XDA.io Ushers Game-Changing Crypto Casino Payments
by Oskar Trotman
Banking is an important part of the online gambling industry, and the crypto sector receives a new boost with the launch of XDA.io. An innovative platform combining cryptocurrency and fiat payments for casino sites. The project is the brainchild of Andria Evripidou, a former manager at Revolut and Chief Banking Officer at Xace.
The XDA.io platform is one of the answers to the increased demand by operators for a streamlining cryptocurrency banking ecosystem for the gaming community. The cutting-edge platform will be available on licensed online casino sites that strive to simplify payments by using a single application for fiat money and cryptocurrency transactions. XDA.io provides Curacao-licensed businesses with a comprehensive suite of products but is also compatible with nearly all online gaming licenses.
Although the mainstream sector is hesitant about the full-scale adoption of cryptocurrencies, the iGaming scene is more open-minded. The fast pace of blockchain adoption in online gambling is a financial platform that can satisfy the unique requirements of casino sites handling crypto and fiat accounts.
Global Banking Reach
Apart from the convenience of use, this platform offers fast transaction speeds. The processing time frames start with the shortest 10 seconds for a SWIFT transfer, it takes up to 5 minutes for a FPS, and SEPA is the longest with 8 minutes.
The collaboration with major banking and financial institutions globally is one of the big advantages of XDA.io. This support network provides more stability and credibility to the application and uninterrupted service. XDA.io is accessible to players in over 200 countries and supports several currencies, enabling clients to send money across the globe without limitations.
Aside from the technical characteristics of the platform and global reach, its commitment to security and regulatory compliance ensures a seamless flow of funds. The team harnessed decades of intricate experiences in the gambling industry and regulatory landscape and can offer banking solutions that fit clients’ unique needs.
Tool For an Emerging Market
The most recent data indicates there are 420 million crypto users in the world. However, the crypto share of the online gaming market is relatively small. According to 2023 estimates, crypto transactions account for around $250 million from the entire $93-billion gambling industry. The need for quick and safe transactions should not be overstated.
At the end of 2021, about 304 crypto casinos were active online, from which 30% worked exclusively with tokens, while the other 70% were hybrid, accepting both crypto and fiat currency.
The XDA.io platform targets this share of players, who, on average, spend about $3 million in crypto on casino games daily. Several crypto casinos have already accepted the XDA.io platform, and its broader adoption will serve as a bridge for further crypto integration and efficient banking for the gaming community. However, XDA.io is not the only payment platform catering to crypto players. Other brands are also trying to secure a market share, and the competitiveness can result in lower fees for players and better service over time.