GoCoin partners with Ilixium to enable crypto payments for iGaming

GoCoin has partnered with payment processor Ilixium to enable digital currency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for online gaming companies. GoCoin made the announcement at the Excellence in Gaming (EiG) conference in Berlin.

GoCoin, with its Litecoin and Dogecoin offerings for merchant acceptance, fills a key niche a competitive industry that includes major players like Coinbase and BitPay. Traditional payment networks typically shy away from gaming and other industries they consider high risk.

According to a press release, Ilixium introduced Consumer Payment Outsourcing (CPO), whereby the processor holds funds and acts as the Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term between the customer and the business. On its website, it says it is an authorized agent of the Electronic Money Institution regulated by the UK's Financial Conduct Authroity (FCA).

It is believed that the processing scheme and partnership will help bring down the cost of making transfers, both for Ilixium and its client businesses. Said Eric Benz, EMEA director of operations at GoCoin:

"Gaming operators face constant pressure to reduce their cost per acquisition. Offering a low friction, low-cost payment option keeps players in the game, and by partnering with Ilixium, we are helping operators keep more of their profit margin and -- in many cases -- collect money that would otherwise be left on the proverbial table."

Benz is presenting GoCoin's iGaming strategy today at "The Pitch" competition.