Crypto payments firm Moneybite expands into igaming
Payments specialist lands Maltese licence to offer services to operators across the globe
Crypto payments company Moneybite has been granted a licence by the Malta Financial Services Authority (MFSA), allowing it to branch into the igaming industry.
The start-up will become one of the first MFSA-approved companies to provide merchant services globally, including to operators which hold a Malta Gaming Authority (MGA) licence.
The MSFA licence will allow Moneybite, as a Virtual Financial Assets (VFA) Service Provider, to provide reception and transmission of orders and services.
Moneybite acts as a bridge between the worlds of crypto and fiat currencies and is a fully-compliant solution for companies looking to leverage crypto payments.
Elton Dimech, Moneybite MD, said: “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.
“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,” he added.