GreenBox submits new brand — RYVYL — for shareholder approval via proxy vote in advance of annual meeting
New name and overhauled look bring world-class branding to the fintech space and more accurately communicate the company’s exclusive end-to-end suite of payment and financial service products for both businesses and consumers
SAN DIEGO, Sept. 26, 2022 (GLOBE NEWSWIRE) — GreenBox POS (NASDAQ: GBOX), a rapidly growing financial technology company leveraging unique blockchain security and token technology to deliver customized blockchain-driven solutions, has announced its intention to rebrand the company as RYVYL. They are asking shareholders to vote for confirmation in advance of the company’s annual meeting, scheduled for Oct. 6.
When founded in 2017, GreenBox’s offerings served a handful of select markets with more limited product and service offerings. Through continued technology advancement and the development of exclusive processes and offerings based on stablecoin and blockchain, the company will soon serve both businesses and consumers through an end-to-end suite of turnkey financial products, fraud detection and large-scale commercial processing services.
“We are confident our leading-edge technology has massive potential to lead a revolution in the fintech industry, impacting businesses and consumers alike, and we want a brand that is as transformative as our product suite and the underlying technology that brings it to life,” said Fredi Nisan, GreenBox POS CEO.
The company’s efforts are already producing results. During the second quarter of 2022, the company recorded a record processing volume of over $1 billion, about 50% ahead of internal projections, a 40% increase over Q1 and more than double Q2 2021.
The RYVYL rebranding effort has been led by GreenBox POS chief marketing officer Jacqueline B. Reynolds, a marketing industry veteran with organizational leadership experience, including The Coca-Cola Company, 7-Eleven, McDonald’s, Verizon, Casanova/McCann, one of the world’s leading Hispanic advertising agencies, and many other household names.
“GreenBox is in the midst of enormous transformation and, as such, we’ve recognized the need for true differentiation. As a brand, we must evoke an anchor of trust and relevance and communicate our values of tenacity, passion, moxie, vision, empowerment, integrity first and being leading-edge,” said Reynolds. “We believe our shareholders are yearning for a powerful, world class brand that will stand the test of time. With RYVYL, we see ourselves as fierce competitors that bring out the very best in every player.”
The shareholder vote results will be announced after the annual shareholders meeting Oct. 6.
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About GreenBox POS
GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security and USD-pegged stablecoin token technology to build customized payment solutions for merchants and consumers. Founded in 2017 in San Diego, GreenBox’s applications enable an end-to-end suite of turnkey financial products, fraud detection and improve the efficiency of handling large-scale commercial processing volumes. The GreenBox platform offers a number of distinct advantages over traditional payment technologies including greater security and data privacy, enhanced identity theft protection and rapid speed to settlement. As a result, the GreenBox platform can log immense volumes of immutable transactional records in real time for Tier-1 partners around the globe. For more information, visit www.greenboxpos.com.
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 carefully review 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.
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