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 the engagement of Kingswood, a division of Kingswood Capital Partners. According to the update, Kingswood will serve as the company’s placement agent and advisor in connection with the planned spin-off of coyni, a wholly owned subsidiary of RYVYL, and subsequent public offering. The planned, approximately $40 million offering with a NASDAQ uplisting is based on an estimated valuation of $200 million for coyni’s assets and merging of other revenue sources. RYVYL has not obtained an independent third-party valuation of coyni. The company is evaluating additional details regarding the spin-off and offering and will provide further information when available.
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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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