- RevoluGROUP (REVO) has signed a business development agreement for a future joint strategy
- Both parties have agreed to a two-year plan that includes the speedy expansion of numerous financial sectors in which the company already has an operational presence, including centralized compliance fulfillment of know your customer and anti-money laundering
- The business development agreement defined a potential share equity acquisition by a European financially regulated entity allied to a UAE-based financial consultancy firm
- RevoluGROUP Canada (REVO) is down 19.30 per cent, trading at $0.23 per share as of 2:55 pm ET
RevoluGROUP (REVO) has signed a business development agreement for a future joint strategy.
Both parties have agreed to a two-year plan that includes, but is not limited to, the speedy expansion of numerous financial sectors in which the company already has an operational presence, including centralized compliance fulfillment of KYC (know your customer) and AML (anti-money laundering) for all adjoined users.
Set to initiate on the day of the eventual equity acquisition, the business development agreement defined a potential share equity acquisition by a European financially regulated entity allied to a UAE-based financial consultancy firm. Under the terms of the agreement, if fruitful, it may result in a change of control as specified in the Securities Act.
Also planned: growth of financial intermediation in various industries, such as financial-on-ramps, virtual asset management and custody, expanded e-commerce, expanded family remittances, payroll services, banking as a service, payment settlements, expanded forex services, and other business avenues. The agreement is also out to obtain additional financial licenses in seven international jurisdictions seeking supplementary jurisdictional financial licensing. The agreement also projects a roadmap to pursue the supplementary affiliate membership statuses of two other major payment instrument providers.
RevoluGROUP Canada deploys advanced technologies in banking, mobile apps, money remittance, cross-border forex payments and blockchain systems, among others.
RevoluGROUP Canada (REVO) is down 19.30 per cent, trading at $0.23 per share as of 2:55 pm ET.