CashBet Raises $38m for First Global Crypto-Ready Mobile Platform
We have reported extensively on the rise and fall of crypto currencies over the last few years. The volatility and of virtual currencies like Bitcoin have attracted more than just gamblers and the overall consensus is that this sector is not merely a temporary fad but is set to grow and become a major market in the online casino industry.
One of the leading players in this emerging market is that of CashBet who have just raised $38m to develop the first global crypto – ready mobile gaming platform. According to the Channel Islands registered CashBet, their initial coin offering (ICO) is the largest of its kind to date and included people from over 100 countries around the globe who assisted CashBet to reach its hard cap of 142,975,000 tokens.
The purpose of integrating into a crypto-based casino is clear as it will allow operators to save money on transaction fees as well as offer increases transparency.
CEO and co-founder of CashBet Mike Reaves commented on the successful ICO and said,” The success of the CashBet Coin token sale demonstrates a clear need for compliant, user-friendly iGaming solutions, We look forward to continuing to build the CashBet community and deliver on our roadmap to develop the world’s first complete crypto-ready mobile iGaming platform.”
CashBet’s current partners include English premier League Arsenal football club, lottey.com, Greentube and Imperial Play.