CashBet adds key crypto figures to advisory board

first_img Tags: Mobile Online Gambling CashBet adds key crypto figures to advisory board CashBet has expanded its advisory board with the addition of major figures from both the cryptocurrency and online gaming markets as it seeks to cement its position as one of the industry’s leading blockchain-powered gaming platforms.Charlie Shrem, a successful crypto entrepreneur and one of the first investors to embrace Bitcoin during its infancy, will offer his expertise to the company.Shrem is a founding member of the Bitcoin Foundation and also co-founded both the BitInstant Bitcoin exchange and CryptoIQ investment news service.Earlier this year, CashBet completed a $38m (£29m/€33m) initial coin offering and Shrem will now advise the firm about its crypto operations.“Online gambling is a space that’s ripe for disruption,” Shrem said. “CashBet has an ambitious plan to couple a crypto-enabled software platform with state-of-the-art original iGaming content to provide crypto casino operators with a true one-stop solution.“I’m especially excited because CashBet is one of very few crypto players that is fully licensed and regulated by top-tier gambling jurisdictions. They’re really trying to legitimise the crypto casino experience.”Meanwhile, CashBet has also added Matteo Monteverdi, formerly senior vice-president of global digital products at IGT, and Daniel Phillips, previously head of operations at Playtech, to its advisory board.Monteverdi has spent more than 20 years working in the international B2B and B2C iGaming sector, while Phillips also spent time with Gala Coral during more than 20 years in the industry.Mike Reaves, co-founder and chief executive of CashBet, said: “Charlie’s depth of expertise in crypto innovation, along with Matteo and Daniel’s decades of experience in gaming are a powerful combination that will help us realise our ambitious vision of becoming the world’s leading blockchain-powered iGaming platform.“We’re honoured to have all three highly experienced individuals join our advisory board.”CashBet has made a number of changes to its executive team this year, having confirmed the appointments of Tarun Gaur as vice-president of engineering, Jeremie Kanter as vice-president of compliance and Kyle Piasecki as casino manager in May.Gaur previously served in senior roles at AOL, Microsoft, Deloitte, and HP, while Kanter joined after a 12-year spell with Playtech. Piasecki previously worked at Caesars Entertainment. Subscribe to the iGaming newsletter Topics: People Strategy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Crypto pioneer Charlie Shrem among the new additions People 6th August 2018 | By contenteditor Email Addresslast_img read more

IGT powers in-person betting at PA’s Valley Forge sportsbook

first_imgCasino & games Regions: US Pennsylvania IGT powers in-person betting at PA’s Valley Forge sportsbook Topics: Casino & games Sports betting Tech & innovation Email Address International Game Technology (IGT) has deployed its PlayDigital PlayShot technology to power in-person sports wagering services at FanDuel’s new sportsbook at the Valley Forge Casino Resort in Pennsylvania.center_img International Game Technology (IGT) has deployed its PlayDigital PlayShot technology to power in-person sports wagering services at FanDuel’s new sportsbook at the Valley Forge Casino Resort in Pennsylvania.Punters at the casino in King of Prussia are now able to place over-the-counter wagers via PlayShot. Betting is available on all major sports and US collegiate events.With this launch, IGT PlayShot is operational in six states: Nevada, New Jersey, Mississippi, West Virginia, Rhode Island and now Pennsylvania.“Together with FanDuel, IGT PlayDigital created a scalable sports betting ecosystem with PlayShot for Valley Forge Casino Resort that delivers an exceptional wagering experience,” IGT’s senior vice-president for PlayDigital, Enrico Drago, said.“Adding Pennsylvania to the growing roster of states where PlayShot is deployed reinforces the flexibility and market-readiness of the technology, and propels PlayShot’s position as the leading B2B sports betting platform in the US.”The new 1,800sq ft sportsbook opened at the Boyd Gaming-owned casino last week, with customers having access to seven teller windows, 29 video displays, two sports tickers and a seating area.The launch serves as an extension of a partnership between FanDuel and Boyd, with the two parties having already launched a sportsbook at Boyd’s IP Casino Resort and Spa in Biloxi, Mississippi.Earlier this month, IGT also linked up with Paddy Power Betfair-owned FanDuel to roll out its PlayShot technology in New Jersey. FanDuel installed 14 PlayDigital PlayShot QuickBet kiosks at its sportsbook facility at the New Meadowlands Racetrack, with visitors now able to place a range of bets via the kiosks.Image: Montgomery County Planning Commission 19th March 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more

