The MFSA recently granted Xace, a specialist financial institution focusing on accounts and payments for the iGaming industry, a license. With licenses in Canada, Malta, and the UK, Xace is now poised to accelerate its growth across the European Union. This new certification is expected to enhance Xace’s reputation and solidify its position as a critical player in the iGaming market.
Xace has established itself as a leading payment provider in the industry, offering segregated and named business accounts, local and cross-border payments, and Forex exchange services. The company’s commitment to simplifying financial transactions in the gaming world has set it apart from traditional financial institutions. The MFSA license will further strengthen Xace’s ability to meet the specialized payment needs of the iGaming industry, providing a more stable payments and business account solution for the entire industry in Europe.
David Hodkinson, Xace’s group chief executive officer, expressed enthusiasm about the company’s mission to provide an alternative to traditional banking for the iGaming sector. He emphasized the unique position that the MFSA license has given Xace, allowing them to offer premium, trustworthy payment solutions to European and Maltese gaming companies. Roderick Psaila, Xace Europe’s chairman, also highlighted the significance of the MFSA license, describing it as a milestone in meeting the industry’s need for stable, secure, and reputable financial providers.
Psaila commended the MFSA for their efficient contribution during the application process, acknowledging them as a robust regulator with approachable guidance. The MFSA’s role in granting, refusing, canceling, or suspending licenses for financial institutions ensures compliance and stability within the industry.
In summary, the MFSA’s grant of a license to Xace represents a significant development for the iGaming industry, signaling a new era of stable and secure financial services for gaming companies across the European Union.