CashBet seeks $40m to fund crypto-ready mobile platform

24 January 2018

CashBet is hoping to raise $40m (€32.5m) via an initial coin offering (ICO) to develop a new crypto-ready mobile gaming platform.

The company said the platform will be the first of its kind to offer a complete crypto-ready service to users.

To support this development, the ‘CashBet Coin’ will be available in pre-sale from today (Wednesday) with a 20% discount, before going on public sale in March.

CashBet Coin can be used for payments on any casino application or website powered by CashBet, with player to benefit from access to what the company described as a “greater variety of provably-fair content, reduced transaction costs, and faster payouts”.

Building on this, Mike Reaves, chief executive and co-founder of CashBet, said: “We are thrilled by the business and cryptocurrency community’s recent support of CashBet’s blockchain integration and upcoming ICO.

“The iGaming marketplace demands more transparency and flexibility, and we’re confident that our crypto solution will deliver a superior player experience.”

Related article: Cashbet expands content deal with Storm Gaming