Svenska Spel awards SEK5m in addiction research grants

first_img5th July 2019 | By contenteditor Casino & games Svenska Spel awards SEK5m in addiction research grants AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Svenska Spel’s Research Council has selected five new research projects to support, issuing grants totalling SEK5m (£425,471/€474,312/$534,260) to initiatives looking to find ways to better treat understand gambling addiction.The operator has only revealed details of three of the projects to it will support, with one to map gambling addiction among professional ice hockey players in Sweden.Another grant will help fund the development of a new internet-based addiction treatment service, while the other will examine the connection between trauma and problem gambling in women.“It is with great pleasure that we have selected projects that have the potential to contribute to increased knowledge about gambling addiction,” Svenska Spel research council chair Sara Lindholm said.Established in 2010, the research council awards grants of SEK5m each year, to increase knowledge and understanding of gambling problems, and how best to prevent them. It is made up of experienced researchers and representatives from social interest groups, and assesses applications based on the scientific quality of the project, and its relevance to society.“At Svenska Spel we strive to offer safe games and gaming environments,” Svenska Spel sustainability manager Scarlett Roa explained. “To be able to develop our responsible gaming processes it is crucial to support research.”The operator has already set high social responsibility controls, which has seen it cease offering bonuses and promotions, and implement ID verification across all channels. The controls have been tightened further in 2019, with Svenska Spel cancelling all advertising for its online casino product for the remainder of the year, as a result of the high risk profile of games such as slots. Subscribe to the iGaming newsletter Svenska Spel’s Research Council has selected five new research projects to support, issuing grants totalling SEK5m to initiatives looking to find ways to better treat and understand gambling addiction. Email Address Topics: Casino & games Legal & compliance Lottery People Sports betting Strategy Regions: Europe Nordics Sweden Tags: Mobile Online Gamblinglast_img read more

Affiliate Monitor – October 2019

first_img The second edition of iGB’s new quarterly report looks at a change at the top in the important metric of NDCs, the DFS hurdle in the US, RAIG and M&A since June Subscribe to the iGaming newsletter Affiliate Monitor – October 2019 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Asia Europe UK & Ireland Japan Central and Eastern Europe Nordics Western Europe Romania Sweden France The headline development this quarter is that Better Collective’s stronger momentum in acquiring NDCs, as predicted in our last report, has seen it overhaul Catena Media in this crucial KPI.Catena is still the largest performance marketer among its listed peers based on the headline metrics of revenue and EBITDA, but quarterly NDC volumes have clearly been tailing off since it took its foot off the consolidation pedal.CEO Per Hellberg subsequently announced a number of SEO-focused turnaround measures designed to address a situation the company is ‘clearly not happy’ about and promised analysts they will do better in H2.The Catena boss also revealed the direction of travel in terms of value per individual NDC was in the opposite direction to volume, up to €235 in 2Q19 from €170 in 4Q18.With regulation continuing to subdue performance in markets such as Sweden, Spain, France and Italy, geographic expansion was also a common theme of the Q2 earnings releases and analyst calls, with the likes of Latam, Japan and India – and of course the US – all figuring.In the US, affiliates face several hurdles on top of the state-by-state rollout, not least the huge DFS player databases of FanDuel and DraftKings reducing these brands’ need for affiliates and the absence of online operations in the initial launch phase in some states.Gambling.com Group’s Charles Gillespie also makes the point that US regulators prioritising ‘suitability’ above black and white rules on advertising and problem gambling controls could conceivably see the sector run into the same problems as we are now seeing in the UK and Sweden.We hope you enjoy this report and find it useful. Should you have any suggestions or feedback please don’t hesitate to email me at [email protected] Carter,Editorial director, iGBIf you can’t use the Flash player below you can download the report here. Tags: Card Rooms and Poker Online Gambling Topics: Casino & games Finance Sports betting Bingo Poker Sports betting 3rd October 2019 | By Stephen Carter Email Addresslast_img read more

