Bitline App Promises Crypto Liquidity for Casino Players
by Oskar Trotman
Crypto casino payments provider Bitline recruited Everi Holdings, a developer of gaming solutions, to enhance the capability of its new crypto payment app, according to a recent report in the Las Vegas Sun. The new mobile app is expected to launch in the first quarter of 2024 and will provide unique cryptocurrency solutions for casino players.
According to a recent interview with Richard Jones, CEO of Bitline, the idea for the project stems from the need to create a direct mechanism for taking digital assets and using them in a functional way for playing in the casino space.
The product harnesses blockchain technology to offer gamblers from across the globe instant access to digital assets worth up to $10 million in casino chips at any time of the day. The project has been in the works for over a year, with Everi Holdings being the latest partner to join the project after Bitline previously secured a collaboration with Fireblocks and ChipherTraceto.
The Bitline app aims to provide players with liquidity by enabling them to access their cryptocurrencies within 20 minutes. On the other side of the transaction, casino operators benefit from a service that provides security and compliance with industry and legal regulations.
Crucial Partnerships to Revolutionize Casino Payments
The latest in a sequence of key partnerships indicates a commitment to creating a robust product, offering impeccable security, verification processes, transaction monitoring, and regulatory compliance. CEOs and presidents from all companies included in the app’s development have emphasized their goal to create a product that will improve the industry’s financial stability. And that’s achievable only through collaborative efforts.
According to Everi’s executive Victor Newsom, partnerships such as the one forged with Bitline are necessary to expand a company’s capabilities and create new products in a highly regulated industry such as iGaming. Additionally, the choice of partner was made with compliance in mind. Newsom is confident that the app will reliably serve the industry.
Fireblock, the other big partner, contributes by offering a safe framework for token storage, transfer, and issuance. The company offers sophisticated SGX & MPC technology, which empowers exchanges, various types of financial institutions, and custodians to increase their digital asset operations.
Game-Changing Payment Technology?
The rapid adoption of blockchain for crypto gambling generates demand for a reliable transaction infrastructure and safeguarding digital assets from hacker threats. Several companies are working on innovative solutions, and Bitline’s app is one of the latest efforts to create a real-world asset management system for gaming, with aspirations to expand into new markets after its launch.
The announced collaboration promises to produce revolutionized casino payment solutions with the capacity to enhance the customer experience. Undoubtedly, the online gambling market requires payment providers to offer convenience, regulatory compliance, user control and managing of digital assets, and speedy transactions for operators and customers.