RYVYL (NASDAQ: RVYL), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, is reporting on its second-quarter 2023 financial reports. According to the company its Q2 revenues came in above guidance range, with a 30% sequential growth. The report noted that the company anticipated total revenues for Q2 2023 to total at least $14.5 million, compared to Q1 2023 revenues of $11.3 million; this exceeds the company’s target range for second-quarter revenue, which was $12.5 to $14 million. In addition, the report noted that Q2 2023 processing volume should reach at least $650 million, an increase of 16% from the first quarter 2023 and also coming in above the company’s target range of $580 to $610 million. According to the announcement, final recognized revenue is subject to RYVYL’s quarterly review and will be released with the company’s unaudited financial statements and quarterly report. “We are proud to report continued strong business momentum across all major channels in the second quarter leading to revenue and processing volume exceeding our prior guidance,” said RYVYL chief operating officer Min Wei in the press release. “This demonstrates the ongoing successful execution of our growth initiatives domestically and overseas as our innovative payment and banking solutions continue to gain adoption.”
To view the full press release, https://ibn.fm/UlOoV
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 unique blockchain security and USD-pegged stablecoin technology with near real-time attestation, RYVYL is reinventing the future of financial transactions using its coyni(R) stablecoin platform as a transactional foundation. Since its founding as GreenBox POS in 2017, 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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