Xace, a supplier of account and payment processing, has announced plans for a new headquarters in Malta, as the company prepares to expand rapidly across Europe in the coming months.
This will be used to handle the gaming industry solutions provided to Malta-based companies and employees, as well as to facilitate greater business growth in key European markets.
The facility is expected to open in the summer, and it will also house Xace Europe, a division of Xace that will handle activities across the EU and provide greater access to its goods and services for businesses located in the country, according to the company.
Xace’s CEO, David Hodkinson, said: “This is a very exciting development for Xace which comes such a short time after our initial launch. In just seven months we have scaled to one of the leading account providers in the gaming industry and with no signs of growth slowing down.
“Increasing our account offering in Malta was a no-brainer as it is the hub of the global gaming industry and where we absolutely need our European business to be based.”
Since its launch a little over a year ago, Xace has seen rapid growth, especially among gambling businesses that struggle to obtain conventional high-street bank accounts, according to the firm.
It currently offers EUR and GBP business and personal accounts in Europe, along with virtual debit cards. Xace sees Malta as the perfect place to launch its new European offices, with European expansion a primary priority for 2021.
Xace’s CCO Annie Osborne added: “This is a milestone moment for us as we build on the tremendous growth Xace has enjoyed to date, making our products and services available to more gaming companies across Europe than ever before from our new Malta HQ.”