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Cryptocurrency

Eminence enters breakthrough partnership with Chimoney

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The deal brings even more utility to users of CasinoCoin who can now purchase gift cards and in-game credits

Eminence Holdings, the B2B and B2C gambling and cryptocurrency technology provider behind the cutting-edge Casino Lobby, has added more utility to its innovative CasinoCoin (CSC) by joining forces with Chimoney.

Chimoney is the developer of platforms, APIs and in-app embeddable apps that enable businesses to transfer value and increase the utility of their products, tokens or projects. This means that CSC holders can now purchase popular gift cards (the likes of iTunes, Amazon and Uber eats) as well as in-game credits (for FIFA, CoD, and GTA, plus many more).

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The CasinoCoin token has long been available to purchase through a number of exchanges and is on the XRP Ledger (XRPL) as an issued token. Eminence’s revolutionary Casino Lobby is offered within the XUMM wallet, which ensures true utility for CSC holders and users.

On a mission to harness the power of blockchain, Eminence wanted to take utility to the next level and engaged Chimoney which had recently launched ChiSpend, an easy-to-use embedded app allowing XUMM users to purchase gift cards, airtime and mobile money with XRPL issued tokens.

Chimoney then created a simple API to allow third parties such as Eminence to use ChiSpend in their applications and to unlock additional utility for their tokens.

Uchi UchibekeFounder of Chimoney, said: “The value being created and earned in gaming, virtual worlds and metaverses needs to be spent by the earners. Eminence understands this and is going to great lengths to constantly add utility to CasinoCoin.

“Chimoney is making that possible and we’re looking forward to enabling earners of CasinoCoin to use their tokens for real products and services that add value to their lives.”

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Daniel KellerChief Technology Officer at Eminence, added: “I’m so excited to see more solutions to unlock value hitting the XRP Ledger. We’re delighted to be going live with Chimoney and to be allowing users of CasinoCoin to not only unlock value but to be able to transfer it.

“Our mission is to harness the power of blockchain and it is through breakthrough agreements such as this with Chimoney that ensure we keep working towards that goal while also continuing to take our product and proposition to the next level.”

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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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Cryptocurrency

Betting on Crypto: How Crypto Casinos are Driving Mainstream Adoption

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Author: Scott Major, CCO, Transact365

In the digital age, two revolutionary trends are converging to reshape the landscape of financial entertainment: cryptocurrencies and online gambling. At the forefront of this intersection are crypto casinos, innovative platforms that are not only leveraging blockchain technology but also driving the widespread adoption of digital currencies.

By integrating digital assets into an engaging and familiar activity like gambling, crypto casinos are introducing a wider audience to the practical uses of blockchain technology. Conversely, the growing popularity of cryptocurrencies is attracting more users to online gambling platforms, expanding the reach of such platforms to tech-savvy individuals who prioritise privacy and decentralisation.

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Crypto Casinos: Pioneering Adoption

Crypto casinos represent a new frontier in the gambling industry, leveraging blockchain technology to offer players a secure, transparent, and decentralised gaming experience. By accepting cryptocurrencies like Bitcoin, Ethereum, and others, these platforms provide users with unparalleled privacy, faster transactions, and lower fees compared to traditional fiat currency casinos. This alignment with the ethos of decentralisation and financial sovereignty inherent in cryptocurrencies has attracted a growing number of tech-savvy users and early adopters to the world of online gambling.

Moreover, crypto casinos are not just leveraging cryptocurrencies; they are actively promoting their adoption. In fact, crypto casinos are expected to become more mainstream by the end of 2024.  Players who may have been previously unfamiliar with digital assets are now acquiring and using them for entertainment purposes, thereby integrating cryptocurrencies into their everyday lives. This increased exposure to cryptocurrencies through gambling fosters a deeper understanding and acceptance for their utility and benefits beyond the gaming sphere. Therefore, as cryptocurrencies gain wider acceptance, more traditional gamblers are likely to explore crypto gambling options. This trend could expand the market share of crypto casinos within the overall online gambling industry.

The Ripple Effect: Cryptocurrencies and Online Gambling

Cryptocurrencies are also revolutionising the online gambling industry by addressing long-standing challenges related to payment processing. One of the critical barriers for traditional online casinos has been the inefficiency for certain underbanked sectors and at times costliness of payment solutions –  exacerbated by stringent regulations and geographical limitations. Cryptocurrencies circumvent these hurdles by offering a decentralised payment method that operates across borders with minimal fees and swift transaction times.

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An efficient payment solution is paramount to maximising the synergy between cryptocurrencies and online gambling. Crypto casinos have capitalised on blockchain technology’s ability to facilitate instant and secure transactions, ensuring seamless deposits and withdrawals for players worldwide. This efficiency not only enhances the user experience but also expands market reach by attracting players from regions where traditional banking systems may be unreliable or inaccessible.

Harnessing Efficiency for Growth

By streamlining financial transactions through blockchain technology, crypto casinos are able to offer competitive advantages that resonate with today’s digital-first consumers. This includes faster payouts, reduced transaction fees, and heightened security measures that inspire trust and confidence among players.

The rise of crypto casinos is not merely a trend but a transformative force that is propelling the adoption of cryptocurrencies and reshaping the online gambling industry. By embracing blockchain technology and user-friendly crypto and local payment solutions, these platforms are fostering a symbiotic relationship that not only benefits both industries but most importantly the customers alike.

The post Betting on Crypto: How Crypto Casinos are Driving Mainstream Adoption appeared first on European Gaming Industry News.

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