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Cryptocurrency

FACEIT partners with crypto fintech platform Cake DeFi in multi million dollar deal that will allow players to earn cryptocurrency

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FACEIT, the world’s leading platform for competitive online gaming, has today announced a multi-million dollar partnership with Cake DeFi, one of the world’s fastest growing crypto fintech platforms, which allows users to earn cash flow from their crypto. Facilitated by Pivot Agency, the collaboration will provide Cake DeFi with authentic brand exposure to all FACEIT users globally through a series of bespoke and multifaceted gaming experiences which will offer the community a chance to win crypto. This year Cake DeFi will be offering players more than half a million dollars in prizes, paid in crypto.

Research suggests that 55% of the Millennials gamers own crypto as compared to just 5% of all Millennials1, illustrating the natural connection between the gaming and crypto industry.

The partnership with FACEIT marks Cake DeFi’s first move into the gaming and esports space. The agreement will offer the company access to FACEIT’s 25 million user base, the largest network of competitive gamers, and will offer players a unique opportunity to earn actual crypto prizes while playing. Furthermore, through Cake DeFi’s platform and access to decentralised finance applications, they can compound their winnings and earn returns on their crypto.

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Michele Attisani, Co-Founder & CBO of FACEIT said:  The FACEIT platform is home to the largest community of competitive gamers, which means we have a unique understanding of this audience. Our users are incredibly forward thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest. The collaboration with Cake DeFi is much more than brand integration, and offers our community clear experiential and financial benefits which go beyond what any partnerships of this type has delivered before.

FACEIT users are core gamers who spend an average of 2.5hrs a day on the platform. A recent survey of FACEIT users found that many were already interested in, and investing in crypto, showing a natural synergy between both brands and industries:

  • They are innovative thinkers with 66% agreeing that cryptocurrencies are the future of online transactions
  • 80% have heard of Crypto
  • 36% invest in Crypto
  • 46% very Likely or Likely to use Crypto in next 12 months – 4x more likely than the general population to use Cryptocurrency for online purchases

The partnership will incorporate Cake DeFi Missions, involving in-game tasks and monthly challenges for players to complete in order to win crypto prizes. It will also include Cake DeFi Weekly Tournaments which will run throughout the year and will be open to FACEIT players around the world. Players will be able to earn even greater rewards on the crypto they win when they sign up to Cake DeFi. All crypto prizes are redeemable through their Cake DeFi account, allowing FACEIT to expand its current play-to-earn offering.

Speaking about the partnership, Dr. Julian Hosp, CEO and Co-Founder of Cake DeFi said, “Gamers have a natural affinity with crypto and they can now join us on the DeFi movement. Cake DeFi’s partnership with FACEIT will allow players to earn crypto while they game, and further earn returns on their crypto through our platform. In 2021, we paid out US$230 million in rewards to our customers. So it’s a win-win-win for FACEIT gamers.”

Cake DeFi is the leading crypto fintech platform that provides users access to DeFi (decentralised finance) services and applications such as liquidity mining, staking and lending, which generates regular returns for users. They currently manage over $1 billion in customer assets and offer users one of the highest returns on crypto in the market, as a one stop platform that is easy-to-use, secure and transparent. Last year they paid out $230 million in rewards to customers and this year they are looking to increase this to 74% more, or $400 million, in rewards.

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Cryptocurrency

Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe

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As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.

The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.

This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.

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Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,

Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.

“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”

The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.

This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.

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Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:

  • Date: November 14, 2024
  • Time: 12:00 CET
  • Platform: X Spaces

The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.

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Cryptocurrency

SCCG Management Announces Sponsorship Partnership with Hoppa! Card

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SCCG Management, a leading advisory firm in the global gaming industry, has announced a sponsorship partnership with Hoppa! Card, a pioneer in crypto payments and banking solutions. This collaboration is set to revolutionize the payment landscape for the gambling industry with a strong focus on crypto technology, leveraging SCCG’s extensive ecosystem of over 120+ client partners and its global presence across all major regions.

Through this partnership, SCCG Management will support Hoppa! Card in delivering their innovative crypto payment and banking solutions to a wider audience within the gaming industry. The synergy between SCCG’s expansive network of client partners and Hoppa! Card’s cutting-edge financial technology aims to enhance the efficiency and security of managing complex payment needs in the gambling sector.

Hoppa! Card’s flagship products, including the Exclusive Global Soft KYC High Limit Crypto Offramp VISA Card and the Unique Payment Gateway, are designed to meet the most challenging payment requirements. The VISA Card offers high limits and the highest possible privacy standards with anonymous cards, ensuring global accessibility with both virtual and physical card options. The Payment Gateway provides seamless processing for various crypto and fiat transactions, eliminating chargebacks and non-acceptance of cards, while catering to all gaming licenses and jurisdictions.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Partnering with Hoppa Card allows us to provide our clients, as well as our global network of operators and platform providers, with crypto-focused payment solutions that are crucial in today’s fast-evolving gaming industry. Their innovative products align perfectly with our mission to drive strategic growth and maximize revenue for our partners.”

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Igor Lavrih, CEO of Hoppa Card, said: “We are excited to kick off the partnership with SCCG, merging our payments expertise with their deep market insights to explore new opportunities and drive innovation. We look forward to the synergies our partnership with SCCG will bring forward, delivering unique payment solutions in the gaming industry to an array of growing and established businesses.”

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Compliance Updates

Payhound Selects Chainalysis’ Crypto Compliance Solution for Regulatory and Operational Safety

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Fintech crypto company Payhound has selected Chainalysis, the blockchain data platform, to safeguard operations from exposure to malicious activity and uphold strict compliance standards.

With a strong commitment to combating illicit activities and a regulatory obligation to safeguard its customers, Payhound has chosen Chainalysis as part of its compliance and risk management strategy. This collaboration underscores Payhound’s dedication to maintaining top-tier regulatory compliance and security standards within the industry.

Chainalysis is leading the way in establishing a safe global economy built on blockchains through its blockchain data platform, which assists businesses and governments in making informed decisions and protecting their customers. By implementing Chainalysis solutions, companies gain access to a suite of investigation, compliance and risk management tools.

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Michele Santulin, Regional Director Mediterranean Area at Chainalysis, said: “In today’s crypto market, where trust is key to success, companies like Payhound need to take advantage of blockchain’s built-in transparency and use advanced blockchain analysis solutions to maintain strict adherence to regulations, protect their brands, and last but not least, offer reliable services to their customers. We are thrilled to support Payhound in that mission.”

Elton Dimech, Managing Director at Payhound, said: “Chainalysis is an invaluable resource for companies such as Payhound. Their forensic data and analytical approach, allowing for continuous crypto transaction monitoring, has proven indispensable in an effort to adhere to our own AML and Compliance obligations.”

The post Payhound Selects Chainalysis’ Crypto Compliance Solution for Regulatory and Operational Safety appeared first on European Gaming Industry News.

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