FunFair Approved for First Isle of Man Token-based Supplier License
FunFair Technologies has set another industry first being approved for a tier one, Token Based Supplier license from the Isle of Man.
The license is set to support FunFair’s ongoing growth and wider business strategy focusing on regulated gambling in the blockchain space. It will enable FunFair to operate within the framework of a tier one gaming jurisdiction, ensuring full compliance with its regulations and further safeguarding FunFair-powered casino customers and end users.
It also places FunFair directly in front of the Isle of Man’s licensees as the most legitimate blockchain casino platform on the market. Further enabling FunFair to drive home the huge benefits of blockchain and the FunFair platform to igaming companies through their whitelabel and operator licensed offering.
As part of the licensure process, FunFair has established – FunFair Holdings (IOM) Ltd – based in the Isle of Man to work closely with regulatory bodies and other licensed organisations based out of the dependency.
Stefan Kovach, CCO at FunFair Technologies, commented, “We’re incredibly proud and excited to have been approved for a license from a tier one gaming jurisdiction. Not only does this legitimise FunFair’s blockchain gaming ecosystem but it also keeps us right there as a leader at the forefront of regulated, decentralised technology and token-based gambling”
Lyle Wraxall, CEO of Digital Isle of Man, commented; “Digital Isle of Man is delighted to welcome FunFair to the Isle of Man as the first operator to obtain a token-based software supplier licence in our jurisdiction. The agency is continually working to develop the Island’s digital sectors and what makes this license so exciting for us is that it links two of our key sectors; eGaming and Blockchain. As an addition to our cluster of digital stakeholders, FunFair will offer opportunity for existing Isle of Man operators to take on new products as a result of the license.”