Jumio is proving to be a major player in the online gambling and cryptocurrency markets. The company has been contracted to provide its ID verification technology for CasinoCoin, the provider of an eponymous cryptocurrency for online gaming.
The latter’s aim is to use blockchain technology to let players on its partners’ gaming platforms complete transactions in under five seconds. Accordingly, it needs an easy-to-use, streamlined KYC solution for its Bankroll Manager digital wallet, and that is where Jumio comes in. Jumio’s Netverify solution leverages facial recognition and document reading technology to let end users confirm their identities through a mobile device, and has proven highly popular in the financial services industry.
News of Jumio’s integration into CasinoCoin’s platform comes soon after the solution was adopted by the Monaco cryptocurrency exchange earlier this month, and after electronic gaming operator GVC Holdings embraced it in February. In a statement announcing this latest partnership, CasinoCoin Foundation Director of Advocacy John Caldwell explained that “Jumio has been supporting organisations in both the online gambling and cryptocurrency spheres for a long time now, and has established a formidable reputation as a KYC partner,” adding that this history made the firm “the obvious choice” as an ID verification services provider for Bankroll Manager.
CasinoCoin says it’s aiming to make its Bankroll Manager digital wallet available for download by the end of the second quarter.