Coro Global Inc.’s (OTCQB: CGLO) gold payment app CORO can now operate in 19 U.S. states and District of Columbia, after the subsidiary Coro Corp. was granted Money Transmitter licenses in New Hampshire and Oklahoma, as it aims to democratize access to gold in the United States and beyond.
CORO is a mobile payment app that allows customers to exchange, send and save gold and dollars easily and securely. The company is now onboarding residents of 20 U.S. states, and intends to expand availability of its gold payment app across the country over the coming months.
Coro Global is a Miami, Florida-based fintech with a mission to create a more sustainable global financial system by enabling access to the most resilient form of money: gold. Coro has been building the infrastructure and tools for anyone to be able to use gold as easily as traditional currencies in their daily lives.
"Gold is the oldest and most resilient money we’ll ever know," said J. Mark Goode, CEO of Coro Global Inc. "The company thinks that CORO can empower people to take control of their financial futures by allowing them to save and spend in gold as well as using gold as money, rather than fiat currencies such as the U.S. dollar, which are prone to devaluation."
Since the CORO app launched in August 2020, it has been made 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, New Hampshire, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Washington State, and Wisconsin.
The new licenses authorize Coro to transmit currency, monetary value, or payment instruments within New Hampshire and Oklahoma, 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.
CORO is unique by combining the most resilient form of money, with the world’s most advanced and secure payment technology: state-of-the-art hashgraph distributed ledger technology (DLT). Hashgraph protects users’ money and personal data against cyberattacks, and allows CORO to operate at revolutionary speeds and at exceedingly low costs.
CORO customers will always be buying real gold. The gold balance in users’ 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.
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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 Coro Global Inc. (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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