, Coro is licensed in 29 U.S. states and aims for further expansion, including international markets like Mexico and Canada. CEO David Dorr emphasizes the importance of gold as a stable financial asset amid economic instability and inflation, underscoring the company's mission to democratize access to gold.
- Coro received a U.S. Money Transmitter license for Nevada, expanding operational capabilities.
- The CORO app allows secure transactions of gold and dollars, enhancing customer offerings.
- Coro is now licensed in 29 U.S. states, which supports geographical expansion.
- Plans for international expansion into Mexico and Canada are underway.
- Coro has a history of losses and requires additional financing for sustainability.
- The company faces market acceptance challenges for its products and technology.
Miami, Florida, May 27, 2021 (GLOBE NEWSWIRE) -- Coro Global Inc. (OTCQB: CGLO) announced today that its subsidiary Coro Corp., was granted a U.S. Money Transmitter license the State of Nevada. The company created CORO, a mobile payment app that allows anyone to exchange, send and save gold and dollars easily and securely.
Coro Global is a Florida-based fintech on a mission to support people in understanding the value of using gold as resilient money. Coro is leveraging deep financial know-how and the new generation of distributed ledger technology (hashgraph) to build the infrastructure and tools for anyone to be able to buy gold in the smallest denominations and use it as easily as traditional currencies in their everyday lives.
Nevada has a long history with gold. Its trajectory and wealth were built on prolific gold and silver mining, well before casinos sprung up. Today, in terms of real gold production, Nevada is a hotbed of exploration activity, accounting for
The new license authorizes Coro to transmit currency, monetary value, or payment instruments within the State of Nevada, as well as from Nevada to other jurisdictions. The licensure approval required implementing a rigorous compliance program and developing an advanced AML/KYC onboarding and monitoring system for anti-money laundering compliance, as well as a strict financial audit process.
Coro is now licensed in 29 U.S. states and the District of Columbia and intends to expand the availability of its gold payment app across the country over the course of 2021. International expansion is also in the works with Mexico and Canada next.
CORO App is currently available in the Apple App and Google Play stores to residents of Alabama, Alaska, Arkansas, Arizona, Delaware, Idaho, Illinois, Iowa, Florida, Georgia, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Virginia, Washington, Washington D.C., Wisconsin.
Coro Global CEO, Mr. David Dorr stated: “Coro is excited to announce the granting of yet another money transmitter license, this time in Nevada. This brings us one step closer to furthering our mission of democratizing access to gold in the U.S. and internationally. Over the past century, hundreds of fiat currencies have had their values wiped out. I believe that the dangerous consequences of the enormous money printing going on right now are bringing forth a perfect financial storm that will affect everyone. Gold is the world’s oldest form of money and it has historically survived even the worst recessions. Gold is the real insurance policy that everyone should have in times of crisis. With CORO, we offer a way for people to protect their individual wealth against financial instability and inflation by using gold in their daily lives.”
About Coro Global Inc.
Coro Global Inc. is a Miami, Florida-based fintech company that is creating a new financial payment system where gold can be used as money in everyday transactions as easily as fiat currencies. Coro's platform is powered by cutting-edge Distributed Ledger Technology, allowing customers to send and receive global payments and exchange currency, including gold, seamlessly and securely.
Cautionary Note Regarding Forward-Looking Statements
Matters discussed in this press release contain forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology, and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law.
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