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Cozy Games Partners With GoCoin To Offer Cryptocurrency Payment Option

Bitcoin and online gaming partnerships are still the exception and not the norm but the appeal of cryptocurrencies like Bitcoin and Litecoin are capturing the attention of the iGaming industry.

While still considered volatile by many Bitcoin has distinct advantages especially in terms of reduced transaction fees. This week saw another interesting development as cryptocurrency payment processor GoCoin who offer merchants the ability to accept Bitcoin and Litecoin payments announced a partnership with Cozy Games which will see it provide the payment option of cryptocurrencies to their iGaming customers. This is somewhat of a first as Cozy Games will become the first regulated iGaming company to accept cryptocurrencies.

Cozy Games are regulated under the Isle of Man Gambling Supervision Commission and are required to adhere to age restriction which adds additional levels of account verification for accepting Bitcoins.

Many banks treat the iGaming industry as high risk and charge a hefty transaction fees to overcome this. Cozy games will be able to attract alternative customers who are not tied down to the traditional banking system.

Founder and CEO of GoCoin commented on the new partnership with Cozy Games,” By accepting cryptocurrencies through the GoCoin payment platform, regulated online gambling operators can engage new markets like the underbanked that are historically difficult to reach. Our engineers are actively working with regulators to develop clear guidelines that stay within the law while also respecting a player’s right to privacy.”

Cozy Games CEO Sreeram Reddy Vanga explained their thinking behind the strategic move,” GoCoin is the frontrunner bringing deep cryptocurrency expertise to the regulated iGaming sector, which was key in our decision to integrate their platform. [The] solution is adaptable and compliant with internet gaming law, allowing us to safely adopt the latest payment innovations while focusing on our core strength of delivering an excellent online experience for our players.”

Author: Victor

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