Coro Global Inc. (OTCQB: CGLO) today announced its subsidiary Coro Corp. has been granted a Money Transmitter license by the State of Delaware, Office of the State Bank Commissioner.
As a result of the company being granted this license, Delaware residents will have access to CORO, which is a payment app that allows customers to exchange, send and save gold and U.S. dollars easily and securely. CORO is now available in the Apple App and Google Play stores to residents of Florida, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, South Carolina, and Wisconsin. The company intends to release CORO in additional U.S. states over the coming months.
This Delaware license is an important milestone in achieving Coro’s mission of democratizing access to gold. Coro is harnessing the enduring strength and resiliency of gold at a time when people are seeking to protect their hard-earned savings.
As the economy kicks back into gear in Delaware, businesses are facing huge losses as a result of the pandemic. The company believes that Delaware and its individual citizens will be focusing their energy on economic recovery, which starts with maintaining the value of their money and shielding it from instability.
“With the financial crisis of ‘08 – ‘09 still fresh in our minds, people need to know their money is secure,” said J. Mark Goode, CEO of Coro Global Inc. “We support the use of gold as money, which is physical, and historically resilient.”
The approved Delaware license authorizes Coro to transmit currency, monetary value, or payment instruments within the State of Delaware, as well as from Delaware to other jurisdictions. The Delaware license approval 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.
The CORO app runs on the state-of-the-art Hashgraph Distributed Ledger Technology (DLT) which makes it extremely resilient to cybercrime. Coro’s Chief Compliance Officer Lorenzo Delzoppo stated, “We consider our customers’ security and data safety to be a top priority, not an afterthought. Even before developing CORO’s financial technology, we developed the strongest possible compliance program and regulatory framework to ensure compliant and secure operations on a continuous basis.” Delzoppo continued, “State regulators are currently reviewing many more of our license applications and we expect to be granted more of such licenses soon.”
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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