Blockchain
BetDEX Closes $21M Seed Funding Round
BetDex, a blockchain betting venture by former FanDuel executives, which was first unveiled late last month, has now completed a $21m seed investment round. This marks the largest-ever seed round by a UK startup.
BetDEX is described by the company as “the world’s first decentralised sports betting protocol.” Set for launch in the first half of 2022, BetDEX combines blockchain technology with sports betting, with the aim of transforming the consumer sports betting experience.
The $21 million investment round is led by San Francisco-based crypto investment firm Paradigm and Bahamas-based cryptocurrency exchange FTX, which was recently valued at $25 billion after its own Series B-1 round was disclosed in October. Multicoin Capital, Hack VC, Lightspeed Venture Partners, Sino Global Capital, Solana Ventures, and Everblue Management also participated in the round.
Former FanDuel co-founder and CEO Nigel Eccles becomes BetDEX’s Non-executive Chair, Varun Sudhakar is appointed CEO, and Stuart Tonner takes up the CTO role. BetDEX plans to scale the business from a base in Scotland and is now hiring for a range of positions.
Eccles co-founded FanDuel in 2009, with the company going on to become Scotland’s first $1 billion dollar-valued startup before being acquired by Flutter in 2018. FanDuel is now estimated to be worth around $30 billion. Varun Sudhakar, who began his career in investment banking in Silicon Valley, worked alongside Eccles in senior strategy and corporate development roles at FanDuel between 2015 and 2018, before going on to senior executive positions at other venture-backed startups in New York. Stuart Tonner was the first engineer hired by FanDuel, spending over eight years with the company, building the core FanDuel platform and scaling it to tens of millions of users.
In 2020, the global sports betting market was valued at $203 billion and is forecast to grow to $350 billion by 2024. Despite the immense size, popularity and potential of the sports betting market, it has been characterised by incumbents charging high fees and delivering minimal product innovation.
BetDEX aims to take the opposite approach, with a protocol built on public blockchain Solana, and will offer consumers extremely fast and low-cost trades, while eliminating counterparty risk. The protocol will be fully decentralised and open-sourced, allowing third parties to build their own applications and innovate on top of the platform. BetDEX plans to accept wagers in USDT, SOL and SAMO at launch.
Nigel Eccles, Co-Founder and Chairman of BetDEX, said: “Blockchain technology is set to revolutionise sports betting and we want to be at the forefront of that. It’s exciting to be founding the business with Varun and Stuart, and to be building it in Scotland. We are energized to have the backing and wealth of expertise that comes with having Paradigm and FTX as cornerstone investors.”
Varun Sudhakar, Co-Founder and CEO of BetDEX, said: “The sports betting industry charges high prices for poor products and limits trades by its most successful users. BetDEX is diametrically opposed to this approach, we will successfully compete against incumbents with a markedly superior product and low fees, which is now possible with the advent of blockchain technology. Winners will always be welcome on our protocol.”
Sam Bankman-Fried, CEO and Founder of FTX, said: “We are thrilled to be backing a team with deep industry expertise to transform the sports betting experience. It is mind-boggling that more sports wagering does not occur on exchanges – we firmly believe in giving consumers the ability and control to set their own price and are excited to partner with BetDEX to bring this vision to fruition.”
Arjun Balaji, investment partner at Paradigm, said: “It feels obvious crypto will transform online sports betting. DeFi has shown how financial markets can be automated and distributed to the benefit of consumers. Crypto can do the same for all other kinds of financial activities, including betting. The BetDEX team has the right combination of industry experience and technical skill to create something that shows the way forward for everyone working in the space.”
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Blockchain
RPM APPOINTS WEB3 EXPERT STEVE WHYMAN TO LEAD ON BLOCKCHAIN STRATEGY
RPM, the specialist in retail and online betting and gaming, has announced that it has bolstered its digital markets capabilities with the appointment of Steve Whyman as Director of Web3 & Crypto.
