BetConstruct gets approval from the MGA to allow player deposits in cryptocurrencies

Vivaro Limited, trading as Betconstruct, has been approved by the Malta Gaming Authority to start accepting player deposits using cryptocurrencies (Virtual Financial Assets as referred to under the Maltese legislation).

"BetConstruct's aspiration to always innovate and provide its partners with the latest and most effective tools and options to compete and grow their operations has made this approval possible," the company said.

BetConstruct white-label partners, including Vbet.net, who operate under Vivaro Limited, have the opportunity to allow their players to deposit using cryptocurrencies, which in turn allows them to grow their operation "by targeting players that use cryptocurrencies and increase their satisfaction and engagement."

On another related note, the betting and iGaming platform provider recently announced the launch of the Fasttoken cryptocurrency. Over 70+ iGaming content developers have agreed to include FTN as a supported cryptocurrency, the firm says.

FTN is the official cryptocurrency of the Fastex ecosystem and the native token of the Fastex Chain, developed and curated by SoftConstruct. "With SoftConstruct's vast network, over 1 million active users, and 700 partners all over the globe, FTN will have numerous real-world use cases from day 1 implying high organic growth," the firm said in 2022.

Fasttoken passed last year an ERC-20 and smart-contract distribution audit from CertiK, a blockchain security pioneer, and Hexens, a cybersecurity solutions company. The audit ensures that the code is working correctly and provides confidence in the operability of FTN in the future.

The cryptocurrency is currently in the Private Sale phase, offering tokens to the SoftConstruct partner network and private and institutional investors for €0.2-0.25 per token. It commenced on October 25 and will continue until January 12.