XDA.io: Revolutionizing payments in iGaming

Blockchain business news: XDA.io, an inventive fusion of cryptocurrency and payment services targeted at the iGaming sector, is unveiled by a former executive of Revolut.

Payments and cryptocurrency: Revolut marks a sea change in the iGaming industry

As expected, the former executive of Revolut has officially announced the introduction of XDA.io, a cutting-edge platform for internationally licenced online gaming enterprises that offers simple access to payments in fiat money and cryptocurrencies via a single application.

This latest solution addresses the expanding industry demand for a flexible and user-friendly financial ecosystem in the gaming context. It was created with compliance and optimisation in mind.

In particular, Andria Evripidou—a former executive of Revolut and Yapily—is responsible for the launch. Major financial institutions and cryptocurrency suppliers from around the world support the platform, guaranteeing a steady attitude to risk and service continuity.

The CEO and creator of XDA.io, Andria Evripidou, made the following remarks on the launch:

While mainstream sectors have never really endorsed crypto currency, the gaming community has adopted it and thrived.

With the rapid adoption of crypto in gaming, it’s time for a financial platform that caters to the unique needs for both crypto and fiat accounts in one gaming friendly place.

Additional game news: $50 million is invested in Animoca Brands by NEOM

Lately, Animoca Brands, a Web3 gaming and investment company, received a substantial $50 million investment proposal from Saudi Arabia’s NEOM programme. Together with Animoca, NEOM’s investment section is promoting Web3 initiatives that fit Saudi Arabia’s Vision 2030 plan.

The announcement on Tuesday states that half of the investment would go towards buying Animoca shares from the secondary market and the other half will be made through convertible bonds with a maximum conversion price of 4.50 Australian dollars per share.

It is important to note that Animoca was formerly listed on the Australian Securities Exchange (ASX), which is why its shares are valued in Australian dollars. Due to non-compliance difficulties, it was delisted from the ASX in 2020; nonetheless, it is still traded on the secondary market.

Animoca Brands and NEOM will collaborate to create Web3 commercial services that have an international reach, with an emphasis on technology development in the NEOM region and in the Saudi capital of Riyadh.

The Animoca Brands representative emphasised that the initiatives are still in the planning stage while withholding specifics regarding the planned projects involving the NEOM ecosystem.

An ambitious Saudi programme called NEOM seeks to establish a new model city and economic zone in the nation’s northwest.

By transforming it into a centre for innovation, technology, and sustainable development, the aim is to lessen Saudi Arabia’s reliance on oil and diversify the country’s economy.

Thus, funding Web3 projects would be consistent with NEOM’s goal of leading the way in technological innovation.

Fiat24: Uniswap DAO integration with Visa cards for international growth

However, we note that Fiat24, a blockchain-regulated bank in Switzerland, has carried out an evaluation of the Uniswap DAO’s governance in the payments and cryptocurrency space.

Despite the concerns of governance delegates over trademarks, this was done to obtain clearance for the issuance of a Visa card bearing the Uniswap logo.

Fiat24, a company that runs on the Ethereum L2 Arbtrium network, has suggested issuing a Visa card. This proposal is contingent upon clearance by Uniswap, the largest on-chain cryptocurrency exchange, which is governed by an autonomous decentralised organisation (DAO).

With intentions to expand into Latin America and Southeast Asia, the card will first be offered in 27 markets within the member states of the European Union.

It is anticipated that Fiat24 will pay for all of the efforts and expenses associated with the card, rather than Uniswap DAO bearing any of the costs. After the request is accepted, Uniswap DAO is anticipated to make an official announcement.

Fiat24 wants to use automated smart contract-based financial services to leverage the $7.5 trillion daily global currency trading volume.

The protocol uses the liquidity pool of Uniswap to support transactions where cardholders possess Ether (ETH).

Subsequently, Fiat24 will use Uniswap to convert ETH into Circle’s USDC stablecoin and then send the token via fiat gateways to facilitate real-world payments.

This on-chain bank demonstrates a commitment to strategic and controlled expansion in the digital financial sector by being able to lawfully service specific European markets and conduct cross-border transactions thanks to its Swiss banking licence.