Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt:IJA2) (the "Company") is pleased to announce that it plans to release three new verticals, RevoluEX, RevoluTRANSFER, and RevoluPOS. The Company further provides a corporate update.
RevoluEX is a digital currency exchange (DCE) allowing RevoluPAY app users to covert +100 major cryptocurrencies, including BTC, ETH, LTC, USDC, USDT, GUSD, PAX & PAXG into Fiat money for instant deposit into their RevoluPAY E-Wallet, and then use that money at over 53M VISA Merchants and +100M ATMs worldwide via their RevoluPAY VISA Card. Since major financial institutions are increasingly embracing cryptocurrencies, the Company has decided to move ahead with the plans previously unveiled to shareholders in early 2018. Shareholders should note that RevoluEX is a unidirectional Crypto to Fiat platform. Neither RevoluGROUP nor any of its subsidiaries permit the purchase, trading, or exchange of cryptocurrencies. All unidirectional cryptocurrency conversions to Fiat are processed by an internationally compliant digital currency exchange (DCE). Only the resulting Fiat currency proceeds are remitted to RevoluPAY by the DCE for the final credit to the registered RevoluPAY app user. The Company plans to speedily launch RevoluEX in Q4 2020.
RevoluTRANSFER is an online money transfer service that allows customers to send money abroad at low FX rates in up to 50 different currencies. Contrary to traditional exchange services and banks, RevoluTRANSFER enables users with a market-leading advantage. RevoluTRANSFER provides essential support for the RevoluREALTY and RevoluFIN platforms. The Company plans to expedite the launch of RevoluTRANSFER in Q4 2020.
RevoluPOS is a POS ("Point of Sale") platform linked to RevoluPAY available for free on Apple & Android devices, enabling anyone to accept digital payments worldwide. Designed primarily to bring the developing world into the 21st century, RevoluPOS also appeals to small businesses in developed nations who wish to diversify payment acceptance. RevoluGROUP has identified a burgeoning and untapped sector consisting of small to medium-sized businesses excluded from the current digital payment cycle. Whether these be tiny market-stall traders in underdeveloped nations, a corner coffee shop on Mainstreet, or village convenience stores, many small business owners cannot obtain, or local banks are not interested in providing electronic payment mechanisms. As the world races towards a cashless society, especially during the recent COVID pandemic, the means to integrate even the most impoverished into the digital world is now imperative. Previously launched in 2019 and known as "RevoluPAY Merchant," the upgraded and rebranded POS app with the increased functionality is set for launch in Q4 2020.
The Company has accepted the resignation of Mr. Don Mosher as VP of Corporate Communication. We wish Mr. Mosher well in his future endeavors.
The Company has promoted Mr. Daniel (Danny) Hernandez Rodriguez from his role as a member of the RevoluGROUP Advisory Board to the Company's board of directors. Danny's illustrious career includes Co-Founding eSignus, a company involved in cryptocurrency custody and payment solutions for Blockchains. eSignus received an innovation award from Ciberemprende, an incubation program from the Spanish National Cybersecurity Institute (INCIBE). Furthermore, Danny is a banking technology expert specifically focused upon electronic banking, front, and back-office security applications, having been intimately involved in the integration of banking security technology for major Spanish banks: La Caixa (Spain's 3rd largest bank), CajaCanarias, Banca Civica, Sa Nostra, CCM, Caja Murcia, and Infocaja. Danny's impressive academic resume includes; Executive MBA (IE), Advanced Program in Blockchain (EOI), Executive Program in Big Data and Business Analytics (EOI), CGeiT (Certified in the Governance of Enterprise IT), CIA (Certified Internal Auditor), UNED (Postgraduate in financial auditing), Graduate of Business Administration (Fachhochshule Kiel). Danny previously advised the Company regarding RevoluFIN and was active in the launch of RevoluCHARGE , RevolUTILITY , and RevoluEGAME . Danny will be instrumental in implementing the electronic blockchain Cryptocurrency settlement mechanism RevoluEX and Forex platform RevoluTRANSFER.
RevoluMED Revised Release Timeline
Further to the news release dated 16th March 2020 , the Company has made the tough decision to postpone the release of the RevoluMED vertical until Q1 2021. The primary motive for this timeline change is the continued international medical uncertainty surrounding COVID19. RevoluMED was initially revealed to shareholders in October 2019 when the medical community was considering our novel technology to streamline their profession. The assault of COVID19 has meant that these professionals and medical hierarchy are currently indisposed while tending to the current pandemic.
RevoluESPORTS Revised Release Timeline
Further to the news release dated 1st November 2019 , the original concept of this revenue vertical was to penetrate the Global Esports arena, where revenues hit $1.1 billion in 2019 , up 27 percent since 2018. At the time, revenues were ballooning from game credits, advertising, sponsorship, and media rights to competitive video gaming competition sports via mobile and console video games. Esports tournaments were a significant factor in the video game industry and, the Company was gearing RevoluPAY toward this professional Esports subculture. The ability of such events to continue in their previous format is severely hindered because of COVID19. The Company is in the process of pivoting RevoluESPORTS towards subscription-based televised events and will update shareholders shortly in this regard. As a result, the reconfigured RevoluESPORTS platform's planned release is now planned for Q2 2021. The Company has switched its focus towards more pressing matters, including those verticals cited in the current news release considered in far greater demand during the pandemic.
Links Used in This News Release
The Company's flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the property of the Company. RevoluPAY built-in features include Remittance Payments, 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 is powered by blockchain protocols and is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L is the self-licensed European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 and 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 the; 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 166,414,015 shares issued and outstanding.
RevoluGROUP Canada, Inc.
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RevoluGROUP Canada Inc.
Telephone: (604) 685-6465
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.