RYVYL Announces Retirement of Chairman and Co-founder Ben Errez; Repositions Business to Focus on Crypto Treasury Management

Core Viewpoint - RYVYL Inc. is repositioning its business to focus on crypto treasury management, with a core strategy aimed at building a crypto treasury to support long-term growth [1][2]. Company Leadership Changes - Ben Errez, Chairman and Co-founder of RYVYL, will retire effective August 31, 2025, but will continue to advise the company independently through the end of the year [1][2]. Strategic Business Shift - The company announced a digital asset acquisition strategy on June 16, 2025, planning to accumulate crypto as a reserve asset, viewing it as a long-term store of value and a means to enhance financial resilience [2][3]. - The decision to shift the business reflects a long-term approach to integrating digital assets into the treasury, aiming to enhance balance sheet strength and position the company for future financial innovation [3]. Company Background - RYVYL Inc. was founded in 2017 as GreenBox POS and focuses on empowering various payment transactions globally through electronic payment technology [3]. - The company has developed applications that provide an end-to-end suite of financial products with enhanced security, data privacy, and rapid settlement speed [3].