Revolutionizing iGaming: Xace unveils free business accounts for regulated gaming companies
In a significant development for the iGaming industry, Xace has introduced a groundbreaking service offering completely free business accounts and cross-border payment solutions for gaming companies holding top-tier licenses. This move is set to redefine financial services within the sector.
Xace, known for specializing in payment solutions tailored to the iGaming sector, recently launched its innovative “Era” product. This product offers zero-fee accounts for both local and international payments and currency exchanges, addressing a long-standing challenge within the gaming industry—accessing reliable and cost-effective banking solutions.
Traditionally, gaming firms have struggled with securing banking services that are both stable and affordable. Most financial providers that cater to this sector often impose fees significantly higher than those charged by conventional banks. However, “Era by Xace” changes this landscape by providing regulated gaming companies with absolutely no fees for payment accounts. This includes eliminating upfront and monthly account costs. Eligibility extends to companies holding licenses from prominent regulators, such as those in the UK and Malta.
Adam Grist, Chief Product Officer at Xace, commented on the launch, saying, “After consulting with top players in the industry, we’ve crafted a product that tackles a major hurdle in gaming payments. Our focus has been on creating a solution that serves regulated gaming firms in Europe and North America, who have been burdened by excessive fees on accounts, transactions, and foreign exchange.”
David Hodkinson, CEO of Xace, also shared his enthusiasm: “The introduction of ‘Era by Xace’ is a testament to our team’s relentless dedication. We’re thrilled to offer these fee-free accounts and transaction services, which are set to benefit a broad segment of the gaming industry significantly. It’s exciting to launch such a transformative product at the start of 2024.”
The timing of this announcement coincides with the Malta Financial Services Authority’s recent decision to grant Xace a payments license, a strategic move that paves the way for the company’s expansion throughout the European Union.
Xace continues to serve the iGaming industry as a specialist financial institution, providing named and segregated business accounts, local and international payment services, and foreign exchange solutions. With a team that boasts extensive experience in the gaming sector across the UK, Europe, and North America, Xace stands out as a leading financial provider dedicated to the industry’s needs.
