Xace secures FCA licence to provide Gaming friendly accounts and virtual debit cards
Xace the world’s first digital banking platform designed for Gaming, is now approved by the UK’s FCA to provide financial services in the UK and Europe.
Xace develops digital bank accounts and allows casinos, bookmakers and gaming operators to safely send and receive payments without needing to use traditional banks. Named IBANs for Euro payments via SEPA and Faster Payments for GBP are now available from Xace, who can also provide account solutions for casinos licensed out of Curacao.
With Virtual Debit Cards due to launch on the Visa network, Xace customers will be able to manage their payments dynamically based on their tailored needs, from slot machines to sports betting from exchanges to casinos, in both GBP and Euros.
Xace was created to become the go-to financial solution for operators and customers in Gaming. Developed by a team who have operated in financial services specialising in gaming and cryptocurrency for the last six years. Since enabling applications in July, over 1000 gaming businesses and players have requested accounts with Xace.
Having witnessed their clients accounts blocked, stopped or even closed, despite meeting compliance guidelines. Xace has solved a major industry headache for licensed casinos, operators and players who no longer need to use traditional banks in order to process payments.
Founder and Xace CEO David Hodkinson: “Approval from the FCA is a significant step in our journey to becoming the go-to digital banking platform for gaming enthusiasts, high rollers and businesses. Xace has been designed for the gaming industry and this approval is testament to our extensive understanding, knowledge and experience of compliance in the industry.”