The digital division of Novomatic’s Greentube has completed the purchase of most of CashBet Coin’s CBC cryptocurrency and its related blockchain technologies.
As a part of the acquisition Greentube plans to expand its use of cryptocurrency throughout its portfolio of social gaming, with the transaction following last year’s positive trial incorporation of CBC within its flagship brand GameTwist.
The social casino also provides the cryptocurrency as an alternative method of payment in each region it operates, allowing players to buy Twist credits using CBC across its more than 400 games range.
CashBet Coin president Ed Brennan stated: “This deal completes our ongoing partnership with Greentube and is testament to the technical excellence and versatility of CBC. Given the scale of the company’s social user base and operations the acquisition will further advance development of the technology.
“With CBC now under the control of a leader in the global igaming industry, we look forward to establishing greater utility of the token and seeing many more integrations across Greentube’s social products and services.”
In December 2019 CashBet partnered with Greentube on a new partnership that saw CBC being introduced as a method of payment across its social casinos B2C.
Subsequently, the company began incorporating CBC and its underlying blockchain technology across its portfolio, offering consumers an innovative way to play their online slots, casino, card games, and bingo material.
CBC was to be recognised in all markets where GameTwist operates, emphasising that the cryptocurrency enjoys “a strong foothold in Europe.”
Michael Bauer, chief games officer at Greentube, explained: “The acquisition of the CashbBet Coin Treasury allows us to expand the use of blockchain solutions and we are evaluating the spread across our B2C casino portfolio to enhance the customer experience.
“We’ve seen increasing demand from players to offer cryptocurrency as a payment option and the successful integration of CBC on GameTwist has demonstrated the benefits of the technology for social gaming.”