“Can RYVYL build a scalable global payments intermediary business — combining BIN sponsorship, card issuing, IBAN issuance, and disbursements — without holding a direct banking license?”
Founded in 2017 as GreenBox POS, the company initially focused on blockchain-based payment processing for high-risk, cash-based business verticals. After rebranding to RYVYL in 2022, it broadened its scope to include global payment acceptance, disbursements, BIN sponsorship, card issuing, IBAN issuance, and FX services. By 2024, following compliance headwinds and banking regulation changes, RYVYL pivoted its first-generation QuickCard product and launched NEMS Core, an internal disbursements platform, repositioning itself as a global fintech payments infrastructure intermediary rather than a pure-play POS company.
Ryvyl discloses Cross River as its banking provider, with Cross River Bank, N.A. as its sponsor bank, according to the Embedded Finance Index 2026.
Ryvyl does not disclose a bank charter of its own; its banking services are provided through Cross River Bank, N.A..
Ryvyl processes payments through Ryvyl (self-operated).
Ryvyl's cards are issued through Ryvyl (self-operated).
Ryvyl uses Ryvyl (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 5 layers in Ryvyl's stack: Payments / PSP (Ryvyl (self-operated)); Banking / BaaS (Cross River); Card issuing (Ryvyl (self-operated)); Sponsor bank (Cross River Bank, N.A.); FX & payouts (Ryvyl (self-operated)).
Ryvyl is founded in 2017 and headquartered in San Diego, CA, USA.
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