Whyman joins RPM with a mandate to shape the credible adoption of blockchain technology within the global gaming industry, and will assist partners with a unique, high-level consultancy service that helps deliver faster routes to market using decentralised offerings and tokens.
This appointment internalises Steve Whyman’s institutional pedigree, having spent 25 years in senior trading and leadership roles with industry giants including Amundi, Aviva, and BlackRock, while he most recently served as Head of Debt Capital Markets at Fidelity International where he oversaw the $90bn fixed income primary markets portfolio and led the tokenisation of the firm’s money market fund.
With the added, potent combination of Web3 experience as founder and CEO at Fulminata Solutions, a digital capital markets boutique working with Layer-1 blockchains and prominent stablecoins, Whyman is well-positioned to translate digital finance innovations into practical gaming applications for RPM partners.
During his time at Fulminata Solutions, Whyman has established himself as a thought leader in the Web3 space with specific expertise in the Solana ecosystem. He currently serves as a Strategic Advisor to KEEL.FI, the largest allocator on Solana, and his new role will see this knowhow utilised to provide the gaming sector with a more seamless path to new business models, improved transparency, and new sustainable growth opportunities.
Richard Thorp, Founder at RPM, said: “Appointing Steve is a landmark moment for us as we take a major step forward in delivering on Web3’s promise. His background is exceptional. Blending the rigour of institutional finance and a first-rate, hands-on understanding of decentralised markets, we’re hugely confident that our partners will be able to reap the benefits of his expertise in bridging to new product and market opportunities in the space.”
Steve Whyman, RPM’s new Director of Web3 and Crypto, added: “I’m thrilled to join RPM at a pivotal time as the gaming industry moves beyond speculative Web3 trends towards implementing genuine utility. My focus will be on delivering major new value opportunities to clients in digital finance through consulting on various product improvements, such as instant settlement opportunities, smoother payment rails or executing on innovative, tokenised growth models.
“By fostering partnerships between RPM, our clients, and the leading, high-performance Layer-1 blockchains, we have a massive opportunity to build igaming-led systems that improve transparency, operational efficiency, and, critically, improve the bottom line, and working alongside Rich and the team, we’re in a strong position to genuinely lead Web3 gaming innovation from the front.”
The post RPM APPOINTS WEB3 EXPERT STEVE WHYMAN TO LEAD ON BLOCKCHAIN STRATEGY appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Blockchain
GR8 Tech Launches Crypto Turnkey: High-Value iGaming Platform for Global Expansion
GR8 Tech has officially unveiled its Crypto Turnkey solution, a comprehensive platform designed to give iGaming operators a modern, multi-wallet infrastructure for global expansion. By integrating native multi-currency support from day one, the solution eliminates the need for third-party crypto vendors and complex technical integrations.
According to Denys Parkhomenko, CPO at GR8 Tech, the shift toward crypto is no longer optional for operators looking to dominate.
“Industry data shows crypto players deposit 35-50% more and bet with 40-60% higher frequency than traditional players,” says Parkhomenko. “The operators winning their markets are the ones acting on that data now, not waiting. We built Crypto Turnkey to make that move simple.”
Eliminating Payment Provider Bottlenecks
One of the most significant hurdles for modern iGaming businesses is the dependency on traditional payment providers. Regulatory hurdles or provider outages can delay launches or halt active businesses.
Crypto Turnkey removes these bottlenecks, allowing for:
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Faster Market Entry: Go live quickly without waiting for lengthy traditional payment approvals.
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Operational Stability: Payment uptime is controlled by the operator, ensuring a 24/7 uninterrupted revenue flow.
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Full Compliance: The platform supports over 15 popular cryptocurrencies (including Bitcoin, Ethereum, and USDT) while maintaining strict KYC and responsible gambling standards through existing GR8 Tech modules.
