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Gold Payment App CORO Granted Money Transmitter Licenses in Washington, D.C. and Washington State
Gold Payment App CORO Granted Money Transmitter Licenses in Washington, D.C. and Washington State.
About this update from Coro Global Inc
[{"type":"text","content":"\nCoro Global Inc. (OTCQB: CGLO) today announced its subsidiary Coro Corp. has been granted Money Transmitter licenses by the Washington D.C. Department of Insurance, Securities and Banking, and the Washington State Department of Financial Institutions.\n\nAs a result of the company being granted these licenses, Washington, D.C. and Washington State residents will have access to CORO - 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, Washington D.C., Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State and Wisconsin. The company intends to release CORO in additional U.S. states over the coming months.\n\nAs the heart of the U.S. government, D.C. needs to set an example for robust and durable economic recovery from the COVID-19 pandemic. That said, with the district dealing with a budget gap of almost $800 million, residents will have to rely on themselves and their businesses to get through the current recession. Separately, in Washington State, historic wildfires are devastating communities, potentially costing the West Coast hundreds of billions of dollars.\n\nTo best protect themselves amid such economic uncertainty, U.S. citizens have to be smart in managing their finances and saving their money. Gold is the world’s most resilient form of money, and has historically survived - and even thrived - through periods of economic turmoil.\n\n“The U.S economy may not recover until 2022 at the earliest. In order to get through the COVID-19 pandemic on a solid footing, people first and foremost need to know their money is protected for years to come, without fearing that their financial institutions might collapse any day,” said J. Mark Goode, CEO of Coro Global Inc. “That’s why we allow our customers to save in gold, as well as use it as money.”\n\nThe approved licenses authorize Coro to transmit currency, monetary value, or payment instruments within the District of Columbia and Washington State, as well as from both places to other jurisdictions. The license approvals required implementing a rigorous compliance program and developing an advanced AML/KYC onboarding and monitoring system, as well as a ...