CORO Granted 3 New U.S. Money Transmitter Licenses as It Moves Towards Becoming a Nationwide Gold Payment Platform
MIAMI–(BUSINESS WIRE)–Coro Global Inc. (OTCQB:CGLO) today announced its subsidiary Coro Corp. has been granted a Money Transmitter license in three new states over the past week, as it continues to spread accessibility to its gold payment app across the country.
Residents of Georgia, Rhode Island and South Dakota will now have access to CORO – a payment app that allows customers to exchange, send and save gold and U.S. dollars easily and securely.
Georgia was hit particularly hard by COVID-19, being home to 5 of the 10 U.S. counties with the highest mortality rates. The Company believes that the state has high levels of economic inequality, and Georgian residents will have high expectations of the next government when it comes to rebuilding the economy and employment.
“With CORO, we hope to enable anyone to take control of their financial future by allowing them to save in gold and use gold as money,” said J. Mark Goode, CEO of Coro Global Inc. “We are extremely excited to start onboarding customers in these three new states.”
Gold is the world’s oldest and most resilient form of money, and has historically survived through periods of economic turmoil.
CORO is now available in the Apple App and Google Play stores to residents of Florida, Alabama, Arizona, Arkansas, Alaska, D.C., Delaware, Georgia, Idaho, Mississippi, Montana, Massachusetts, Oregon, Rhode Island, South Carolina, South Dakota, Washington State and Wisconsin. The Company intends to release CORO in additional U.S. states over the coming months.
The new licenses authorize Coro to transmit currency, monetary value, or payment instruments within Georgia, Rhode Island and South Dakota, as well as from the states to other jurisdictions. The license approvals required implementing a rigorous compliance program and developing an advanced AML/KYC onboarding and monitoring system for anti-money laundering compliance, as well as a strict financial audit process.
Security is vital to Coro. That is why the CORO app runs on the state-of-the-art hashgraph distributed ledger technology (DLT), protecting users’ money and personal data against cyberattacks. This technology also allows Coro to operate at revolutionary speeds and at exceedingly low costs.
The gold in CORO customers’ digital wallets will always be matched by physical gold held in a secure safe, insured and verified by the world leader in precious metals trading Dillon Gage.
About Coro Global Inc.
Coro Global Inc. is a Miami, Florida-based fintech company that is creating a new financial payment system where gold can be used as money in everyday transactions as easily as fiat currencies. Coro’s platform is powered by cutting-edge Distributed Ledger Technology, allowing customers to send and receive global payments and exchange currency, including gold, seamlessly and securely.
Cautionary Note Regarding Forward-Looking Statements
Matters discussed in this press release contain forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company’s risk factors is contained in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law.
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