Betgenius hit by Ukrainian fixture fraud

first_img Regions: Europe Central and Eastern Europe Ukraine Sports betting Betgenius, the sports betting subsidiary of Genius Sports Group, has admitted that it was the victim of fraud, after a series of matches scouted by the supplier were found to have been organised fraudulently.The games in question involved lower-league Ukrainian teams, in an event promoted on social media as the Azoz Cup.Betgenius said the matches appeared to be scheduled and advertised via official sources as cup fixtures between professional clubs, and employed a local statistician to capture data on the games.However, with Ukraine in lockdown as a result of the novel coronavirus (Covid-19) pandemic, these could not take place, and were not sanctioned by the Ukrainian Association of Football (UAF).While some media reports described the games as ‘ghost games’ – matches ‘played’ using falsified data to defraud bookmakers – Betgenius denied this.The supplier pointed out that its match security protocol requires statisticians to create visual and audio recordings to verify that a game is actually taking place.“Therefore we can confirm that games did indeed take place, however we now understand that these games were not played in an official capacity and may have been conducted in a fraudulent manner, likely by a criminal group,” it said.“Unfortunately it has come to light that we, along with many of our sportsbook customers, were the victim of fraud.”Betgenius pledged to support the UAF and local law enforcement in their investigation of the matches in question.“Protecting the integrity of sport is central to a fair, transparent and sustainable sports betting ecosystem and Genius Sports is committed to maintaining the highest standards in securing the integrity of sporting events,” Betgenius said. 2nd April 2020 | By contenteditor Subscribe to the iGaming newsletter Topics: Sports betting Betgenius hit by Ukrainian fixture fraud Tags: Mobile Online Gambling Betgenius, the sports betting subsidiary of Genius Sports Group, has admitted that it was the victim of fraud, after a series of matches scouted by the supplier were found to have been organised fraudulently. Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Dutch online gaming launch delayed again

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Topics: Casino & games Legal & compliance Sports betting The launch of online gaming in the Netherlands has been delayed again, with the Remote Gambling Act now set to come into effect from 1 March, 2021, and the market to open for business on 1 September.In a letter to the lower house of the Dutch parliament, Minister for Legal Protection Sander Dekker confirmed that the legislation would come into force two months later than planned, with the market then opening six months later. “This creates more space for all parties involved to prepare for the new law coming into effect,” Dekker explained.Online gambling in the Netherlands was initially scheduled to launch on 1 January, 2021, but in November 2019, gambling regulator the Kansspelautoriteit (KSA) pushed back the launch date to 1 July, 2021.In June, Dekker warned of further delays, as preparations to launch were disrupted by the novel coronavirus (Covid-19) pandemic.“I do not rule out the possibility of a slight delay,” he said at the time. “I see some room for manoeuvre there.”The KSA said this delay followed discussions with a variety of stakeholders.“The Minister has decided on this timetable after [discussions] with all those involved, including the KSA,” the regulator said.The Dutch government has notified elements of its online gambling regulation to the European Commission for approval.These include a requirement for licensees to create a policy on addiction prevention, while players must set maximum credit allowed on their account, as well as details of technical standards, record-holding and reporting requirements for licensees.Under the new regulations, bonuses will be restricted and players and operators will be barred from advertising gambling-related services between 6am and 9pm, while players may also not receive promotions in this time. Tags: Mobile Online Gambling Casino & games Regions: Europe Western Europe Netherlands Subscribe to the iGaming newsletter 7th September 2020 | By Daniel O’Boyle Dutch online gaming launch delayed again The launch of online gaming in the Netherlands has been delayed again, with the Remote Gambling Act now set to come into effect from 1 March, 2021, and the market to open for business on 1 September.last_img read more

