RYVYL (NASDAQ: RVYL), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for the diverse international markets, is reporting on its financial results for the second quarter of 2024, or the period ended June 30, 2024. The report noted that the company’s new private and white-label licensing is expected to attract new customers, lower certain processing costs and operational risks, and expand gross margins. The company anticipates that its latest Gen 4 software offers businesses and merchants highly customizable, advanced and efficient fintech payment solutions.
“RYVYL delivered second-quarter 2024 revenue in line with expectations, as lower revenue in North America was partially offset by revenue generated from international operations, which grew 134% year-over-year,” said RYVYL cofounder and CEO Fredi Nisan in the press release. “During the second quarter, we aligned our U.S. operations to manage the impact of banking regulations affecting certain niche customer bases, which we believe is largely behind us. To rebuild that business and expand into new verticals, we extended a longstanding U.S. banking relationship to include high-risk processing and are launching private and white label licensing solutions. As a result, we are growing our pipeline in sectors like insurance and online businesses and are aggressively pursuing multiple prospects.”
To view the full press release, visit https://ibn.fm/hCxrS
About RYVYL Inc.
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging proprietary blockchain ledger and electronic token technology for the diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity-theft protection and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information about the company, please visit www.RYVYL.com.
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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