Per the deal, Elray is in the process of finalising the operator’s blockchain casino under the Maxibet brand name.
Maxibet’s forthcoming blockchain casino will be licensed in Curaçao and operate globally.
In its release, Elray cites figures from Icon that suggest crypto payments represent 25% of all online gambling payments worldwide and is the fastest-growing sector in the industry.
Elray Co-Founder Cathy Feng said: “It’s apparent that the online gambling business has evolved to embrace cryptocurrency, and crypto casinos have been capturing a significant share of the worldwide gambling market – a trend expected to continue at a rapid rate.
“We are extremely pleased with Maxibet’s decision to be the first operator to adopt our crypto technology gambling platform, with its dynamic content for casino games and sports betting; and we are confident Maxibet and additional online crypto gaming operators who utilise Elray’s turnkey platforms will be highly successful, and generate substantial revenues for themselves and Elray.”
Furthermore, Feng notes the company is in discussions with additional crypto operators to adopt Elray’s technology.
The news follows an announcement made by the company in 2022 when it signed a distribution agreement with Golden Matrix Group to acquire all its gaming content.
As part of this deal, all gambling platforms created by Elray for Maxibet and other B2B online casino operators now feature gaming content provided exclusively by Golden Matrix.
Earlier this year, Golden Matrix acquired MeridianBet in a $300m deal, which was completed in a hybrid cash and stock transaction.