Mystino.com, an online casino, has teamed up with SG Veteris, a cryptocurrency payment processor that has enabled the company to accept payments in digital currency. SG Veteris’ proprietary in-house solution, Bitpace, enables Mystino and other vendors to accept cryptocurrency as a viable form of payment.
Bringing New Payment Options to Mystino
The company argues that thanks to this solution, payments are protected from price volatility. Essentially, Bitpace allows for rapid, on-the-spot conversions of FIAT into cryptocurrency and vice versa which enables Mystino players to have another payment option viable to them.
Mystino believes that the incorporation of this payment solution also unties the operator’s hands when dealing with larger deposits. Unlike the mainstream financial system, blockchain-enabled payments are usually if not quicker, then at least easier to clear, because the authentication of each transaction is done automatically by the underlying technology. Mystino further commented:
We are committed to providing flexibility in the banking and payment methods that are available to our customers and are looking forward to a successful partnership with SG Veteris.
Mystino is also happy that Bitpace is easy enough to integrate and adds no stress to the day-to-day operations of the casino, which allows the company to focus on improving the consumer experience completely. SG Veteris CEO Anil Oncu was equally pleased with the opportunity and had this to add:
Accepting crypto through Bitpace is a quick and easy process and as a global business, Mystino can benefit from easy cross-border trade as cryptocurrencies are not subject to foreign currency transaction fees, local taxes, or exchange rate fluctuations.SG Veteris CEO Anil Oncu
Making Cryptocurrency Payments Accepted
In the end of it all, SG Veteris wants to make sure that crypto payments and transactions are a seamless and intuitive process and through that help with the further adoption of the solution.
Recently, the Northern Territory Racing Commission in Australia launched a public consultation seeking input from licensed gambling companies on whether the implementation of cryptocurrencies for the purposes of sports wagering and paying winnings was something companies would be interested in. Pinnacle Solutions has also recently explored blockchain capabilities with the help of Azuro.