Roundtable Appoints Aly Madhavji as CFO to Oversee RYVYL Merger and NASDAQ

San Diego, CA, Nov. 06, 2025 — Roundtable and RYVYL Inc. (NASDAQ: RVYL) have announced that esteemed Web3 investor Aly Madhavji will assume the role of Chief Financial Officer (CFO) of the soon-to-be-merged entity. His appointment brings together his extensive traditional finance credentials and his substantial experience managing over 200 blockchain infrastructure technology investments.

In his capacity as CFO, Madhavji will play a pivotal role in guiding Roundtable through the merger and subsequent NASDAQ listing, while fostering connections between the dynamic blockchain investment community and Roundtable. Current CFO of RYVYL, George Oliva, will transition to Chief Accounting Officer for the combined organization upon the merger’s completion.

Madhavji possesses impeccable financial credentials, complemented by a profound understanding of the Web3 sector. His extensive network includes relationships with over 500 blockchain co-investors globally, with his primary base of operations in Singapore.

James Heckman, CEO of Roundtable, expressed high regard for Madhavji’s leadership and expertise, stating, “In over 30 years of financing and operating technology companies, I have not encountered an individual with as much intensity and thoroughness as a board member and investor, which reflects his technical and financial acumen. His impact has been so significant that we invited him to participate in this unique opportunity to transform an entire industry. Aly possesses the rare ability to articulate the vision of our revolutionary platform to both traditional and blockchain-focused investment communities.”

Madhavji is a licensed Chartered Accountant (CA, CPA, CMA, CIM) and holds a Master’s in Global Affairs from Tsinghua University (清华大学). He also earned an MBA from INSEAD (Singapore/France), where he was designated as a Blockchain Fellow, and completed his undergraduate studies with a BA in Commerce with Distinction from the University of Toronto, where he is a member of the Governing Council. An internationally recognized author and a featured speaker at major Web3 conferences, Madhavji contributes as an analyst for leading crypto publications and serves as the acclaimed lead on Amazon Prime Video’s series Crypto Knights. His role on the Roundtable board signifies his second service at the NASDAQ level, following his engagement with Soluna Holdings.

Aly Madhavji pictured in a portrait session.

Madhavji remarked, “I am joining Roundtable as CFO because it has successfully translated the media industry’s long-held Web3 aspirations into practical reality. The RYVYL merger introduces bank-grade payment solutions and public-market discipline; our platform delivers what publishers have sought for years: real-time revenue, clear reporting, and control over their data, audiences, and intellectual property—only achievable through Web3. Throughout my experiences with hundreds of blockchain infrastructure teams, this one stands out, which is why Blockchain Founders Fund made Roundtable its largest investment. Consequently, I am leading our NASDAQ journey to align Roundtable with both traditional and crypto-focused investors.”

Madhavji joins a distinguished executive team led by digital media entrepreneur James Heckman and blockchain pioneer Eyal Hertzog. Hertzog, whose contributions include co-founding and architecting Roundtable’s “DeWeb” platform, is widely acknowledged as a technical inventor of decentralized finance (DeFi), encompassing automated market-making and liquidity pool mechanisms that form the backbone of the industry. He also co-founded the first social video platform, MetaCafe, which was instrumental in shaping the foundation of social media through its recommendation algorithm.

Heckman, a seasoned founder and former executive at Yahoo, Google, and News Corp, has successfully developed and scaled over a dozen technology platforms, including Arena Group, which provided digital media solutions for more than 300 global brands. He is joined by long-time collaborator Bill Sornsin as COO, who previously held senior product leadership positions at Microsoft and co-architected multiple global-scale platforms with Heckman.

This leadership team is responsible for the development of Roundtable, the first large-scale, enterprise-level Web3-powered media platform that integrates decentralized payments, transparent real-time reporting, and on-chain audience and data control, creating next-generation infrastructure for professional publishers and media networks worldwide. Heckman’s previous company, Arena, evolved into a nine-figure public enterprise serving a diverse range of global media brands, including Sports Illustrated, Maxim, History.com, and TheStreet. His prior roles encompass Head of Global Media Strategy at Yahoo!, Chief Strategy Officer at Fox Interactive, and architecting the $1 billion advertising alliance between MySpace and Google, as well as the original business model for Hulu, which facilitated partnerships with major media corporations such as AOL, Yahoo!, and MSN.

Heckman has established and taken public or sold ten large-scale ventures in the digital media sector, including Rivals.com (acquired by Yahoo!), Scout.com (acquired by Fox), 5to1.com (public, acquired by Yahoo!), NFL Exclusive, and Arena. Remarkably, every venture he founded has achieved sustainability and considerable industry scale.

Visionary Partners and Board Members

Merger Details

A definitive agreement has been executed between RYVYL (NASDAQ: RVYL) and Roundtable. The closing of the merger is subject to shareholder approval and standard regulatory review. Upon completion of the merger:

James Heckman will ascend to the position of CEO.
Walton Comer will assume the role of Chairman, leading a seven-member board.
Aly Madhavji will retain the CFO position (from Roundtable) within the merged organization.
George Oliva will continue as EVP/Finance and Chief Accounting Officer, reporting to Heckman.
The company will be renamed RTB Digital, Inc., operating under the name “Roundtable.”
Six directors will be appointed by RTB, with independent director Brett Moyer retained; all other current directors of RYVYL will resign from their positions.

About Roundtable (RTB Digital, Inc.)

Roundtable is a Web3-based digital media SaaS platform that offers white-label, full-stack distribution, community engagement, publishing, and monetization solutions for professional media brands and journalists—anchored by a digital liquidity pool integrated into the platform. For more information, please visit RTB.io.

About RYVYL

RYVYL Inc. (NASDAQ: RVYL) operates a global digital payment processing enterprise, facilitating transactions and providing payment solutions for underserved markets. The company has developed applications that deliver an end-to-end suite of turnkey financial products, featuring enhanced security, data privacy, world-class identity theft protection, and rapid settlement speeds. More information can be found at www.ryvyl.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes information that constitutes forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which are informed by information currently available to the Company. Such forward-looking statements often involve terminology that signifies future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” and “continue” or similar expressions. Readers are advised to carefully scrutinize such statements as they discuss future expectations and plans that may contain projections of future operational or financial outcomes, or other forward-looking information.

Due to their nature, forward-looking statements address matters that are inherently subject to risks and uncertainties. Numerous factors could result in actual outcomes differing materially from those expressed in the forward-looking statements. The risk factors affecting the Company are elaborated in detail in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required by applicable laws. These forward-looking statements include, but are not limited to, projections concerning the anticipated merger between the Company and the target parties, expected closing timelines, and descriptions of the post-transaction Company and its operational strategies and management team following the completion of the merger. Several risks and uncertainties could cause actual results to diverge significantly from those anticipated in these statements, such as unsuccessful integration of the Parties’ businesses, potential delays or non-fulfillment of merger approval by stockholders, and various regulatory challenges. Other factors may also arise that could lead to the termination of the merger agreement or adjustments to the transaction terms, impacting the overall market value and operational results for the Parties involved.

RYVYL IR Contact:
Richard Land, Alliance Advisors Investor Relations
973-873-7686 [email protected]