Recent developments for RYVYL include the public filing of merger-related registration and proxy statements, leadership appointments, corporate realignment, asset sales, and ongoing shareholder voting on the merger.

• RYVYL and Roundtable announced the public filing of a registration statement on Form S-4 and proxy statement/prospectus related to their proposed merger on January 15, 2026 [N1].
• RYVYL appointed Brett Moyer as an independent board member to drive growth and innovation as of June 16, 2025 [N8].
• The company announced a digital asset acquisition strategy and corporate realignment efforts on June 16, 2025 [N8].
• RYVYL completed the conversion of a $4.0 million senior convertible note into common stock as of June 6, 2025 [N8].
• RYVYL confirmed that a buyer will proceed to finalize a pre-funded asset sale of its EU subsidiary as of May 15, 2025 [N8].
• HC Wainwright & Co. reiterated a neutral recommendation on RYVYL as of October 6, 2025 [N5].
• The special meeting of shareholders to vote on the merger was adjourned to allow additional vote collection, with reconvening planned for April 1, 2026 [S1].

RYVYL's broad operational control over merchant services and risk management allows it to serve niche and higher risk markets that may be underserved by traditional payment processors. The NEMS Core platform offers a modular, automated disbursement solution that could complement its acquiring services. The merger with RTB Digital adds a SaaS platform with advanced content management, blockchain-based payment features, and a growing user base, potentially diversifying revenue streams and enhancing technological assets. Leadership appointments and corporate realignment efforts indicate active management focus on growth and innovation.

RYVYL operates in highly competitive markets with established payment processors and ISOs, which may limit market share growth. The NEMS Core platform is in early commercialization with uncertain strategic priority. The merger with RTB Digital involves significant ownership dilution and integration risks, with RTB securityholders expected to hold a large majority of the combined company's shares. Financially, the company reported a net loss of $17.5 million in 2025 and modest liquidity ratios, indicating ongoing operational challenges. Execution risks include successful merger completion, integration of disparate business models, and sustaining merchant acquisition and retention in higher risk verticals.

RYVYL's moat is based on its integrated service model that combines merchant underwriting, onboarding, risk management, and customer support with acquiring bank partnerships, enabling it to serve underserved and higher risk merchant segments that traditional processors may avoid. Its internally developed NEMS Core platform adds potential for streamlined disbursement services. The merger with RTB Digital introduces a SaaS platform with proprietary technology and a unique revenue-sharing and cryptocurrency liquidity pool model, potentially expanding RYVYL's market reach and technological capabilities. However, competition remains intense in payment processing and digital media platforms, with differentiation relying on service breadth, risk management, and technology integration.

• Merger Execution Risk: The proposed merger with RTB Digital involves complex integration of different business models and significant ownership dilution, which may impact operational focus and shareholder value.
• Financial Performance and Liquidity: RYVYL reported a net loss of $17.5 million for the year ended December 31, 2025, with modest liquidity ratios, indicating potential challenges in sustaining operations without additional capital or improved profitability.
• Competitive Market Environment: The payment processing and digital media markets are highly competitive, with pressure on pricing, service quality, and technology innovation, which may affect RYVYL's ability to grow its merchant base and platform users.
• Early Stage Product Commercialization: The NEMS Core disbursements platform is in early commercialization and its future strategic importance is under evaluation, posing uncertainty about its contribution to revenue and growth.
• Regulatory and Compliance Risks: RYVYL operates in regulated financial services sectors requiring ongoing compliance with KYC, risk monitoring, and card network rules; failure to maintain compliance could result in penalties or loss of partnerships.

• RYVYL Inc. is a financial technology company providing global payment acceptance and disbursement solutions [S1].
• The company enables merchants to accept credit card payments through third-party acquiring banks and payment processors, with credit card payment processing services representing the substantial majority of revenues [S1].
• RYVYL launched NEMS Core, an internally developed global disbursements platform in late 2024, designed to streamline inbound and outbound payment flows for businesses; it is currently in early commercialization and complements the acquiring services model [S1].
• RYVYL employs a hybrid operating model combining internal functions (merchant review, underwriting, risk management, onboarding, customer service) with external acquiring banks and processing partners for transaction processing and settlement [S1].
• The company focuses on merchants in underserved and higher risk verticals including retail, private/independent educational institutions, auto and home insurance, and segments of the adult entertainment industry [S1].
• RYVYL maintains risk management and compliance processes including KYC documentation review, transaction monitoring, and adherence to acquiring partners and card network requirements [S1].
• RYVYL has approximately 15 full-time employees and engages temporary employees and consultants as needed [S1].
• The company completed a reverse stock split effective January 2, 2026, combining every 35 shares into one share [S1].
• RYVYL entered into a merger agreement with RTB Digital, Inc. (Roundtable) in September 2025, whereby RTB will become a wholly owned subsidiary of RYVYL; RTB operates a professional SaaS platform hosting online media channels and monetizes content through advertising and sponsorship sales [S1].
• As of January 30, 2026, RTB securityholders are expected to own approximately 84.85% of the fully diluted common stock of RYVYL post-merger, with RYVYL's current stockholders owning about 15.15% [S1].
• RTB's platform includes content management, video services, social/community features, mobile apps, advertising serving, and blockchain-based storage, supporting monetization and user engagement [S1].
• RTB's business model involves revenue sharing with platform partners, typically 50% after direct costs, and uses a liquidity pool to convert ad revenue into cryptocurrency to facilitate faster payments to partners [S1].
• RYVYL's financial snapshot as of December 31, 2025, includes $7.425 million in cash and equivalents, $11.137 million in current assets, $10.01 million in current liabilities, revenue of $11.131 million, net loss of $17.526 million, and basic and diluted EPS of -$29.33 [S1].
• Liquidity ratios as of December 31, 2025, are a current ratio of 1.11 and a cash ratio of 0.74, indicating modest short-term liquidity [S1].
• Recent news includes the public filing of a registration statement and proxy statement/prospectus related to the proposed merger with Roundtable announced on January 15, 2026 [N1].
• RYVYL appointed Brett Moyer as an independent board member to drive growth and innovation as of June 16, 2025 [N8].
• RYVYL announced a digital asset acquisition strategy and corporate realignment efforts on June 16, 2025 [N8].
• RYVYL completed conversion of a $4.0 million senior convertible note into common stock as of June 6, 2025 [N8].
• RYVYL confirmed a buyer will proceed to finalize a pre-funded asset sale of its EU subsidiary as of May 15, 2025 [N8].
• HC Wainwright & Co. reiterated a neutral recommendation on RYVYL as of October 6, 2025 [N5].
• RYVYL's merger special meeting was adjourned to allow additional vote collection with reconvening planned for April 1, 2026 [S1].