NEW YORK / SAN DIEGO, Dec. 14, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) and R3, a leading provider of enterprise distributed ledger technology (“DLT”) software and services for the financial services sector, proudly announce their collaboration to offer businesses a groundbreaking Blockchain-as-a-Service solution that enables streamlined and secure digital transformation.
R3 is a pioneer in blockchain technology, known for its flagship platform Corda that was built from the ‘ground up’ for regulated markets, to enable an open, trusted, and enduring digital economy where value is securely exchanged. The collaboration between RYVYL and R3 marks the arrival of a leading-edge Blockchain-as-a-Service platform, “RYVYL Block”, designed to be an innovative and cost-effective solution, simplifying the adoption of blockchain technology for businesses in banking, payments, and high-volume processing environments. RYVYL Block is designed to streamline blockchain integration, offering business customers effortless access to the essential tools and building blocks required to develop a secure distributed ledger infrastructure – featuring rich business APIs and rapid implementation.
This partnership between RYVYL and R3 aims to provide a scalable platform that can adapt to diverse business needs, providing flexibility for seamless expansion and growth. The project will leverage RYVYL's expertise in digital solutions and R3's cutting-edge blockchain technology to ensure smooth integration into existing business frameworks. The goal is to simplify and expedite the adoption process of blockchain for businesses of all sizes, delivering a user-friendly experience. RYVYL and R3 are committed to delivering a cost-effective Blockchain-as-a-Service solution, eliminating significant upfront investments and reducing complexities typically associated with blockchain adoption.
"We're excited about the prospects our partnership unlocks for businesses seeking agile and secure blockchain solutions," said Fredi Nisan, co-founder and CEO of RYVYL. "By merging RYVYL's expertise with R3's leading distributed ledger technology, we're setting a new standard for accessible, secure, and transformative blockchain services."
“R3 has extensive international experience working with regulated institutions across the financial sector. We look forward to partnering with RYVYL to bring the benefits of DLT to businesses of all sizes, enabling them to harness the power of Corda to ensure transparency and security of transactions in an efficient and cost effective manner,” comments David E. Rutter, CEO, and Founder at R3.
About RYVYL
RYVYL Inc. (NASDAQ: RVYL) Revolutionizing Global Payments: Our leading-edge blockchain ledger-based platform offers a seamless and secure payment experience tailored for the diverse and ever-evolving global market. By harnessing the power of blockchain technology, we ensure unparalleled security, transparency, and immutability in all transactions. Our commitment to simplicity guarantees a user-friendly interface accessible to everyone, while robust compliance measures instill trust and confidence across borders and regulatory landscapes.
For more information, visit www.ryvyl.com.
About R3
R3 is a leading provider of enterprise distributed ledger technology (DLT) and services that enable the secure exchange of value in regulated industries where trust is critical. Distributed solutions developed on our platform Corda harness the "Power of 3"--R3's distributed ledger technology, connected networks and regulated markets expertise--to drive transformation in digital finance.
As one of the first private, permissioned distributed ledger application platforms, R3's Corda empowers regulated institutions to realize the full potential of direct digital collaboration to solve complex multi-party workflows. We maintain one of the largest DLT ecosystems in the world connecting over 400 institutions, including global systems integrators, cloud providers, technology firms, software vendors, corporations, regulators, and financial services firms from the public and private sectors. For more information, visit www.r3.com or connect with us on Twitter or LinkedIn.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
RVYL@mzgroup.us
www.mzgroup.us