Designed for the VIP Experience
High-stakes players are the lifeblood of the industry. In 2025, VIP players accounted for 47% of total turnover across GR8 Tech’s verticals. These users increasingly demand the privacy, speed, and high transaction limits that only blockchain can provide.
The Crypto Turnkey multi-wallet system provides the flexibility these premium segments expect:
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Single Account, Multiple Currencies: Players can hold and switch between currencies instantly.
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No Conversion Friction: Deposit and withdraw in crypto without losing value to unnecessary exchange fees.
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Real-time Calculations: For games requiring fiat denominations, the system automatically handles balance segregation and exchange rate calculations.
Lower Fees and Zero Chargeback Risks
The economic advantages of the Crypto Turnkey solution are clear. While traditional fiat transactions typically cost between 2.5% and 5%, GR8 Tech’s solution slashes these costs to approximately 0.5%.
Furthermore, because blockchain transactions are irreversible, operators can say goodbye to chargeback fraud and the administrative nightmare of dispute management. Settlement times are also reduced from the standard 3-5 business days to just 10-30 minutes.
The Platform for Champions
When combined with the broader GR8 Tech ecosystem—including AI-driven personalization, advanced CRM tools, and geo-specific “Champion setups”—the Crypto Turnkey solution becomes a powerful engine for maximizing player lifetime value.
The solution is now available globally. New operators can deploy it as a complete turnkey package, while existing GR8 Tech clients can activate crypto capabilities without any additional technical integration.
Meet GR8 Tech at ICE 2026
Are you ready to unlock the potential of the “Platform for Champions” in crypto mode?
Book a meeting with the GR8 Tech team at ICE 2026 to discuss how we can accelerate your success in person at Booth 1C50 in Barcelona.
The post GR8 Tech Launches Crypto Turnkey: High-Value iGaming Platform for Global Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Blockchain
Tequity and MINT Partner to Launch Bespoke, Branded “Originals” for Crypto-First Gaming
Tequity, the premium technology partner for custom iGaming solutions, has announced a landmark partnership with MINT, the upcoming AI-driven, crypto-first operator platform. Under the agreement, Tequity will supply its suite of Originals—fast, provably fair house games—which will be fully customized to reflect the MINT brand identity.
The collaboration centers on the “Originals” category, which has evolved from a niche preference to a foundational product for modern crypto-first brands. These games are designed for high-frequency play, making them a significant driver of player engagement and volume.
A New Standard in Fully Brandable House Games
Tequity’s Originals allow operators to launch 16 diverse house games—including popular formats like Crash, Mines, and Plinko—built on a technical stack optimized for speed and stability.
Through this partnership, MINT will move beyond off-the-shelf content, utilizing Tequity’s modular RGS and partner-ready tooling to create a “native” feel. Key features of the rollout include:
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Complete Brand Control: Full customization of the UX/UI to match MINT’s aesthetic.
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Provably Fair Infrastructure: Transparent, blockchain-verified mechanics that align with MINT’s Web3 roadmap.
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Streamer-Friendly Design: Fast-paced gameplay loops optimized for the burgeoning live-streaming community.
Strategic Vision: Launching the Next Generation of Web3 Gaming
The partnership comes as MINT prepares for its official February launch, positioning itself as a platform that prioritizes product quality over speculative hype. By integrating Tequity’s performance-driven infrastructure, MINT can deliver a premium, localized content suite from day one.
“MINT gets full branding control to make the games feel truly their own, while we provide the underlying performance and reliability,” said Dominic Sawyer, VP Growth at Tequity. “They are building a new kind of operator platform that combines a strong iGaming core with a Web3 roadmap, and we’re excited to be their technical foundation.”
Zak Manhire, CEO of MINT, added: “For us, Originals aren’t just another game category, they’re a foundation. Tequity gives us a very strong technical base, and we’ll push it hard—iterating quickly and building new games together as one. We treat our partners as collaborators, not service providers.”
The post Tequity and MINT Partner to Launch Bespoke, Branded “Originals” for Crypto-First Gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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