VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that on the 11th of June 2021, it received notification from (NYSE: PNC) PNC Financial Services Group, Inc. (Hereinafter "PNC.") concerning the continuation of the commercial relationship with RevoluPAY EP S.L. subsequent to the regulatory approved PNC acquisition of BBVA USA. The Company further provides a corporate update.
PNC is one of the largest banks in the United States by assets. It is the 4th largest bank by the number of branches, surpassing Suntrust (Truist) Bank since the BBVA USA acquisition. In addition, it is 6th largest by deposits and 4th largest in number of ATM.s. On June 1st, 2021, its merger with BBVA USA closed, and it became the 7th largest U.S bank by assets. PNC Bank offers consumer and business banking services via 2,945 branches in Alabama, Arizona, California, Colorado, Delaware, the District of Columbia, Florida, Georgia, Kentucky, Indiana, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, & Wisconsin.
Company CEO Steve Marshall commented: "We are excited about our future relationship with our new partners PNC. Our U.S subsidiary RevoluGROUP U.S.A. Inc. has been preparing to take full advantage of this synergy since news broke concerning the possible acquisition of our partner BBVA USA late last year. While business begins immediately with PNC, we further expect that the eventual regulatory approval of our pending U.S financial license should greatly enhance this partnership, both fomenting and cultivating our relationship with PNC towards broader horizons. In the meantime, RevoluPAY is adapting the BBVA USA legacy-linked financial systems to the now amplified PNC U.S coverage that this contractual partnership has provided. RevoluPAY services are unaffected throughout this technical transition. I want to remind shareholders that all other agreements with BBVA worldwide remain active and are unaffected by the disposition of their U.S subsidiary BBVA USA. In my view, we have gained a huge U.S partner while maintaining international exposure through BBVA. "
MSB License USA
Further to the news release dated the 1st of June 2021, the Company is pleased to announce that CEO Steve Marshall attended the Florida Department of Law Enforcement (FDLE) office to capture biometrics and fingerprint live-scan. Said data was successfully uploaded to the FDLE's encrypted system. Since FDLE approval was the only remaining requisite, the Company expects to receive word from the Floridian Financial Regulator concerning the pending financial license shortly.
RevoluGROUP USA Inc. New Corporate Headquarters
The Company is pleased to announce that the wholly-owned subsidiary RevoluGROUP U.S.A. Inc. entered into a new office lease on the 4th of June 2021. The larger and more centrally located offices in the Financial District of Miami, 444 Brickell Avenue, have been leased to prepare for the commencement of financial activities related to the planned enhanced synergy with PNC allied to the MSB ("Money Service Business") currently awaiting Floridian Financial Regulator approval.
Bitcoin 2021 Miami
Company CEO Steve Marshall attended the world's largest Bitcoin event held in Miami, Florida, between June 4th and 5th. Featuring prominently at the event were the proposed plans for El Salvador to introduce a bill to make Bitcoin legal tender, allied to the Mayor of Miami, Francis Xavier Suarez, plans to allow many of the city's services and taxes to be paid in CryptoCurrency. Additionally, the Company's proprietary Crytpo to Fiat platform RevoluEX was widely embraced, with numerous supplementary Digital Currency Exchange ("DCE") partner synergies tentatively emerging from the principally decentralized finance-focused encounters.
Top Tier Card Issuer Negotiations
Further to the news release dated the 1st of June 2021, the Company is pleased to announce that negotiations with one of the world's top four payment card issuers have intensified. As previously stated, the relationship could allow RevoluPAY to issue a new multicurrency payment card supplanting the current Euro-based RevoluPAY debit card. In addition, talks include an eventual liaison with various previously announced DCE partners, in which RevoluPAY would be the principally licensed card issuing party. RevoluPAY could also be authorized to administer and manage all financial matters for internationally branded cards issued to third parties. These negotiations remain subject to a binding non-disclosure agreement ("NDA"). The Company expects a final deal to be inked in short order.
RevoluSEND Increased Country Integration
The Company is pleased to announce that the following countries were activated for bilateral remittance flows through RevoluSEND on 7th June 2021: Australia, Chile, Ethiopia, Malawi, Myanmar, Singapore, Somalia, South Korea, Sri Lanka, and Vietnam.
Management COVID19 Vaccinated
The Company wishes to advise shareholders that all executive Directors and most senior staff have been successfully vaccinated against the global pandemic known as COVID19. In addition, CEO Steve Marshall, having contracted COVID19 in February 2020, testing positively for natural anti-bodies, has further received Pfizer shots to obtain the more internationally recognized sanitary passport allied to vaccinations, including the recently introduced EU sanitary passport. Mr. Marshall has thus rescheduled his trip to the United Kingdom to commence early July with numerous planned meetings with certain financial institutions located in the London Financial Center of Canary Wharf. Since prospects for travel under the new vaccinated rules seem promising, Mr. Marshall expects to recommence international televised media appearances in the fall.
Links Used in this News Release.
The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY employs blockchain protocols and is squarely aimed at the worldwide multi-billion dollar Open Banking sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with EU Passporting. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 175,180,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
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RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.