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FACEIT partners with crypto fintech platform Cake DeFi in multi million dollar deal that will allow players to earn cryptocurrency

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FACEIT, the world’s leading platform for competitive online gaming, has today announced a multi-million dollar partnership with Cake DeFi, one of the world’s fastest growing crypto fintech platforms, which allows users to earn cash flow from their crypto. Facilitated by Pivot Agency, the collaboration will provide Cake DeFi with authentic brand exposure to all FACEIT users globally through a series of bespoke and multifaceted gaming experiences which will offer the community a chance to win crypto. This year Cake DeFi will be offering players more than half a million dollars in prizes, paid in crypto.

Research suggests that 55% of the Millennials gamers own crypto as compared to just 5% of all Millennials1, illustrating the natural connection between the gaming and crypto industry.

The partnership with FACEIT marks Cake DeFi’s first move into the gaming and esports space. The agreement will offer the company access to FACEIT’s 25 million user base, the largest network of competitive gamers, and will offer players a unique opportunity to earn actual crypto prizes while playing. Furthermore, through Cake DeFi’s platform and access to decentralised finance applications, they can compound their winnings and earn returns on their crypto.

Michele Attisani, Co-Founder & CBO of FACEIT said:  The FACEIT platform is home to the largest community of competitive gamers, which means we have a unique understanding of this audience. Our users are incredibly forward thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest. The collaboration with Cake DeFi is much more than brand integration, and offers our community clear experiential and financial benefits which go beyond what any partnerships of this type has delivered before.

FACEIT users are core gamers who spend an average of 2.5hrs a day on the platform. A recent survey of FACEIT users found that many were already interested in, and investing in crypto, showing a natural synergy between both brands and industries:

  • They are innovative thinkers with 66% agreeing that cryptocurrencies are the future of online transactions
  • 80% have heard of Crypto
  • 36% invest in Crypto
  • 46% very Likely or Likely to use Crypto in next 12 months – 4x more likely than the general population to use Cryptocurrency for online purchases

The partnership will incorporate Cake DeFi Missions, involving in-game tasks and monthly challenges for players to complete in order to win crypto prizes. It will also include Cake DeFi Weekly Tournaments which will run throughout the year and will be open to FACEIT players around the world. Players will be able to earn even greater rewards on the crypto they win when they sign up to Cake DeFi. All crypto prizes are redeemable through their Cake DeFi account, allowing FACEIT to expand its current play-to-earn offering.

Speaking about the partnership, Dr. Julian Hosp, CEO and Co-Founder of Cake DeFi said, “Gamers have a natural affinity with crypto and they can now join us on the DeFi movement. Cake DeFi’s partnership with FACEIT will allow players to earn crypto while they game, and further earn returns on their crypto through our platform. In 2021, we paid out US$230 million in rewards to our customers. So it’s a win-win-win for FACEIT gamers.”

Cake DeFi is the leading crypto fintech platform that provides users access to DeFi (decentralised finance) services and applications such as liquidity mining, staking and lending, which generates regular returns for users. They currently manage over $1 billion in customer assets and offer users one of the highest returns on crypto in the market, as a one stop platform that is easy-to-use, secure and transparent. Last year they paid out $230 million in rewards to customers and this year they are looking to increase this to 74% more, or $400 million, in rewards.

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Compliance Updates

Crypto.com Receives Limited Financial Institutions Licence in Europe

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Crypto.com has announced another regulatory milestone: its EU MiCA regulated entity has received a Limited Financial Institutions licence from the Malta Financial Services Authority (MFSA). The approval allows the company to continue delivering its full suite of stablecoin services – qualifying as payment services – across the European Union, without disruption.

This additional licence is for the provision of services exclusively in relation to electronic money tokens (EMTs). The licence was acquired to navigate a complex regulatory landscape resulting in overlapping crypto asset services (MiCA) and payment services (PSD2). By securing the Limited Financial Institution Licence, Crypto.com has addressed both regulatory regimes ensuring full compliance across every aspect of its stablecoin operations.