Tab NZ above expectations again with $14.9 profit in September

first_imgTab NZ also paid $500,000 in Racing Integrity Unit (RIU) fees, up 20.0% Topics: Casino & games Finance Sports betting Horse racing Online sports betting Retail sports betting Sportsbook Tab NZ above expectations again with $14.9 profit in September AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter New Zealand’s Tab NZ reported betting turnover of $210.7m, 19.5% over budget and up 14.0% year-on-year, thanks to impressive year-on-year growth in turnover from racing both inside and outside of New Zealand. Domestic racing turnover posted the biggest year-on-year increase, rising 21% to $61m, thanks in part to large numbers of runners.  Regions: Oceania New Zealand Gaming profit, meanwhile, came to $2.0m, in line with budget with gaming venues in New Zealand open for the whole month after closures in August impacted earnings. It did not announce, however, its gaming revenue or turnover. 30th October 2020 | By Daniel O’Boyle Sports turnover growth was slower, rising 7% to $68m, but Tab NZ noted that September 2019 had been a particularly active sports betting month because of the Rugby World Cup. While rugby revenue was down 70%, the expanded number of sporting leagues in action during the month ensured sports turnover still posted year-on-year growth. Subscribe to the iGaming newsletter Tab NZ did reveal its operating expenses came to $9.5m, 2.8% less than budgeted and 19.2% less than in 2019. The operator paid an additional $800,000 in capital expenditure costs, much of which were on product development.  Tab NZ was created in August to replace the Racing Industry Transition Agency, which itself replaced the New Zealand Racing Board a year earlier as part of a planned two-step racing reform process. That process started with the Racing Reform Act, which came into effect in 2019, before the Racing Industry Bill was passed – creating Tab NZ – a month later than expected this year. In August, Tab NZ’s first month of activity, the operator also exceeded expectations. It brought in $32.1m in revenue and made a profit of $12.8m. Horse racing The most bet racing event was the Tarzino Trophy at Hastings, which saw punters stake $695,000. This meant net profit came to NZD$14.9m, 53.6% over budget This resulted in betting revenue of $34.6m – up 17.7% from 2019 and 26.3% from expectations – and turnover of $210.7m, 19.5% over budget and up 14.0% year-on-year. Profits from betting totalled $13.4m, 61.4% over budget. Tab NZ distributed $10.3m of its profits to racing industries, 9.6% above budget. Of this total, $8.3m was in its fixed monthly distribution, while it paid an additional $1.4m in offshore bookmaker commission fees, up 133.3% from budget, and $600,000 in betting duty repeal, up 20.0%. Tags: Tab NZ Racing Industry Transition Agency RITA Betting on overseas racing made up the majority of turnover, as it grew 11% year-on-year to $82m. This packed sporting calendar meant the list of events which attracted the most wagers was diverse, led by a UFC fight between Israel Adesanya and Paulo Costa, with $682,000 in bets, but also including six NRL matches, two NBA games and one rugby union contest. Email Addresslast_img read more

Tree of Light by Evoplay Entertainment

first_imgGame type:Video slotGo-live date (expected):3/12/2020Game special features:RANDOM EVENTThe random event starts when the player finds a question mark. After that, two random low-paying symbols turn into wild symbols.FREE SPINSBefore the free spins game, the first magic pattern appears and activates its own magic pattern feature.PATTERN COMPLETE FEATURETo complete magic patterns, players need to form winning combinations in the positions of the pattern by the end of free spins.FIRST MAGIC PATTERNEach pattern adds a new feature to the free spins gameSECOND MAGIC PATTERNTwo random low-paying symbols turn into wilds after each free spin.THIRD MAGIC PATTERNWilds expand over the reels after each free spin.BONUS GAMEChoose one of three fruits from the Tree of Light. Each fruit gives a winning multiplier. The total win is equal to the win during the free spins game and is multiplied by the winning multiplier.Number of paylines:10Number of reels:5RTP% (recorded/theoretical):96.10%Variance/volatility:High/highStacked or expanding wilds in feature play?YesAuto-play function?Yes AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter You can play a demo of this slot here! 24th November 2020 | By Aaron Noy Subscribe to the iGaming newsletter Tree of Light takes place in the enchanted forest of Winland, where the brave adventurer Lupine and his loyal friend, Mino, embark on the path to the legendary Tree of Light, which grows the most delicious fruits in the world! On their way, Lupine and Mino search for a magic scroll displaying ancient patterns that can be activated by winning combinations. The pattern gives them added strength, so players must do all they can to support their noble quest! Two pals set out to visit the legendary Tree of Light, which grows the tastiest fruit in the world! Email Address Slots Companies: Evoplay Entertainment Tree of Light by Evoplay Entertainment Topics: Casino & games Slotslast_img read more

