SOURCE: GoCoin

GoCoin

October 23, 2014 03:00 ET

GoCoin Prepares Cozy Games to Accept Bitcoin and Cryptocurrency Payments

First Regulated iGaming Operator to Start Accepting Cryptocurrency

BERLIN, GERMANY--(Marketwired - Oct 23, 2014) - Today at EiG2014 GoCoin announced an agreement with Cozy Games preparing the iGaming operator to accept cryptocurrency as a more cost-effective payment method. Once integrated with GoCoin, Cozy Games will be the first regulated iGaming operator in the world to successfully adopt digital currencies like Bitcoin, Litecoin and Dogecoin as approved payment options.

GoCoin is the first e-commerce payment solution designed to process bitcoin and emerging altcoins for gaming and international operators considered "high risk" by traditional payment networks. With recent gambling tax reform changes like the UK's impending Point of Consumption (POC) Tax, operators are actively seeking lower cost payment alternatives to improve margins.

By most accounts, gambling represents approximately half of all Bitcoin transactions. Cryptocurrencies offer a truly global payment method without third party intermediaries. By partnering with GoCoin, Cozy Games will enjoy a dramatic reduction in costs associated with credit card transactions, chargebacks, and cross-border fees -- all without having to worry about the security, volatility or complexity of handling coins directly.

"GoCoin is the frontrunner bringing deep cryptocurrency expertise to the regulated iGaming sector, which was key in our decision to integrate their platform," said Sreeram Reddy, CEO of Cozy Games. "GoCoin's solution is adaptable and compliant with Internet gaming law, allowing us to safely adopt the latest payment innovations while focusing on our core strength of delivering an excellent online experience for our players."

"By accepting cryptocurrencies through the GoCoin payment platform, regulated online gambling operators can engage new markets like the underbanked that are historically difficult to reach," said Steve Beauregard, co-founder and CEO of GoCoin. "Our engineers are actively working with regulators to develop clear guidelines that stay within the law while also respecting a player's right to privacy."

As a licensed operator, Cozy Games subscribes to responsible gaming policies and does not allow gambling by any person under the age of 18. GoCoin's KYC procedures work seamlessly with an operator's to ensure money coming into the gateway is under the custodianship of the identified player and that the player actually owns their bitcoin wallet.

About GoCoin
GoCoin is the first international payment platform for bitcoin and emerging digital currencies, making it easier than ever for online and retail merchants to accept Bitcoin, Litecoin, and Dogecoin at checkout. GoCoin insulates merchant operators from the complexities and volatility of alt-currencies by settling transactions in the currency of their choice. Founded in July 2013, GoCoin is an international group of companies with offices in Singapore, London, Douglas, Boston and Santa Monica. For more information, please visit http://www.gocoin.com.

About Cozy Games
Founded in 2005, by a team of gaming industry veterans, Cozy Games has emerged as one of the top innovators in the industry to date. The company brings decades of experience and a global workforce to ensure that products and services advance the business requirements of every customer and meet budget requirements. Cozy Games also has a product suite of over 90+ games which include bingo, classic and video slots, table games, scratch cards and network jackpots. www.CozyGames.com

Contact Information

  • Eric Benz
    GoCoin Operations Director
    EMEA
    Phone: +44 786 226 3280
    Email Contact