BetConstruct continues to embrace crypto as MGA permits player deposits

The Malta Gaming Authority (MGA) has permitted BetConstruct to allow player deposits using cryptocurrency, as the firm’s engagement with blockchain continues.

The Armenia-based betting technology firm’s white-label partners will be able to receive cryptocurrency deposits, seeking to widen their customer base.

Specifically, the company aims to ‘grow its operation’ by targeting players that use cryptocurrencies and ‘increase their satisfaction and engagement’. 

“BetConstruct’s aspiration to always innovate and provide its partners with the latest and most effective tools and options to compete and grow their operations, has made this approval possible,” a statement from the firm read.

The company’s engagement with crypto and blockchain was taken up a notch last year, particularly in H2, having adopted Fastoken as its primary payment method in November.

FTN is the “official cryptocurrency” of the Fastex ecosystem, a Web3-driven exchange developed by SoftConstruct, and the company aims to help its partners stay “ahead of the curve” on Web3 developments.

In a statement at the time, BetConstruct explained: “With Web3 being the wave of the future in business and payments, we believe that this initiative is a great opportunity for BetConstruct and its partners to stay ahead of the curve and provide the industry with what is relevant and necessary for building a successful business.”

The cryptocoin was then later adopted by FeedConstruct, which will make FTN available as a payment method from 1 February 2023 onwards, describing the development as a ‘breakthrough’ moment.