Ryvyl Inc - RVYL STOCK NEWS

RYVYL Inc. (NASDAQ: RVYL) has announced a strategic partnership with Intercash to facilitate card issuance for customers in the European Economic Area (EEA). This collaboration allows businesses to provide co-branded debit and prepaid cards through RYVYL's new Banking-as-a-Service (BaaS) platform. Intercash, a leader in customizable payment solutions, has migrated over 50,000 cards to RYVYL's program, with plans for further migration. The partnership enhances RYVYL's banking infrastructure, enabling near-real-time payments across currencies with lower fees and improved security. The company anticipates processing over $100 million in monthly transaction volume once fully operational. This agreement showcases RYVYL's success in signing international financial institutions as clients.

RYVYL Inc. (NASDAQ: RVYL) announced its participation in the Sequire Investor Summit from April 24-26, 2023, at La Concha Resort, San Juan, Puerto Rico. This summit offers extensive training sessions and keynote panels focusing on the latest trends in the financial industry. RYVYL's Chairman, Ben Errez, will present on April 25 at 3:30 PM AST and will be available for one-on-one meetings with attendees. The company utilizes blockchain technology and USD-pegged stablecoins for secure payment transactions, enhancing data privacy and speed. Since its inception in 2017, RYVYL has developed a comprehensive suite of financial products aimed at revolutionizing transaction processes worldwide.

RYVYL Inc. (NASDAQ: RVYL) reported record full-year revenues of $32.9 million, a 33% increase from 2021, with annual processing volume reaching $3.6 billion, up 83% year-over-year. The fourth quarter saw revenues of $11.1 million, a 56% growth compared to Q4 2021. The company's international payments and FX business generated over $1 billion in volume. Despite this growth, RYVYL recorded a net loss of $49.2 million for the year, primarily due to increased operating expenses, including a $14 million impairment charge. RYVYL is optimistic about 2023, forecasting a transaction volume of $6 billion and anticipated revenues of $60 million, alongside a positive adjusted EBITDA of $4 million.

RYVYL Inc. (NASDAQ: RVYL) will announce its financial results for Q4 and full year 2022 on April 17, 2023. A conference call to discuss these results and the company's plans for 2023 will be held at 4:30 p.m. Eastern Time on the same day. Investors are encouraged to submit questions in advance. RYVYL leverages blockchain security and stablecoin technology for payment transactions. The company aims to enhance data privacy and speed in financial transactions through its coyni® stablecoin platform, developed since its inception in 2017 as GreenBox POS. RYVYL has created a suite of financial products designed for various transaction needs, providing significant security and efficiency. The results of this call and the financial disclosures are pivotal for investors evaluating RYVYL's market trajectory.

RYVYL Inc. (NASDAQ: RVYL) has announced a spin-off plan for its subsidiary, coyni inc., which focuses on stablecoin technology. This strategy aims to enhance shareholder value by allowing both RYVYL and coyni to focus on their unique operational goals. The anticipated spin-off will involve a special dividend for shareholders and is expected to create a publicly traded entity centered on coyni, which offers a U.S.-dollar backed stablecoin with near real-time transaction capabilities. The management believes this move will establish coyni as a leading stablecoin in the digital payments market. Further details will be provided in the upcoming financial results conference call.

RYVYL Inc. (NASDAQ: RVYL) has reported significant growth in its innovative Banking-as-a-Service (BaaS) solution, securing partnerships with six global financial institutions expected to process over $100 million monthly when fully operational. Key partners include industry leaders like Paydek and Xace. RYVYL's BaaS infrastructure meets the rising demand for efficient, cost-effective financial services in response to recent bank failures. The platform provides API integrations, supports transactions in over 40 currencies, and operates around the clock on business days, enhancing compliance and fraud prevention. By year-end, RYVYL aims to expand its global payment capabilities to over 100 local currencies. This growth positions RYVYL as a major player in the rapidly evolving financial technology landscape.

RYVYL Inc. (NASDAQ: RVYL) announced it has no exposure to Silicon Valley Bank or Signature Bank. Despite past deposits with Signature Bank, the company has moved its operations to other banks. RYVYL did not hold deposits with SVB, ensuring its operations remain unaffected by SVB's closure. The company highlights that SVB's collapse showcases the superiority of its coyni technology over traditional digital payment systems, emphasizing transparency, stability, and security. RYVYL continues to innovate in the payment technology sector, aiming to redefine financial transactions with its blockchain solutions.