CORO, a U.S.-based gold payment app, announced on Tuesday it has received its money transmitter license in Alabama. The latest milestone comes just a little over a month after CORO received its money transmitter license in Oregon. As previously reported, CORO has created a new financial payment system that allows gold to be used as a currency in everyday transaction and allows customers to send and receive global payments and exchange currency.
“Our mission is to create a world where everyone has fair access to stable money, creating trust and cooperation across societies.”
CORO is now available in the Apple App and Google Play stores to residents of Florida, Alabama, Arizona, Arkansas, Alaska, D.C., Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State, and Wisconsin. The company intends to release its services in additional U.S. states over the coming months. Speaking about the app’s development, J. Mark Goode, CEO of Coro Global Inc., stated:
“People need to know their money is safe, and at the moment, traditional financial institutions and Wall Street aren’t all that reassuring. Even if people know about the benefits of gold, they may not know how to actually use it as money – that’s why we’ve made it as easy as downloading an app.”
CORO went on to add to obtain the license, it was required to implement a rigorous compliance program and develop an advanced AML/KYC onboarding and monitoring system for anti-money laundering compliance, as well as a strict financial audit process.