Crypto gaming specialists SoftSwiss have announced the launch of its newest betting service, "Currency Exchange", which lets players convert crypto to a fiat currency in order to play games that don't support crypto.
The feature will open up game choices to players, who've previously been locked into games that support the likes of Bitcoin, Ethereum, Litecoin, and others. Previously, players would have to supply personal details if creating a fiat balance, which flies in the face of the biggest feature of cryptocurrencies; privacy. Now, players will have those slots opened without the invasion of privacy. This will see thousands of new games made available on the platform, as SoftSwiss has more than 170 development partners on their platform.
By default, the base fiat currency will be USD, but more options will be added later. For conversion, rates from CoinMarketCap will be used.
Regarding the feature, SoftSwiss COO Andrey Starovoitov said, "I am pleased to share that we are moving forward in making more games available to our operators' players. A currency exchange feature has long been associated with crypto dice brands, which have amassed a big audience for classic casino content. With the latest innovation in the form of the currency exchange feature, we are opening up our entire game portfolio for crypto players and operators. We are also simplifying the entire player journey and gameplay experience. SOFTSWISS has always been associated as a crypto-fist brand, and we are happy to reaffirm that position yet again."
The feature has already been added to the SoftSwiss platform, so if you play at a casino that uses the platform (BitStarz, King Billy, PlayAmo, etc.), you should be good to go.
This is for sure a useful feature. Pretty cool that they found a way to get around the due diligence procedures.
I don't know how they will get this past anti-money laundering rules in regulated jurisdictions, unless they are only doing this with their Curacao arm of the business and not the Malta one. It seems to me that it would be a magnet for people wanting to put "dirty" crypto in and take clean fiat out. Hmmm.
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