CUV Ventures Corp. (TSX-V: CUV)
(the “Company”) is pleased to announce that it received final
Panamanian government and, mercantile registry approval, under
resolution Nº 755000, dated September 24th 2018, for the wholly
owned subsidiary RevoluFIN Inc. RevoluPAY® S.L. receives publisher
approval from Apple and, uploads RevoluPAY® app to App Store.
BonSOFT elected for the complete development and, turnkey delivery,
of RevoluCHARGE, on or before 1st November 2018. Preeminent Fintech
law firm Hogan Lovells formally retained to solicit RevoluPAY®
Proprietary European banking license. The company provides further
RevoluPAY® updates.
RevoluFIN Inc.
RevoluFIN obtained its initial seed capital
guarantee of up to 40 million Euros (approx 61 million CAD) on the
8th of March 2018 from Vesilen Investments. The now fully approved
Panamanian subsidiary will be involved in certain aspects of the
RevoluFIN lending platform, guaranteeing, through its banking
partners, fiduciary and, other services, to lending partners.
Panama has the most modern and, successful, international banking
center in Latin America, with more than 85 banks from 35 countries.
The company is in final negotiations with local officials to
physically locate RevoluFIN inc. at the Cuidad del Saber (City of
Knowledge), which is especially suited to technology and finance
companies. RevoluFIN has received and studied numerous financing
requests, which will be immediately approved in the very near
future.
RevoluPAY® On iOS Apple
Wholly owned European subsidiary RevoluPAY® S.L
received app publisher approval from Apple and, has uploaded the
RevoluPAY® iOS app to App Store for final approval. The final
approval process is known to take, on average, between 1 and 7
days.
Hogan Lovells retained for European EP
Banking License
Wholly owned subsidiary RevoluPAY® S.L. has
retained acclaimed law firm Hogan Lovells on Sept 26th 2018 to
prepare the; legal opinion, compliance and, formal petition of the
company’s proprietary EP banking license. The estimated time for
the license to be granted is 3-5 months. Hogan Lovells is
recognized as a leader in European Fintech law. Until the
proprietary license is awarded, the company’s proprietary
RevoluPAY® app operates under indefinite agreement with its current
EDE Banking licensed partner.
RevoluPAY® European Cash-Out
Disbursement Update
As stated in the news release dated 24th Sept
2018, the company successfully released version 1.0.8 of the
proprietary RevoluPAY® app, which incorporates a cash-out
(disbursement) facility to any bank located in the European Union.
RevoluPAY® users have been able to add (load) money to the
RevoluPAY® e-wallet since 31st July 2018 and, transfer these funds
nationally or, internationally, to other users with a RevoluPAY®
e-wallet. From today, any user can instantaneously transfer part,
or all, of their e-wallet funds to a bank account, at any bank,
within the EU. These trials have proved successful and will now go
live. RevoluPAY® Version 1.0.8 is the iteration that has been
submitted to Apple, thus, the same functionality will be available
on both Android and iOS.
RevoluCHARGE Development &
Launch
The company has chosen Spain based BonSOFT for
the complete development and launch of RevoluCHARGE worldwide, on
or before 1st November 2018. The company’s upcoming RevoluCHARGE
division, a branched vertical from RevoluPAY®, will allow anyone in
the world to send; minute, sms and, data credits, to family and
friends internationally, with payments exclusively through the
company’s proprietary payment app RevoluPAY® and, a forthcoming
“Powered by RevoluPAY®” autonomous RevoluCHARGE App. The company
considers the approximately $8 Billion USD annual mobile top-up
market the perfect complimentary service, in combination with
worldwide remittances and payments, through RevoluPAY®.
Alternative Worldwide Cash-Out
Operability
Wholly owned subsidiary RevoluPAY® S.L is
currently negotiating other forms of cash-out (disbursement) which
include but, are not limited to, an e-wallet linked prepaid Visa
Card, permitting instantaneous transfer of funds to/from the users
RevoluPAY® e-wallet. The company has submitted its card design and,
usability criteria, to the chosen card issuer. An eventual
international visa card would permit withdrawals from any ATM that
accepts Visa worldwide, allied to POS payment at any location that
accepts Visa. This functionality will give an added layer of
usability in those locations where NFC enabled POS devices and
ATMs, for which RevoluPAY® is already enabled, are not yet
operational. A second alternative, currently under negotiation, is
cash-out via NFC and Non NFC enabled ATM´s directly from the app
(card-less withdrawals). Under this system, at non NFC enabled
ATM´s, the user receives a unique code which, when entered into the
ATM´s numeric keyboard, confirms the users presence and, permits
subsequent withdrawal of funds. Lastly, the company signed an NDA
on June 29th 2018 and, continues to negotiate with a large
multinational banking partner for 16 cash-out disbursement
countries in; The Caribbean, South and Central America.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset,
multidivisional publicly traded Canadian company deploying advanced
technologies in the; Online Travel, Vacation Resort, Mobile Apps,
Money Remittance, Invoice factoring, Blockchain Systems, and
Cryptotoken sectors.
Our flagship technology is RevoluPAY®, the Apple
and Android multinational leisure payments and remittance app,
powered by blockchain protocols, and aimed at the worldwide + $595
billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp.
(TSX-V: CUV) visit the Company’s website at www.cuvventures.com.
The Company has approximately 123,200,000 shares issued and
outstanding.
CUV VENTURES CORP.
STEVE MARSHALL______________Steve
MarshallCEO
For further information contact myself or:Nick
FindlerCUV Ventures Corp.Telephone: 604-639-3850Toll Free:
800-567-8181Facsimile: 604-687-3119Email: info@cuvventures.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.
CUV Ventures (TSXV:CUV)
Historical Stock Chart
From Jun 2024 to Jul 2024
CUV Ventures (TSXV:CUV)
Historical Stock Chart
From Jul 2023 to Jul 2024