RevoluGROUP Canada Inc. (TSX-V: REVO, Forum) announced on Tuesday that it will work with Coello & Company to solicit 28 state-issued Money Service Business licenses to permit the Company’s proprietary RevoluPAY App and Visa Card to operate with funds originating from these states.
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The multi-asset Canadian Company recently gave an update to shareholders on its business regarding its PSD2 bank license. The Company submitted its security analysis and software system compliance certifications from Abast and Amazon Web Services AWS, under full security compliance with external datacenter providers. Hogan Lovells provided RevoluPAY SL with a written PSD2 license approval update and stated that the approvals of the other departments have been gathered, only this review and approval of the RevoluPAY systems is pending. If no additional information is requested, Hogan Lovells’ corporate attorneys expect to receive approval on this matter in three weeks.
FULL DISCLOSURE: RevoluGROUP Canada Inc. is a client of Stockhouse Publishing.