Decentralised B2B casino platform FunFair Technologies lauds “another industry first” after the company has been accepted for Isle of Man’s Tier One Token Supplier License. By obtaining permission, the blockchain casino technology provider emphasises that it is a main element of its continuing development ambitions, as well as a broader business strategy focused on controlled gambling.
Stefan Kovach, CCO at FunFair Technologies, said of the licence approval: “We’re incredibly proud and excited to have been approved for a license from a tier one gaming jurisdiction.
“Not only does this legitimise FunFair’s blockchain gaming ecosystem, but it also keeps us right there as a leader at the forefront of regulated, decentralised technology and token-based gambling.”
Securing the provider license means enabling the company to operate within a tier one gaming jurisdiction, ensuring complete compliance with its laws and safeguarding FunFair-powered casino clients and end users further.
It also positions the business in front of the licensees of the Isle of Man, allowing it to drive home the advantages of blockchain and the FunFair platform to ignore businesses through their white label and licensed offering by the operator.
FunFair has also set up FunFair Holdings (IOM) Ltd, based in the Isle of Man, as part of the licensing system, to work closely with legislative bodies and other licensed island-based organisations.
Lyle Wraxall, CEO of Digital Isle of Man, explained: “Digital Isle of Man is delighted to welcome FunFair to the Isle of Man as the first operator to obtain a token-based software supplier licence in our jurisdiction.
“The agency is continually working to develop the Island’s digital sectors, and what makes this license so exciting for us is that it links two of our key sectors; egaming and blockchain.
“As an addition to our cluster of digital stakeholders, FunFair will offer opportunity for existing Isle of Man operators to take on new products as a result of the license.”