Coro Global Inc. announced its subsidiary Coro Corp. has been granted a Money Transmitter license by the State of Mississippi’s Department of Banking and Consumer Finance.
As a result, Mississippi residents will have access to CORO – a payment app that allows customers to exchange, send and save gold and U.S. dollars easily and securely.
Read More: Corporate Spending Innovations Formally Launches as an Automated Payment Provider of SAP Concur
CORO is now available in the Apple App and Google Play stores to residents of Florida, Alabama, Arizona, Arkansas, Alaska, D.C., Delaware, Idaho, Massachusetts, Mississippi, Montana, Oregon, South Carolina, Washington State and Wisconsin. The company intends to release CORO in additional U.S. states over the coming months.
Mississippi is one of the most economically challenged states in the country, and the company believes the state’s structural poverty and lack of access to healthcare puts its residents at greater risk of suffering during the pandemic. The company believes Mississippi residents would benefit from secure ways of taking control of their savings. Gold – the world’s oldest and most resilient form of money – has thrived despite the current economic turmoil. CORO democratizes access to gold, allowing people to save in a way that was not as easily accessible before.
“People may not know that gold can be used legally as money, or how to make it a part of their day-to-day transactions,” said J. Mark Goode, CEO of Coro Global Inc. “That’s why we’ve made it as easy as downloading an app.”
Read More: DRC Enters Gartner Magic Quadrant for P&C Core Platforms
The approved Mississippi license authorizes Coro to transmit currency, monetary value, or payment instruments within Mississippi, as well as from the state to other jurisdictions. To obtain the license approvals, Coro was required to implement a rigorous compliance program and develop an advanced AML/KYC onboarding and monitoring system for anti-money laundering compliance, as well as a strict financial audit process.
For Coro, ensuring the security of customers’ money and personal data has always been a priority. That is why the CORO app runs on the state-of-the-art hashgraph distributed ledger technology (DLT) to protect against cyberattacks and operate at revolutionary speeds.
The gold in customers’ digital wallets will always be matched by physical gold held in a secure safe, insured and verified by the world leader in precious metals trading Dillon Gage.
Read More: Solovis Launches New Risk Analytics Platform Designed for Asset Owners and Allocators
