RYVYL appoints CFO Oliva and Jones to board as two directors step down

SAN DIEGO - RYVYL Inc. (NASDAQ:RVYL), currently trading at $0.28 with a market capitalization of $8.67 million, has appointed current CFO George Oliva and former interim CFO Gene Jones to its Board of Directors, the company announced Friday. The appointments follow the resignation of independent directors Genevieve Baer and Ezra Laniado, effective August 31, 2025.

Oliva has served as RYVYL’s CFO since October 2023 and brings over 30 years of senior finance experience. Before joining RYVYL, he was Chief Financial Officer and Corporate Secretary for WiSA Technologies, Inc. and a partner at executive services firm Hardesty LLC. His career includes financial leadership roles at SpineEx, Inc., GameWorks, and Eva Automation. Oliva began his career in auditing with Arthur Andersen & Co. and holds a Business Administration degree from the University of California, Berkeley.

Jones previously served as RYVYL’s Interim CFO and SEC Project Advisor from March to October 2023, helping complete financial restatements and compliance filings. He is currently a partner at SeatonHill Partners, LP, specializing in CFO services. With over 35 years of executive experience, Jones has worked with public and private companies across various sectors, focusing on organizations in transition.

"I’m excited to return to RYVYL with the opportunity to support the company during this critical phase in its evolution," Jones said in the press release statement.

RYVYL, formerly known as GreenBox POS, develops payment transaction solutions and was founded in San Diego in 2017. The company generated revenue of $48.9 million in the last twelve months, with a gross profit margin of 40.35%. InvestingPro analysis shows the stock is currently undervalued, with 10+ additional ProTips available to subscribers, covering crucial metrics like financial health scores, growth potential, and detailed valuation analysis.

In other recent news, RYVYL Inc. has announced the successful closing of its public offering, raising approximately $6 million in gross proceeds. This offering included 15,384,615 shares of common stock and warrants, priced at $0.39 per share and warrant, with the warrants set to expire five years after issuance. Additionally, RYVYL has filed a registration statement on Form S-1 with the Securities and Exchange Commission, though details regarding the number of shares and price range for this proposed offering remain unspecified. In a significant development, the S8 Global Fintech & Regtech Fund has acquired a 10% stake in RYVYL, purchasing about 3.6 million shares. This acquisition positions S8 as RYVYL’s largest shareholder, as reported in recent SEC filings. The Luxembourg-based fund specializes in fintech and related sectors. These recent developments highlight RYVYL’s strategic financial maneuvers and investor interest in the company.

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