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On What Basis Did CGLO Stock Rise 40%?

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Coro Global Inc (OTCQB: CGLO) climbing more than 40% on Friday to $2.47, the stock has been trading in a range of $2.47 to $2.60. Coro stock dropped more than -26.49% in the last month, with trading volume averaging over 2.47K shares. With CGLO stock rising in absence of current news, we can then reference recent developments so we can understand the stock better.

Have things been going well recently?

Miami-based Fintech company, Coro, is developing a new method of using gold as a currency and making it as easy as fiat money for everyday transactions. CGLO’s platform is built on leading-edge Distributed Ledger Technology that enables clients to seamlessly and securely send and receive currency, including gold, around the world.

Coro Corporation, a subsidiary of Coro, recently received a license from the U.S. to transmit money in Puerto Rico.

  • The mobile payment app CORO was designed by CGLO to enable anyone to exchange, send, and save gold and dollars in an easy and safe manner.
  • CGLO attempts to democratize access to gold in order to lead to better social cooperation and a more sustainable world.
  • By virtue of this license, CGLO is now able to send currency and monetary values within Puerto Rico, as well as from Puerto Rico to other jurisdictions.
  • AML/KYC onboarding and monitoring processes, as well as rigorous financial auditing procedures, were required for CGLO’s licensure approval.

Future plans for CGLO:

Coro (CGLO) now has licensed and onboarded residents in 27 states and the District of Columbia and intends to make its gold payment app available nationwide by 2021. Mexico and Canada will next be part of the international expansion plan for CGLO.

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