FORM 4
☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Nisan Fredi		 2. Issuer Name and Ticker or Trading Symbol

RYVYL Inc. [ RVYL ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

3131 CAMINO DEL RIO NORTH, SUITE 1400		 3. Date of Earliest Transaction (MM/DD/YYYY)

11/4/2020
(Street)

SAN DIEGO, CA 92108		 4. If Amendment, Date Original Filed (MM/DD/YYYY)

12/28/2020 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)
Rule 10b5-1(c) Transaction Indication
☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock par value $0.001 11/4/2020  M  500000 (1)A$0.065 125235244 D  
Common Stock par value $0.001 11/4/2020  F  52420 (1)D$0.065 125182824 D  
Common Stock par value $0.001 11/13/2020  S  250000 D$0.30 124932824 D  
Common Stock par value $0.001 12/22/2020  S  74627 A$0.70 125358197 D  
Common Stock par value $0.001 2/12/2021  D  1800000 (2)A$2.33 123558197 (4)I GreenBox POS LLC (3)
Common Stock par value $0.001 3/15/2021  A  389 (6)A$12.84 20593422 D  
Common Stock par value $0.001 4/15/2021  A  495 (6)A$10.10 20593917 D  
Common Stock par value $0.001 5/15/2021  A  542 (6)A$9.22 20594459 D  
Common Stock par value $0.001 5/21/2021  S  20062 A$0.70 20577402 D  
Common Stock par value $0.001 6/15/2021  A  343 (6)A$14.60 20577745 D  
Common Stock par value $0.001 7/15/2021  A  482 (6)A$10.37 20578227 D  
Common Stock par value $0.001 8/16/2021  A  647 (6)A$7.73 20578874 D  
Common Stock par value $0.001 8/26/2021  P  280 A$8.67 20579154 D  
Common Stock par value $0.001 8/26/2021  P  837 A$8.75 20579991 D  
Common Stock par value $0.001 8/26/2021  P  971 A$8.75 20580962 D  
Common Stock par value $0.001 8/26/2021  P  192 A$8.75 20581154 D  
Common Stock par value $0.001 9/1/2021  P  7 A$9.47 20581161 D  
Common Stock par value $0.001 9/15/2021  A  496 (6)A$10.09 20581657 D  
Common Stock par value $0.001 10/15/2021  A  659 (6)A$7.59 20582316 D  
Common Stock par value $0.001 (7)11/24/2021  D  1000000 A$5.59 19582316 I GreenBox POS LLC 
Common Stock par value $0.001 (8)1/20/2022  A  758 A$6.60 19583074 D  
Common Stock par value $0.001 (8)1/20/2022  A  1008 A$4.96 19584082 D  
Common Stock par value $0.001 (9)1/27/2022  A  3513 A$4.27 19587595 D  
Common Stock par value $0.001 (10)3/15/2022  A  1481 A$2.43 19589076 D  
Common Stock par value $0.001 (11)4/27/2022  A  3354 A$3.40 19600614 D  
Common Stock par value $0.001 5/23/2022  P  4800 A$2.05 19605414 D  
Common Stock par value $0.001 6/13/2022  P  80 A$1.99 19605494 D  
Common Stock par value $0.001 6/16/2022  P  600 A$1.43 19606094 D  
Common Stock par value $0.001 6/16/2022  P  600 A$1.43 19606694 D  
Common Stock par value $0.001 6/16/2022  P  400 A$1.43 19607094 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (1)$0.065 11/4/2020  M     500000  6/24/2020 6/24/2025 Common Stock, par value $0.001 500000 $0 0 D  
Stock Options $1.01 12/1/2020  A   500000    12/1/2020 6/1/2026 Common Stock, par value $0.001 500000 $0 500000 (5)D  
Stock Options $13.31 6/2/2021  A   3005    6/2/2021 6/1/2026 Common Stock, par value $0.001 3005 $0 86338 D  
Stock Options $3.66 4/13/2022  A   8184    10/13/2022 10/13/2027 Common Stock, par value $0.001 8184 $0 94522 D  
Explanation of Responses:
(1) Mr. Nisan did a cashless exercise of his 500,000 stock options granted on 6/24/2020, 52,420 of which were used to pay the exercise price.
(2) The reporting party indirectly sold 1.8 million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.
(3) The reporting person serves as a managing member of GreenBox POS LLC.
(4) The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Nisan's 123,558,197 shares of common stock became 20,593,033 shares of common stock.
(5) The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Nisan's 500,000 stock options became 83,333 stock options.
(6) Mr. Nisan earns $5,000 worth of shares of Common stock monthly as compensation for serving as a Director of the Company, issuable on the 15th day of each month calculated based on the closing price of our Common Stock on that date or the next trading day.
(7) The reporting person indirectly sold one million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.
(8) Mr. Nisan earns $5,000 worth of shares of Common stock monthly as compensation for serving as a Director of the Company, issuable on the 15th day of the first month of each quarter in the number based on the closing price of our Common Stock on that date or the next trading day. The issuances for November 2021 and December 2021 were delayed.
(9) The Board of Directors of the Company granted Mr. Nisan 3,513 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan as compensation for serving as a Director of the Company during Q1 2022, whereby 1/3 of the shares granted vest immediately upon issuance, an additional 1/3 of the shares shall vest each month thereafter, and all shares vest fully on March 15, 2022.
(10) Mr. Nisan earns $5,000 worth of shares of Common stock monthly as compensation for serving as a Director of the Company based on the closing price of our Common Stock on that date or the next trading day. The Board of Directors of the Company granted shares valued at $3,600 in a March issuance that will be applied against Q2 issuances.
(11) Mr. Nisan earns $5,000 worth of shares of Common stock monthly as compensation for serving as a Director of the Company, issuable on the 15th day of the first month of each quarter calculated based on the closing price of our Common Stock on that date or the next trading day, whereby 1/3 of the shares granted shall vest 6 months after issuance and an additional 1/3 of the shares shall vest each month thereafter.

Remarks:
See continuance of amended transactions on Form 4 filed on the same day.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Nisan Fredi
3131 CAMINO DEL RIO NORTH
SUITE 1400
SAN DIEGO, CA 92108		X
Chief Executive Officer
Signatures
/s/ Fredi Nisan5/30/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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