Blockchain Meets Wall Street: RTB Digital Merges Media, Payments for NASDAQ Push

RYVYL Inc. and Roundtable announced on November 6, 2025, a merger that will combine the blockchain-focused media platform with RYVYL's digital payment processing capabilities, positioning the new entity for a NASDAQ listing, according to a TradingView notice. The deal also marks the appointment of Aly Madhavji as chief financial officer (CFO) of the merged company, RTB Digital, Inc. Madhavji, a seasoned Web3 investor and Chartered Accountant, brings over 30 years of experience in finance and blockchain infrastructure, having managed investments in more than 200 blockchain projects and advised major crypto publications, as noted in a Bitcoin Magazine release.

The merger aims to integrate Roundtable's decentralized media platform with RYVYL's financial technology, creating a hybrid solution that leverages blockchain for transparent payments and real-time reporting. Roundtable CEO James Heckman, a serial entrepreneur with a history of scaling digital media ventures, emphasized Madhavji's unique ability to bridge traditional and crypto-focused investment communities. "Aly has the rare expertise to translate our Web3 vision into actionable strategy for both sectors," Heckman said, citing Madhavji's roles as a blockchain fellow at INSEAD and his leadership in Amazon Prime Video's Crypto Knights series, as noted in a StockTitan report.

Madhavji's appointment follows RYVYL's current CFO, George Oliva, transitioning to chief accounting officer in the merged entity. The new leadership team includes Eyal Hertzog, co-founder of Roundtable's "DeWeb" platform and inventor of key DeFi mechanisms like automated market-making, and Bill Sornsin, a former Microsoft executive serving as COO, according to a Globe and Mail release. The merged company will operate under the RTB Digital, Inc. name but retain the "Roundtable" brand, with Heckman as CEO and Walton Comer, a strategic partner with ties to Deribit and XBTO, as chairman, as announced in the TradingView notice.

The merger remains subject to shareholder approval and regulatory review. Upon closing, the board will consist of six directors appointed by RTB, with RYVYL's independent director Brett Moyer retained. All other RYVYL directors will step down, the Globe and Mail release said. Roundtable's platform, which offers white-label solutions for media brands, is designed to empower publishers with on-chain data control and decentralized payment systems. RYVYL, meanwhile, provides payment solutions for underserved markets, including its Coyni Platform for stablecoin-based custodial services and ChargeSavvy, a point-of-sale system for hospitality, as described in a MarketScreener report.

The deal faces typical merger risks, including regulatory hurdles and integration challenges. Forward-looking statements in the press release caution that cost synergies, market adoption, and leadership retention could be impacted by economic conditions, regulatory shifts, and unforeseen operational delays, as noted in the Bitcoin Magazine release. Roundtable and RYVYL have pledged to align their strategies with both traditional and crypto investors, a goal underscored by Madhavji's dual expertise and the involvement of blockchain pioneers like Brock Pierce (Tether co-founder) and David Bailey (Bitcoin Magazine) on the board, as detailed in the Globe and Mail release.