Xace, the specialist financial institution that offers accounts and payments for the iGaming industry, has received a license from the Malta Financial Services Authority (MFSA). This certification will allow Xace to accelerate its growth in the European Union and further establish itself as a key player in the iGaming market.
The MFSA is a prestigious regulatory body responsible for overseeing various financial entities, including banking institutions, payment providers, and investment services companies. With the new license, Xace is expected to enhance its reputation and solidify its position as an unrivaled payment provider in the iGaming industry.
Since its inception, Xace has been dedicated to simplifying financial transactions in the gaming world. The company offers segregated and named business accounts, as well as local and cross-border payments and Forex exchange services. The MFSA license is seen as a significant step towards meeting the specialized payment needs of the iGaming industry, which has historically faced challenges with traditional financial institutions.
Xace’s group CEO, David Hodkinson, expressed enthusiasm about the new license, emphasizing the company’s mission to provide an effective alternative to traditional banking for the iGaming sector. He sees the license as a unique opportunity to enhance Xace’s offerings to European and Maltese gaming companies.
Roderick Psaila, chairman of Xace Europe, also emphasized the significance of the MFSA license, describing it as a milestone for the iGaming industry. Psaila highlighted the industry’s need for stable, secure, and reputable financial providers, and expressed gratitude towards the MFSA for their support during the application process.
Overall, the new license from the MFSA is expected to not only benefit Xace but also the entire iGaming industry in Europe. It will provide access to a more stable payments and business account solution, and further solidify Xace’s position as a leading financial institution in the sector.