FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Errez Ben
2. Issuer Name and Ticker or Trading Symbol

RYVYL Inc. [ RVYL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairman of Board of Directors
(Last)          (First)          (Middle)

3131 CAMINO DEL RIO NORTH, SUITE 1400
3. Date of Earliest Transaction (MM/DD/YYYY)

11/4/2020
(Street)

SAN DIEGO, CA 92108
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

12/28/2020 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock par value $0.001 11/4/2020  M  500000 (1)A$0.065 125235244 D  
Common Stock par value $0.001 11/4/2020  F  52420 (1)D$0.065 125182824 D  
Common Stock par value $0.001 11/25/2020  S  52083 D$0.48 125130741 D  
Common Stock par value $0.001 2/12/2021  D  1800000 (2)D$2.33 123830741 I GreenBox POS LLC (3)
Common Stock par value $0.001 1/5/2021  G  10000 D$0.00 123820741 D  
Common Stock par value $0.001 2/12/2021  S  192000 D$1.30 123628741 (4)D  
Common Stock par value $0.001 3/15/2021  A  389 (6)A$12.84 20605179 D  
Common Stock par value $0.001 4/15/2021  A  495 (6)A$10.10 20605674 D  
Common Stock par value $0.001 5/15/2021  A  542 (6)A$9.22 20606216 D  
Common Stock par value $0.001 6/15/2021  A  343 (6)A$14.60 20609564 D  
Common Stock par value $0.001 7/15/2021  A  482 (6)A$10.37 20610046 D  
Common Stock par value $0.001 8/15/2021  A  647 (6)A$7.73 20610693 D  
Common Stock par value $0.001 9/15/2021  A  496 (6)A$10.09 20611189 D  
Common Stock par value $0.001 10/15/2021  A  659 (6)A$7.59 20611848 D  
Common Stock par value $0.001 (7)11/24/2021  D  1000000 D$5.59 19611848 I GreenBox POS LLC 
Common Stock par value $0.001 (8)1/20/2022  A  758 A$6.60 19612606 D  
Common Stock par value $0.001 1/20/2022  A  1008 A$4.96 19613614 D  
Common Stock par value $0.001 (9)1/27/2022  A  3513 A$4.27 19617127 D  
Common Stock par value $0.001 (10)3/15/2022  A  1481 A$2.43 19618608 D  
Common Stock par value $0.001 (11)4/27/2022  A  3354 A$3.40 19630146 D  
Common Stock par value $0.001 (12)7/22/2022  A  15152 A$2.12 19645298 D  
Common Stock par value $0.001 (13)7/22/2021  A  17646 A$0.85 19662944 D  
Common Stock par value $0.001 (14)8/16/2022  A  53149 A$1.27 19716093 D  
Common Stock par value $0.001 (7)10/3/2022  D  1000000 D$0.82 18716093 I GreenBox POS LLC 
Common Stock par value $0.001 (15)10/17/2022  A  14283 A$1.05 18730376 D  
Common Stock par value $0.001 (16)10/27/2022  F  144 D$0.94 18730232 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (1)$0.065 11/4/2020  M     500000  6/24/2020 6/24/2025 Common Stock, par value $0.001 500000 $0 0 D  
Stock Options $1.01 12/1/2020  A   500000    12/1/2020 6/1/2026 Common Stock, par value $0.001 500000 $0 500000 (5)D  
Stock Options $13.31 6/2/2021  A   3005    6/2/2021 6/1/2026 Common Stock, par value $0.001 3005 $0 86338 D  
Stock Options $3.66 4/13/2022  A   8184    10/13/2022 10/13/2027 Common Stock, par value $0.001 8184 $0 94522 D  

Explanation of Responses:
(1) Mr. Errez did a cashless exercise of his 500,000 stock options granted on 6/24/2020, 52,420 of which were used to pay the exercise price.
(2) The reporting party indirectly sold 1.8 million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.
(3) The reporting person serves as a managing member of GreenBox POS LLC.
(4) The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Errez's 123,628,741 shares of common stock became 20,604,790 shares of common stock.
(5) The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Errez's 500,000 stock options became 83,333 stock options.
(6) Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day.
(7) The reporting person indirectly sold one million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.
(8) Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day. The issuances for November and December 2021 were delayed and consolidated in one issuance.
(9) On January 27, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 3,513 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest immediately upon issuance, an additional 1/3 of the shares shall vest each month thereafter, and all shares vest fully on March 15, 2022.
(10) Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day. As part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted shares valued at $3,600 in a March issuance that will be applied against Q2 issuances.
(11) On April 27th 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 3,354 shares of common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted shall vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on December 15, 2022.
(12) Mr. Errez was granted 15,152 shares for his 2021 performance review in accordance with the 2021 Restricted Stock Plan.
(13) On July 15th, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 17,646 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on March 15th, 2023.
(14) The Board of Directors approved a $67,500 raise in compensation for Mr. Errez for the remainder of the 2022 calendar year. Per the approval of the Board of Directors, Mr. Errez elected to receive this amount in shares of Common Stock in lieu of cash.
(15) On October 17, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 14,283 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on June 14, 2023.
(16) Represents withholding of shares of common stock for the tax liability associated with the vesting of 1/3 of the registered shares granted on April 27, 2022.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Errez Ben
3131 CAMINO DEL RIO NORTH
SUITE 1400
SAN DIEGO, CA 92108
XXChairman of Board of Directors

Signatures
/s/ Ben Errez12/20/2022
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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