ForumPay, the global cryptocurrency payments technology provider, has entered into a partnership with the Maltese crypto exchange ZBX.
The partnership with ZBX, a Class 4 VFA Service Provider with the MFSA (Malta Financial Services Authority), enables ForumPay to offer the first fully compliant crypto payments solution for MGA (Malta Gaming Authority) licensed gaming operators and their players.
The tie up comes after the executive teams of both companies spent time with the regulators to establish a crypto payments flow which is sensitive to the KYC and AML demands on the gaming operators and meets the requirements of the MGA and MFSA.
“It is exciting to work with such innovative companies and regulators to meet a massive demand in the marketplace from both operators and players. Facilitating crypto payments in the iGaming space has major benefits, such as amplifying the player base, fraud protection for casinos through instant verification of funds, and paving the way for the mass adoption of cryptocurrency in a fully compliant environment,” Josh Tate, CEO and co-founder of ForumPay, said.
“We are privileged to be a part of the growing crypto iGaming ecosystem in Malta. It is exciting for us to explore the full use cases of both our technology and the VFA Act in the provision of fiat-crypto solutions with ForumPay. We fully expect that the harmonization of crypto technology, regulation and services will improve and increase, and we look forward to working with world leading businesses in the provision of our services,” Ian Dawson, CFO of ZBX, said.