The license enables FunFair to ensure full compliance with the Isle of Man’s gaming and blockchain regulations, and safeguards FunFair-powered casino customers and end users.
“We’re incredibly proud and excited to have been approved for a license from a tier one gaming jurisdiction,” said FunFair Technologies chief compliance officer Stefan Kovach. “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 Isle of Man Digital Agency, executive agency of the Department for Enterprise, 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.”
As part of the licensure process, FunFair has established FunFair Holdings (IOM) on the Isle of Man to work closely with regulatory bodies and other licensed organisations based out of the jurisdiction.
FunFair is currently headquartered in Singapore, with related companies in London, Malta, Gibraltar and Guernsey.