Industry 2021 predictions: part five – people

first_imgLooking back at 2020, what – other than the Covid-19 pandemic – did you feel was transformational for the industry? And how much of a lasting effect do you think the Covid-19 pandemic will have going forward? Regions: Europe US CB: The battle for talent is intense and as an industry, we need to be on our toes to be able to continue to attract the talent we need to keep innovating. It is a task we have been facing for many years and it is definitely not an easy one as we are competing against many other companies from across various sectors. 19th February 2021 | By contenteditor What type of people or roles do you think the industry might be looking for more than ever in 2021? Camillla Bille Industry 2021 predictions: part five – people Interviewees On the other hand, what do you feel could disrupt the sector or slow progress? Andrew Bulloss: I think Covid-19 and the enforced move to remote working should be a catalyst for permanent change as to how employers structure their workforce. Digital businesses in particular should be thinking in a more sophisticated way about leveraging remote working to attract quality, diverse talent that they may not have had access to before because of where they are based as a business. The ability to open up the talent pool globally and not be restricted by having certain roles in certain offices is significant and could drive a competitive advantage for those willing to embrace this approach. Andrew Bulloss Marwa Mitchell: While US land-based casinos were hit hard in 2020, the online gaming market entered a new growth phase. Two years on from the PASPA repeal, those who have entered the digital space are already experiencing accelerating demand. There’s also already far greater competition, with consumers expecting more sophisticated products and services. All this is driving demand for an ever-increasing quantity and skillset-range of talent. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address MM: Commercial leaders – those who can competently manage North American P&Ls for incoming B2C and B2B businesses entering the market – are already highly sought-after, and demand will increase further still in 2021. As the industry emerges and evolves, demand for talent will move from “only the most senior” to a broader mix of specialisms and skillsets. Other key hires that expanding businesses will be hiring as a top priority in the coming year will be directors of marketing, product and operations (B2C). In all cases, direct industry experience carries a significant additional value. Employers will need a clearly defined talent acquisition strategy and be prepared to compete hard to attract the best people. What do you feel is going to be a game-changer for the industry in the coming year? How the US online gaming industry will hire the skills it requires remains a largely unanswered question. There’s a significant gap between job requirements (both at senior level, and also for the volume of mid-level and junior openings) and available talent. Covid-19’s severe impact on jobs in other sectors will increase the talent pool in some areas, but in 2021 US igaming employers will still need to work hard to attract digital and gambling industry specialists. Openness to remote working should certainly address some of these challenges, widening talent pools beyond the hubs of NJ, PA and NV. Employers will undoubtedly also need to consider hiring for ‘potential’ rather than direct experience. Remote working is also evidently here to stay, certainly in the medium term and perhaps the long term too. In our Employers Survey 2020, we found that productivity rates in the industry had been broadly sustained, with many even reporting an uplift. Yet, as the US igaming industry remains so young, it will surely be difficult to build truly cohesive and high-performing teams from scratch without being in one location. AB: I think this depends on a number of factors, one being regulation, particularly in the UK with the outcome of pending regulation and what that means operators can and cannot do. This has a knock-on effect on talent and people and what sort of roles become important as part of this set-up. With a new president in the US, it will be interesting to see what happens with current US immigration legislation and whether this opens up the US market for European gaming talent. In part five we talk to recruitment experts. In part one we heard from igaming operators and suppliers, in part two, land-based operators and suppliers, part three finance experts and part four those in marketing. In parts six to eight we will focus on technology and innovation, regulation and social responsibility. Camilla Bille, vice president people and culture, Better CollectiveAndrew Bulloss, partner and head of the gaming practice, Odgers BerndtsonMarwa Mitchell, vice president recruitment North America, Pentasia People Camilla Bille: It has been yet another interesting year, with rapid developments in the industry. I will not highlight one transformational event but instead say that technological and regulatory developments, combined with changes in societies across the globe in general, have had a huge impact on the industry. Looking back at January 2020 (which seems just weeks ago) and fast-forwarding to today, I think there are very few industries that can showcase such big developments as the igaming industry demonstrates. That is great fun to be part of. Focusing on the pandemic, just like many other companies, at Better Collective we have found new ways of how we structure work. I think the learnings from this will have lasting impacts on how we continue to work, communicate and collaborate in the future. Last year saw a huge shift in the working patterns of most industries, with many predicting the move to remote working is here to stay. This could provide opportunities for operators to access a broader range of talent, especially in the burgeoning US market. Image: Pixabay Subscribe to the iGaming newsletter MM: The game is already set for serious growth as ever-more states introduce sportsbook legislation. Additional legislation for casino is likely to follow hot on the heels of sports betting, and many land-based operators will be considering how to transition online; perhaps by reskilling existing workforces, or by bringing in new digital-savvy talent. As the industry evolves, businesses should expect tighter regulatory monitoring. There’s a strong business case for ensuring that regulatory compliance is baked into processes from the start, if necessary, by applying best practice as adhered to elsewhere in the world. This experience may need to be sought out through consulting partners initially, though ultimately operators will want to build strong in-house teams of their own. MM: Clearly, the severe ongoing economic downturn is likely to impact our industry. In particular, ongoing disruption to sporting events – which are so critical to driving demand – will hamper success. That said, business leaders and investors are still clearly focused on the long-term ‘big picture’ of the industry’s potential, and this level of confidence is reflected in ongoing team expansion plans, active staff training and increased hiring activity. AB: I think the compliance community in the sector needs a shot in the arm. There are too few people willing to challenge current compliance processes for the good of the customer. Technology, product and UX/UI-based marketing have been the prevalent skills in 2020 and I don’t expect that to reduce in 2021. There is a clear demand for talent in emerging European markets rather than established, mature markets.  AB: The drive for diverse talent has never been higher across all sectors and whilst many gaming employers are looking to create more diverse leadership teams, I would like to see more being done at entry level to facilitate change and create an authentic message to diverse groups that the gaming sector is one that can appeal to them. This authenticity is important – diversity is no longer about optics. Having a diverse board and leadership team as the face of the business is not enough. The benefits of a diverse workforce are clear as day and any organisation that doesn’t get behind this quickly will find themselves chasing others that have. Regulation is forcing organisations to think differently, different answers don’t always come from asking the same people. CB: With 2020 in mind, it is difficult not to look at the pandemic. How will the pandemic develop  and as a result, how will this affect the way organisations work, collaborate and communicate in the future – and again as a result, how will this affect the culture of a company? That will be interesting to follow. We have already taken actions this year to work around the pandemic, e.g. working more from home, further digitised the way we organise and structure cross-team collaborations, etc. The development of the pandemic will continue to impact not only organisations in the igaming industry but it will also be a game-changer for many industries in 2021. Tags: iGB 2021 Predictions Marwa Mitchell Topics: People Diversity HR Recruitment As we look to the year ahead, industry experts share their thoughts on the opportunities and challenges facing the industry.  CB: I think to some degree we will follow the broader developments within the general IT industry, meaning we will continue to look for people who can convert data into meaningful conclusions, as well as developers. At Better Collective, however, we will continue to first and foremost look for people with a curious and ambitious mindset that suits our culture. Lots of private equity-backed businesses are looking for exceptional people to help them transform unsophisticated gaming assets. At a leadership level we will be looking for evidence of the following traits: 1) agility and resilience – decision-making and direction setting under pressure and at pace; 2) authenticity – compassion, empathy, humility; and 3) creating purpose across the company – how does this sense of purpose create loyalty with players and employees and how do you ensure you do the best for both communities?last_img read more

