RYVYL Inc. Files for Public Offering, Plans $100 Million Raise

RYVYL Inc. has taken significant steps to enhance its digital asset capabilities and streamline operations. On June 16, the company filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC), outlining its plans for a public offering. While specific details such as the price range and number of shares were not disclosed, this move is part of RYVYL's broader strategy to scale its digital asset capabilities and expand into advanced blockchain and crypto ventures.

As part of this strategy, RYVYL has announced plans to acquire a complementary technology entity. A letter of intent (LOI) has been signed with a target entity that possesses synergistic technologies and digital assets. This acquisition is strategically focused on high-performing verticals within the North American market, which at its peak earned $12 million in revenue during Q4 2023. The acquisition aims to integrate advanced technologies and expand RYVYL's digital asset offerings, strengthening its competitive edge in the market.

RYVYL has also implemented significant corporate restructuring measures. On May 31, 2025, the company executed a restructuring plan that included a 40% reduction in its North American workforce, eliminating 18 roles. This move is expected to save around $780,000 per quarter. Additionally, plans to scale back the use of third-party engineering contractors in Q2 2025 could save an additional $265,000 per quarter. These cost reduction measures are central to RYVYL's transition towards leaner operations and sustainable growth.

The company has also completed the sale of its wholly owned European subsidiary, RYVYL EU, marking a strategic withdrawal from European operations. This move allows RYVYL to focus on North America and strengthen its core payment solutions. Simultaneously, RYVYL has withdrawn its previously issued guidance for 2025 and is reentering a previously successful vertical market within North America. This market generated significant revenue in 2023 and aligns well with RYVYL’s enhanced blockchain and crypto initiatives.

The reentry into this market aims to capture lost ground while leveraging recent innovations in payment security and real-time transaction processing. RYVYL’s expanded blockchain applications are expected to increase digital asset integrations across platforms. These developments will be crucial as the company prepares to raise a minimum of $100 million to support its enhanced business plan and acquisition. Shareholder approvals will be required for the acquisition, a potential reverse stock split, and an increase in authorized common stock.

Founded in 2017 in San Diego as GreenBox POS, RYVYL has evolved into a global payment solutions innovator. Its platform offers secure, real-time financial transaction processing supported by advanced data privacy measures and immutable blockchain logs. The company’s current roadmap centers on strategic growth in North America, cost efficiency, and expansion into the digital asset space. With these transformations, RYVYL continues to position itself as a crucial player in digital finance. This ongoing shift in operations, blockchain, and crypto is expected to define the company’s Q2 2025 trajectory.

The SEC review of the S-1 registration will dictate the timeline for the public offering. Until the registration becomes effective, no shares will be sold or offered. The expected funding plays a key role in finalizing the acquisition and executing the broader transformation plan. While there is no certainty that the acquisition will be completed and yield benefits, the commitment to digital asset integration and operational realignment reflects a forward-looking approach. Market responses, shareholder actions, and regulatory clearances will determine the outcome.