Ryvyl reports no exposure to SVB, Signature Bank

RYVYL Inc. (RVYL) announced the Company has no exposure to Silicon Valley Bank (SIVB) and Signature Bank (SBNY). Although the Company had deposits with Signature Bank of NY in the past, it has recently moved its entire ecosystem to other banks. Additionally, the Company never held deposits or otherwise collaborated with SVB, and therefore, RYVYL’s operations as a company are unaffected by SVB’s closure. The Company believes SVB’s collapse further demonstrates that its coyni technology is superior to other digital payment structures with its USD-pegged architecture, transparency, stability and security.