Exhibit 21.1
List of the Registrant’s Subsidiaries
| Moltopay Financial Ltd. (British Columbia, Canada) |
| Northeast Merchant Systems, Inc. (Massachusetts) |
| Charge Savvy LLC (Illinois) |
| Logicquest Technology, Inc. (f/k/a Coyni, Inc.) (Nevada) |
| Transact Europe Holdings OOD (Bulgaria) |
| RYVYL (EU) EAD (Bulgaria) |
| Mangrove Cell 43 PC (District of Columbia) |
| Tera Payment Systems, Inc. (Delaware) |