The new online casino, which has earned a license from the Isle of Man Gambling Supervision Commission, will be the first site operated by GoodGaming to accept financial transactions using cryptocurrency.
All deposits, bets and withdrawals at the new site can be made using the CasinoCoin currency, which is growing in popularity among online casino gamers.
The CasinoCoin platform has a number of advantages for casino operators. Its bankroll manager feature enables casinos to ensure that their regulatory obligations are met, while also allowing players to sign up to any CasinoCoin-powered site with just one registration.
It also gives customers the power to make instant withdrawals and deposits.
Speaking about the new site, the chairman of GoodGaming, Oliver Wu, said that the company were excited to be launching their debut cryptocurrency platform, which will enable them to become part of one of the fastest-growing sectors of the online gambling industry.
Describing CasinoCoin as ‘the blockchain for gambling’, Wu said that it would offer players a number of positive features, including rapid registration, quick financial transactions and low user fees.
And he also emphasised that the CasinoCoin model made it easier for a company like his to scale their operation as it continues to grow in the regulated online casino market.
The license for the new site will be overseen and monitored by Blockchain Isle of Man, one of the most prominent gaming regulators in the cryptocurrency sector.
Regulator Keeps Close Eye
Commenting on the launch of the site, the director of advocacy for the CasinoCoin Foundation, John Caldwell, said that they had been working with both GoodGaming and the Isle of Man regulator to produce a platform that was in full compliance with market regulations and that they hoped to be able to provide what he described as a ‘world-class crypto gambling experience’ for GoodGaming players.
The deal also continues a busy period for CasinoCoin. At the end of November, the organisation teamed up with Omnia Casino to launch a new online casino token system that will form the basis of a new customer loyalty program for the site.