Crypto.com’s Malta entity received MiCA approval in January 2025, allowing the company to passport services across the European Economic Area (EEA). Notably, Crypto.com already holds a full Electronic Money Institution (EMI) licence in Europe, making it one of the most comprehensively authorised platforms operating in the region.

“We are one of the most regulated crypto platforms in the world and receiving this licence proves, yet again, that we are committed to working with authorities to ensure the strongest compliance standards. Our stablecoin business and services remain a pivotal part of our European product offering so it was vital we secured this limited licence to continue providing seamless access to our institutional and retail customers,” said Eric Anziani, President and Chief Operating Officer at Crypto.com.

The limited Financial Institutions licence adds to Crypto.com’s expanding list of licences and registrations globally including, but not limited to, a UK Electronic Money Institution licence (FCA), a Major Payment Institution licence in Singapore (MAS), a Virtual Assets Service Provider licence in Dubai (VARA), U.S. Money Transmitter Licences, U.S. Designated Contracts Market (DCM) & Derivatives Clearing Organization (DCO) licences and recently conditional approval from the U.S. OCC for a National Trust Bank Charter.

The post Crypto.com Receives Limited Financial Institutions Licence in Europe appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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UK To Explore Crypto Gambling Framework

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Legal crypto gambling could be coming to the UK after the country’s regulator announced on Thursday (Feb 26) that it will begin working on new rules to support the sector.

Gambling Commission executive director Tim Miller revealed in a speech this week that regulatory officials have concluded allowing licensing operators to transact in crypto is likely a wise move.

Responding to growing demand for gambling with cryptocurrencies, and undeniable evidence that consumers are turning to the black market in search of crypto-friendly operators, Miller said the process was already underway.

Characterising the project as “tentative” and promising no timelines or outcomes, Miller nevertheless said he had instructed the commission’s Industry Forum to begin work on detailing how crypto gambling could be regulated in the UK.

The Forum is composed of industry figures from the online and retail sectors, including representatives from Flutter and Rank Group.

Addressing the Betting and Gaming Council AGM on Thursday, Miller said: “There will be significant challenges and risks to overcome in considering this topic but I am keen that we approach this in the spirit of exploring the art of the possible, rather than starting from a position of finding all the reasons not to innovate.”

Recent work undertaken by the Gambling Commission to try and understand why gamblers choose to leave the regulated market and gamble offshore has identified a desire to bet with crypto as the second-largest motivator.

One UK legal expert told EEGaming that the project was “long overdue”.

“A credible, regulated pathway would be a more effective consumer protection tool than de-facto prohibition if it reduces displacement offshore, which invariably it would,” said Chris Elliot, a partner at Wiggin law firm in London.

Elliot noted that the commission does not appear to be proposing specific “crypto licences”, but is instead “exploring a framework under which UK-licensed operators could accept crypto as a consumer payment option”.

Regulators in partnership

The Commission’s renewed willingness to consider allowing crypto gambling is also being driven by more secure legislative foundations that are set to come into effect in the UK.

Miller pointed to the “Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025”, which was presented by the government in December.

The new statutory instrument would regulate more uses of crypto-assets by establishing a series of regulatory frameworks.

This comes as the Financial Conduct Authority (FCA) is itself consulting on new rules for crypto in the UK.

This work will form the bedrock of any efforts by the Gambling Commission to loosen crypto gambling rules, Miller said.

It may also provide some clues as to the timeline of any crypto-liberalisation by the commission, Elliot noted.

“If the FCA authorisation regime is phased in over a longer period, mainstream adoption in UK gambling could be correspondingly slow,” he warned.

“That said, existing AML registration requirements for crypto-asset service providers already provide some baseline assurance, which could support earlier experimentation if the commission is serious about tackling black-market growth.”

