BetConstruct continues crypto focus with new MGA approval

BetConstruct has been approved by the Malta Gaming Authority (MGA) to commence with accepting player deposits using cryptocurrencies. 

Referred to as Virtual Financial Assets under the Maltese legislation, the move to embrace digital asset transactions represents a significant step when it comes to enhancing the connection between betting and digital currency. 

The firm, which is a part of the Vivaro Limited Group, underlined that through the integration of cryptocurrency transactions it eyes elevated engagement and satisfaction from players. 

It follows on from the news that BetConstruct is to adopt Fasttoken (FTN) as its primary payment method as part of a strategy to help its partners stay “ahead of the curve” on Web3 developments.

From 1 February 2023, BetConstruct’s partners will be able to settle all business transactions using the FTN token.

In a statement, the group said: “With Web3 being the wave of the future in business and payments, we believe that this initiative is a great opportunity for BetConstruct and its partners to stay ahead of the curve and provide the industry with what is relevant and necessary for building a successful business.”

FTN is the “official cryptocurrency” of the Fastex ecosystem, a Web3-driven exchange developed by SoftConstruct.

By using the token, BetConstruct explained that its partners will receive “additional benefits”, including access to the SoftConstruct Crypto Reward Program.