RYVYL (NASDAQ: RVYL), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, today announced that it has no exposure to Silicon Valley Bank (“SVB”) and Signature Bank. Although the company had deposits in the past with Signature Bank of NY, it has recently moved its entire ecosystem to other banks. In addition, the company never held deposits or otherwise collaborated with SVB, and therefore, RYVYL’s operations as a company are unaffected by SVB’s closure. RYVYL believes SVB’s collapse further demonstrates that its coyni technology is superior to other digital payment structures with its USD-pegged architecture, transparency, stability and security.
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About RYVYL Inc.
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging unique blockchain security and USD-pegged stablecoin technology with near real-time attestation, RYVYL is reinventing the future of financial transactions using its coyni(R) stablecoin platform as a transactional foundation. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information, visit www.RYVYL.com
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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