Cryptocurrency
Crypto Analytics by SOFTSWISS: trends and tendencies of the iGaming market
SOFTSWISS has prepared detailed analytics on the state of crypto gambling in 2021, and also presented forecasts for 2022.
SOFTSWISS was the world’s first company to introduce a cryptocurrency-optimised solution for online casinos platforms in 2013. At the moment, the company holds the status of the iGaming industry leader in crypto gambling. The company shares statistics and reviews on the development of cryptocurrencies in the iGaming industry on a regular basis.
The data provided in the article is a part of the company’s detailed report on the state of cryptocurrencies in 2021. It presents the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform.
Crypto bets overview
The increase in the number of bets in cryptocurrencies throughout the year confirms the global trend that the position of cryptocurrencies has strenghthened and that they are increasingly more popular among online casinos users. Сompared to January 2021 when the share of bets made in crypto was at 23%, December of the same year shows that number almost doubled to 40.1%. At the same time, the volume of bets in cryptocurrencies over the same period increased by more than 2 times, namely, by 259.21%.
“Cryptocurrencies have long been not just a trend in the gambling industry, but an obvious stage in its evolution. With significant benefits related to transaction speed, as well as wide market boundaries, the use of cryptocurrencies opens up significant opportunities for both players and operators. This leads to their constant growth. Those industry representatives who won’t develop their business in this direction in the near future risk losing a competitive advantage in the “battle” for users. Our statistics clearly demonstrate this,” commented Andrey Starovoitov, COO at SOFTSWISS
Crypto and fiat currencies
Despite the fact that fiat currencies are still the most preferred option for betting, crypto is gradually but steadily growing in its share. Over the year, the percentage of bets in fiat currencies decreased by 23.6 percentage points: from 88.2% in 2020 to 64.6% in 2021. In its turn, cryptocurrencies showed a growth of 20.1 percentage points.
“Cryptocurrencies have long ceased to be an attribute of IT geeks. This is a global phenomenon and its impact on the global economy cannot be denied. The iGaming market is adapting to a new reality in which cryptocurrencies will become as important (if not more important) than fiat in the next couple of years. Convenience, speed, and usability are their huge advantages. SOFTSWISS took into account all these factors and created an entire ecosystem for its clients, which, in part, is made possible by the Cryptoprocessing solution by CoinsPaid,” said Andrey Starovoitov, COO at SOFTSWISS.
Top cryptocurrencies
Bitcoin still occupies a leading position by a huge margin among altcoins: 80.11% of all crypto bets are made using BTC. According to the share of all cryptocurrencies used, the list of the most popular coins is as follows:
- Bitcoin (BTC) 80.11%
- Ethereum (ETH) 9.88%
- Litecoin (LTC) 4.52%
Download the full report to learn more.
At the same time, the share of Bitcoin by the end of 2021 decreased compared to the beginning of the year: from 83% in Q1 to 72.32% in Q4. This is related to the growing interest of users in such a cryptocurrency as Ethereum. Its share increased from 9% in the first quarter to 14.12% in the last quarter of 2021.
Top crypto providers in the iGaming market
Below is the list of providers actively working with crypto based on the share of all crypto bets in 2021. According to the statistics, BGaming players most often used cryptocurrencies in games and ensured the share of bets in crypto at the level of 21.10% of the total:
- BGaming 21,10%
- Platipus 13,53%
- Evolution 13,47%
- Booming 10,76%
- Betsoft 7,08%
To find out more information about the most crypto-oriented games, successful providers within the framework of operating crypto-casinos, as well as statistics on crypto-currencies in the context of GGR, download the full report.
“Cryptocurrency allows casino and dice site operators to work with a young audience. In this regard, the SOFTSWISS Crypto Solution will become an indispensable tool that adapts classical operating models to modern requests. We have every reason to believe that the share of cryptocurrencies will continue to grow this year and, accordingly, will open up even more opportunities for iGaming representatives. In turn, we have experience, innovation and expertise to help both newbies and experienced players in the market to make the most of these opportunities,” summed up Andrey Starovoitov, COO at SOFTSWISS.
About SOFTSWISS
SOFTSWISS is a widely-acclaimed iGaming expert supplying certified software solutions for managing gambling operations. The company has an international team, which counts 1000+ employees and has an official presence in Malta, Belarus, Poland and Georgia. SOFTSWISS holds a number of gaming licences, providing one-stop-shop iGaming solutions. The company has a vast product portfolio, which includes an Online Casino Platform, Game Aggregator with thousands of casino games, the Affilka affiliate platform, Sportsbook Platform and the Jackpot Aggregator. In 2013 SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.
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Crypto
Tequity joins Hub88 aggregator platform to accelerate operator access to Originals and Crypto Trading games
Tequity, the rising iGaming software innovator, has successfully integrated its content portfolio into Hub88’s gaming aggregation platform, providing operator partners worldwide with a streamlined route to market.
The partnership enables Hub88’s network of operators to enrich their lobbies with Tequity’s high-performance titles via a single API, allowing rapid deployment and seamless content delivery.
Hub88 clients now have access to Tequity’s Originals portfolio, featuring 17 fast-paced, streamer-friendly, and fully customisable in-house games, as well as the new Crypto Trading games series, which brings crypto market-inspired gameplay directly into the casino environment.
The integration also includes Tequity’s Publishing vertical, with Mirror Image Gaming’s Royal Drop as the first third-party title available through Hub88 distribution.
Operators benefit from a broader content mix with strong advantages in brand control and operational confidence. Extensive customisation options allow partners to tailor game look, feel, and UI, all supported by a robust, engineering-led infrastructure designed for global scale and performance.
Dominic Sawyer, VP of Growth at Tequity, said:
“Hub88 is an ideal distribution partner for studios and operators building for scale. This onboarding makes Tequity content more accessible across Originals, Crypto Trading games, and Publishing, with a focus on fast rollout and full brand control. We have several operator partners scheduled to go live in the coming weeks.”
Ollie Castleman, Managing Director of Hub88, added:
“We are excited to onboard Tequity to our platform. Their Originals, Crypto Trading, and Publishing content provide our operator partners with a diverse, differentiated game offering and a simple, efficient path to launch.”
The post Tequity joins Hub88 aggregator platform to accelerate operator access to Originals and Crypto Trading games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
Crypto.com Receives Limited Financial Institutions Licence in Europe
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.
Crypto
UK To Explore Crypto Gambling Framework
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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