Banking Cryptocurrency News

RevoluGROUP Canada Inc. Granted Central Bank Cryptocurrency EU Registry Inscription

RevoluGROUP Canada Inc. Granted Central Bank Cryptocurrency EU Registry Inscription

RevoluGROUP Canada Inc. is pleased to announce that on the 3rd of August 2022 the Central Bank officially granted the Company Inscription approval as one of Europe’s first authorized Crypto Stored Value and Crypto Trading entities. The approval is awarded at a time when EU regulators mandated sweeping DCE and Crypto regulations in July 2022. The Central Bank’s focus with registry Inscriptions is to ensure categoric compliance with all international provisions of AML criteria, as well as the prevention of money laundering and the financing of terrorism. The Company’s RevoluEX platform has demonstrated that, even before the now mandated KYC and AML requirements, it preemptively adhered to and complied with every regulatory facet, resulting in today’s approval.

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First Mover Status Established

To the Company’s knowledge, RevoluPAY is the first Pan-European 27-country licensed financial institution to equally obtain the Central Bank Crypto Stored Value and Crypto Trading Registration in compliance with legally binding Pan-European MiCA regulations. From today the unique combined ability of RevoluPAY to transact as both the licensed Sovereign Currency (FiAT) financial institution and Central Bank recognized crypto operator is expected to garner substantial attention in a Crypto industry that peaked at USD 2.9 trillion in November 2021. Time is running out for DCEs, since the EU Commission granted the European Securities and Markets Authority (“ESMA”) new and far-reaching powers to systematically ban, outright and overnight, any non-compliant actor in the crypto sphere. As of today’s news, any DCE wishing to comply with any and all current regulations immediately need merely either white-label the Company’s RevoluEX technology or, through a contractual agreement, transit all transactions through the Company’s financial banking licenses uniquely boasting the additional Crypto Stored Value and Crypto Trading approved Registration ensuring complete end-to-end compliance.

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The Scope of Today’s Crypto Regulatory Milestone

Many DCE crypto giants urgently seek to maintain growth while gaining obligated regulatory legitimacy amid fears of real and present global regulation. RevoluPAY now provides a venerable regulatory solution for DCEs to remain entirely compliant on all sides of an eventual crypto trade. Namely, the bilateral Fiat currency component, KYC (“Know Your Customer”), and AML (“Anti-Money Laundering”) plus the Stored Value and Crypto Trading elements. Furthermore, the Company’s proprietary RevoluEX technology is plug-and-play, having accomplished all facets of API integration, allowing a rapid turn-key solution. RevoluEX is available as an API incorporated into current DCE platforms or stand-alone white-label deployment under any brand or DCE logo described in the recent Market Herald article. Further unique international regulatory benefits available to DCE partners are the RevoluPAY United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 financial abilities native to our financial technology. Furthermore, yesterday’s launch of RevoluTRANSFER now permits future DCE partners to transact bilaterally as on/off ramp up to 3 million USD for a single transaction.

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