Fraud on the brain

Regulatory sources who spoke to EEGaming pointed to the role the Financial Action Task Force (FATF) may be playing in accelerating crypto regulation.

The international money laundering watchdog — which has had notable interventions in the gambling market over recent years through its temporary greylisting of Malta and Gibraltar — has told national governments they should be regulating crypto providers, not trying to prohibit their use in the legal economy.

The UK is scheduled to undergo an assessment by the FATF in 2027.

That provides an extra impetus for the UK to have its crypto regulations in order, but allowing digital assets to flow into the economy more readily, especially via gambling, brings added risks.

“Like any new payment method, it will introduce new fraud/AML typologies,” explained Elliot. “But ‘new’ doesn’t automatically mean ‘higher’. In some respects, crypto can support a more robust control environment than fiat payments, particularly where cash is involved,” he noted.

“Operators wishing to drive this agenda will need to be able demonstrate, with evidence, why these risks can be managed through the controls put in place,” he said.

Crypto revolution?

Although the UK Gambling Commission is only at the beginning of this process, Miller’s announcement is sure to have an impact internationally, particularly at some of the European regulators with which it shares close ties.

EEGaming asked the Netherlands Gambling Authority, which signed a new memorandum of understanding with the commission in November, whether it would now be considering a crypto-revolution of its own.

“Although the KSA thinks allowing crypto payments might help battle illegal offering, there are too many complications right now to just go along with it,” a spokesperson said.

“We are looking into this for the future.”

The post UK To Explore Crypto Gambling Framework appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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$SCOR

BetOnline.ag Integrates $SCOR, the Premier Crypto Token of the Pro Sports Industry, Ahead of Super Bowl

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BetOnline.ag, a preeminent global online sportsbook, casino and poker platform, announced a strategic partnership with Sweet to integrate $SCOR as a newly supported cryptocurrency.

$SCOR, the native token powering verified fan identity and rewards across major professional sports, is now available for deposits and withdrawals within the BetOnline cashier, just in time for Super Bowl Sunday on February 8.

This integration establishes a direct utility lane for the $SCOR, allowing fans to use tokens — earned through engagement in officially licensed sports games or purchased on exchanges — for real-world gameplay on a leading gaming platform.

For BetOnline, the partnership represents a strategic entry point into the burgeoning world of on-chain sports fandom, connecting the platform with high-value, verified fan liquidity.

“We are constantly evolving to meet our players where they are, and that now includes the intersection of sports fandom, gaming and blockchain. $SCOR isn’t just another cryptocurrency…it’s the premier token of the sports industry. This partnership allows us to directly engage with a new generation of sports fans who value real-world gameplay, verifiable achievements and interoperable rewards,” said Eddie Robbins III, CEO of BetOnline.ag.

$SCOR functions as the on-chain layer for fan identity, verifiable engagement and portable rewards across Sweet’s network of major professional sports IP partners that boast officially licensed sports-themed web3 PvP and mini games.

By accepting $SCOR, BetOnline gains a direct connection to verified fan activity from SCOR’s ecosystem of major professional sports IP partners, introducing a high-value audience of competitive sports fans and crypto-savvy players.

To celebrate the launch, BetOnline will offer exclusive deposit perks for $SCOR users, including free-play credits and casino spins for qualifying deposits. Future community activations are planned, featuring token-gated private poker and casino tournaments for verified $SCOR holders, with prizes awarded in both $SCOR and cash.

“We built $SCOR to bridge the passion of sports fandom with tangible utility and value. BetOnline’s integration is a landmark moment, turning fan-earned $SCOR into a key for premium gaming experiences. This partnership validates our vision of a reward-first portable fan identity,” Sweet EVP of Global Partnerships Betsy Proctor said.

The post BetOnline.ag Integrates $SCOR, the Premier Crypto Token of the Pro Sports Industry, Ahead of Super Bowl appeared first on Americas iGaming & Sports Betting News.

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