Malta Financial Services Authority grant licence to crypto payments provider Moneybite

first_img The Malta Financial Services Authority (MFSA) has granted a Virtual Financial Assets (VFA) licence to crypto payments company Moneybite, which now becomes one of the first MFSA-licensed companies to provide merchant services worldwide. Email Address Malta Financial Services Authority grant licence to crypto payments provider Moneybite “It is a huge moment for us to be awarded our MFSA licence and become one of the first operational MFSA-approved companies to service merchants globally, including MGA licensed gambling operators.” said Moneybite managing director Elton Dimech. 7th May 2021 | By Marese O’Hagan Moneybite’s current services include invoicing and payments to international suppliers. Corporate customers can also buy and sell cryptocurrency with Moneybite’s over-the-counter service. The VFA license will allow Moneybite to receive and process order, custodian and nominee services. It will also authorise Moneybite to execute orders on behalf of account holders. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Southern Europe Malta Topics: Legal & compliance Compliance Legal Licensing Regulation “We see this as a regulatory sunrise for the industry. Transacting with crypto should not generate concern but be as easy for businesses as dealing with traditional fiat currency. We are here to act as that trusted bridge between the two.” However, Moneybite will mainly provide services to operators licensed by the Malta Gaming Authority. Tags: Malta Gaming Authority Cryptocurrency Subscribe to the iGaming newsletter Legal & compliancelast_img read more