VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluPAY S.L. has signed a Definitive Agreement ("DA") with HB DIGITAL TECHNOLOGIES HOLDING LIMITED ("HBDT") on December 11th 2020. The DA approved between RevoluPAY EP S.L, and HBDT outlines the integration of the Huobi Digital Currency Exchange ("DCE") into RevoluEX and a reciprocal white-label platform powered by RevoluPAY.
Reciprocal White Label Functionality
Ireland-based HBDT was founded by RevoluGROUP advisor and head of the European expansion of Huobi, Erik A. Lara Riveros, and Carlos Banfi, CEO of Huobi Argentina, to spearhead the initiatives of Huobi Global. The mutual agreement sets the stage for a bilateral white-label of the RevoluPAY payment platform to be rolled out initially within the E.U. to Huobi customers and a synergetic platform deployed on RevoluEX for worldwide RevoluPAY customers. The creation of the platform is a joint effort between the parties. Neither RevoluGROUP nor any of its subsidiaries permit the purchase, trading, or exchange of cryptocurrencies. Huobi, an internationally compliant DCE, processes all bidirectional cryptocurrency conversions. Only the consequential Fiat currency flows are processed by RevoluPAY for the DCE affiliates, either for final credit to the registered RevoluPAY app user or, in a reciprocal manner, for eventual Huobi affiliate users. The Company expects RevoluEX and the RevoluPAY white-label to launch on schedule before year-end.
About Huobi
Huobi Global is a crypto-asset exchange founded in 2013 and located in Singapore. Their daily transaction volume regularly surpasses $15B. Huobi has 854 markets, with the most popular (trading pairs) being BTC/USD, ETH/USD, and BTC/USDT. Huobi Global accounts for approximately 14% of the total volume in the cryptosphere. Having once accounted for half of the world's digital asset transactions, Huobi now serves more than 5 million users in over 130 countries worldwide.
CryptoCurrency Integration
The Neobanking functionality of RevoluPAY continues to evolve into a modern financial hub, embracing current trends in cryptocurrency through one of the world's most prominent DCE affiliates. The white-label of RevoluPAY to handle payment flows for this and other financial sectors should engender shareholder value while resolving specific requirements in this multibillion-dollar daily transactional phenomenon.
Option and Warrant Exercise
Due to the exercising of employee incentive stock options and warrants, the Company has received a capital influx into treasury totaling CA$ 263,150
Links Used in This News Release
Huobi https://www.huobi.com/
Huobi Wallet https://www.huobiwallet.com/
Huobi Daily Transactions https://nomics.com/exchanges/huobipro-huobi-global
Huobi 5m users https://shortly.cc/UB8bB
About RevoluPAY®
The Company's flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the property of the Company. RevoluPAY built-in features include Remittance Payments, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY is powered by blockchain protocols and is squarely aimed at the worldwide multibillion-dollar leisure sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L is the self-licensed European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 and EU Passporting. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in the; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 168,975,635 shares issued and outstanding.
RevoluGROUP Canada, Inc.
"Steve Marshall"
______________________
STEVE MARSHALL
CEO
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
Email: info@revolugroup.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.