ForumPay Partners with ZBX to Bring Crypto Payments to the Gaming Industry in Malta

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ZURRIEQ, Malta – (BUSINESS WIRE) – ForumPay, the global provider of cryptocurrency payment technologies, is delighted to announce a partnership with ZBX, the Maltese crypto exchange to enable more than 250 million cardholders to Crypto wallets around the world to use their crypto for deposits with local iGaming sites.

Partnering with ZBX, a Class 4 VFA service provider with MFSA (Malta Financial Services Authority) enables ForumPay to offer the first fully compliant crypto payment solution for MGA (Malta Gaming Authority) licensed game operators and their players.

Thanks to this collaboration, the deposit experience is even easier than using a credit card. To make a deposit with their favorite crypto and wallet, a player simply scans the QR code presented in the online checkout. Crypto is instantly converted to FIAT at the best exchange rate available for deposit to the player’s account.

After this quick step, the iGaming site will automatically be informed of the FIAT crypto equivalent allocated to the player so that they can access the funds immediately to play. This hassle-free process is a major step in the adoption of crypto in the gaming world, as it allows crypto holders to convert only the amount they plan to bet with.

The tie-up comes after management teams from both companies spent time with regulators to establish a crypto payment stream that is sensitive to the KYC and AML requirements of gaming operators and meets the requirements of the MGA and MFSA.

Josh Tate, CEO and Co-Founder of ForumPay, said: “It is exciting to work with such innovative companies and regulators to meet massive market demand from operators and players. Facilitating crypto payments in the iGaming space has major benefits, such as amplifying the player base, fraud protection for casinos through instant verification of funds, and paving the way for l massive adoption of cryptocurrency in a fully compliant environment.

Ian Dawson, CFO of ZBX, said: We are privileged to be a part of the growing iGaming crypto ecosystem in Malta. It is exciting for us to explore the full use cases of our technology and VFA in providing cryptocurrency solutions with ForumPay. We expect the harmonization of crypto technology, regulation and services to improve and intensify, and we look forward to working with leading companies around the world in the delivery of our services. .

ForumPay is a full-service fiat payment technology company. Our core processing technology helps businesses attract new customers, optimize their ability to spend, and increase revenue by onboarding over 250 million crypto consumers around the world. Our wallet agnostic solution enables the entire crypto consumer community to spend with their favorite cryptocurrency and from their preferred wallet for everyday goods and services. Our services eliminate the exposure or risk of traders by processing the transaction with instant conversion from crypto to traditional currency. Our merchants simply receive their payments in the currency of their choice directly to their preferred bank account. The transaction experience is the same as accepting credit cards or other popular payment options, but simpler, faster and more secure.

In today’s competitive environment, ForumPay is a great tool for businesses to gain a serious competitive advantage with the world’s fastest growing consumer segment. Over 5.6 million wallets were downloaded in January of this year alone. Studies show that 40% of consumers who spend crypto with merchants are actually new customers, hence our characterization of ForumPay as a customer acquisition tool. Additionally, crypto consumers are shown to spend twice the AOV compared to a typical credit card consumer illustrating the attractive and affluent demographics.

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