08:02:39 EDT Thu 25 Apr 2024
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Revolugroup boasts of international expansion

2023-01-23 14:09 ET - News Release

Mr. Steve Marshall reports

REVOLUGROUP CANADA INC. REVOLUSEND AND REVOLUTRANSFER CONTINUED INTERNATIONAL EXPANSION

Revolugroup Canada Inc. continues its aggressive international expansion with RevoluSend now serving 133 countries and RevoluTransfer 103. Both platforms further incorporated 252 additional financial transaction alternatives, notably in certain countries the ability to originate or send finances in alternative currencies such as United States dollar, Canadian dollar and British pound sterling, previously restricted to only the euro. Further enhancements include the deployment of SEPA Instant across both platforms.

RevoluTransfer international expansion

On Aug. 22, 2022, the company launched the RevoluTransfer revenue vertical permitting instant worldwide transfers to 76 countries of up to three million euros or the foreign currency equivalent. The company today adds 27 countries to the world's most competitive transactional platform, including Kazakhstan, Argentina, Australia, Chile, Cameroon, Colombia, Cape Verde, Guadeloupe, French Guiana, Hong Kong, India, Japan, South Korea, Mexico, Mali, Mozambique, Martinique, Malaysia, New Caledonia, New Zealand, Peru, Reunion, Senegal, Singapore, Saint Pierre and Miquelon, Thailand and Uruguay.

RevoluSend international expansion

Equally, RevoluSend geographical coverage increases from 120 to 133 countries with the addition of India, Angola, Cameroon, Cape Verde, Guadeloupe, French Guiana, Japan, Mali, Mozambique, Martinique, New, Caledonia, New Zealand, and Saint Pierre & Miquelon.

SEPA Instant launched

In September, 2020, the company's wholly owned banking subsidiary European Union financial institution No. 6900, RevoluPay EP SL was granted the Central Bank PSD2 banking addendum of passporting approval from all EU member countries by the EBA (European Banking Authority). Today, the company expands its Pan-European SEPA (single euro payments area) functionality to include SEPA Instant, allowing instantaneously received transfers in euros or local currencies that are executed 24/7/365 and reach the recipient within seconds. SEPA currently has 36 member states: Austria, Belgium, Britain, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Republic of Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain and Sweden. Additionally, the three EEA countries of Norway, Liechtenstein and Iceland. SEPA also incorporates Switzerland and Monaco.

Current status of the equity investment

The company continues to work diligently toward an expedient favorable conclusion to the pending potential share equity acquisition by a European financially regulated entity allied to a United Arab Emirates-based financial consultancy firm. Management will ensure shareholders remain closely informed of the ongoing progress and developments.

About Revolugroup Canada Inc.

Revolugroup Canada is a multiasset, multidivisional, publicly traded Canadian company deploying advanced technologies in banking, mobile apps, money remittance, cross-border forex payments, mobile phone top-ups, e-gaming, health care payments, e-sports, invoice factoring, on-line travel, vacation resort, blockchain systems and financial technology app sectors.

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