May 5, 2020 – Miami, Florida Coro Global Inc. (OTC: CGLO) today announced it has been granted a Money Services Business (“MSB”) license by the State of Florida, Office of Financial Regulation.
The license allows the Miami based fintech company to offer its state of the art global payments system, advancing Coro’s mission of creating a financial ecosystem where gold can be used as easily as fiat currencies in everyday transactions. The cutting edge Coro mobile app, allows users to buy and exchange gold as a currency and send it to other users faster, cheaper, and more securely.
This Florida license is an important milestone in achieving Coro’s mission of democratizing access to gold and bringing stability back into the global financial system. By connecting the enduring strength and resiliency of gold with state of the art DLT technology, Coro is a solution for everyone in the world to seamlessly access gold for everyday financial transactions.
The approved Florida license authorizes Coro to transmit currency, monetary value, or payment instruments within the State of Florida, as well as Florida and other MSB licensed jurisdictions, as approved. The Florida MSB 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. Florida’s MSB requirements are rigorous in comparison to other states, partly due to the state’s high volume of international transactions.
Coro’s Chief Compliance Officer Lorenzo Delzoppo stated “we consider our users’ security, privacy and confidentiality to be a top priority, not an afterthought. Even before developing Coros’ financial technology, we developed the strongest possible compliance program and regulatory framework to ensure compliant and secure operations on a continuous basis.” Delzoppo continued, “many more state MSB license approvals for Coro are pending expected soon.”
The Florida MSB license is a big step toward Coro’s plan to provide a mobile remittance system for US-based users to send funds to Latin America and other emerging markets. “We are very proud to be able to introduce this product in Coro’s backyard. No other city will understand and appreciate the value of the Coro mobile payment application, as much as Miami, the city with the largest number of residents originally from Latin America in North America,” said J. Mark Goode, CEO of Coro Global Inc. “We foresee substantial demand for our revolutionary gold currency equipped mobile payment app, allowing for fast, secure, and affordable payments.”