- RevoluGROUP Canada (REVO) has announce that RevoluSEND has started remittances to Cuba and Morocco
- Remittances are available through RevoluSEND and from current and upcoming white-label partners
- The U.S. Department of the Treasury deemed remittances sent via RevoluSEND fall within the scope of permissable transactions to Cuba
- Remittances to Morocco exceeded US$7.4B in 2020
- RevoluPAY supports a wide range of mobile payment options
- RevoluGROUP Canada Inc. is a publicly-traded Canadian company deploying advanced mobile payment technologies to a variety of sectors
- RevoluGROUP Canada Inc. (REVO) opened trading at C$0.235 per share
RevoluGROUP Canada (REVO) has announced that RevoluSEND has started remittances to Cuba and Morocco, now topping 116 countries.
Management at the United States subsidiary began examining the possible commencement of remittances to Cuba in 2020. Due to United States sanctions and the complexities surrounding this specific market, the company sought legal counsel and specialist advice.
Remittances sent via RevoluSEND bypass centralized Cuban government reception scenarios, including Cuba Restricted List entities. A formal written reply was received from the Department of the Treasury on the 1st of December 2021, deeming these transactions fall within the scope of permissible transactions. RevoluGROUP has now begun remittances to Cuba, which are available through RevoluSEND and from current and upcoming white-label partners, including those in the United States.
Remittances to Morocco exceeded US$7.4B in 2020, while data from Morocco’s Foreign Exchange Office claims that remittances from the Moroccan diaspora reached $5B in the first half of 2021, it is estimated 2021 ended with over $8.6B entering the country.
RevoluPAY’s built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc.
RevoluGROUP Canada Inc. is a publicly-traded Canadian company deploying advanced mobile payment technologies in banking, mobile apps, money remittance, mobile phone top-ups, EGaming, healthcare payments, Esports, invoice factoring, online travel, vacation resort, blockchain systems, and fintech app sectors.
RevoluGROUP Canada Inc. (REVO) opened trading at C$0.235 per share.
