iGaming operators have more security for accepting crypto payments
We are in a new paradigm where new technologies have begun to change the way in which business is conducted from every point of view, from inside the company through the digital transformation processes applying the use of artificial intelligence (AI) to outside the company with customers. The cryptocurrency world does not want to be left out, and that is why Paysafe has now decided to lend a hand to Elliptic’s cryptocurrency compliance.
The idea with this partnership is to be able to examine cryptographic wallets by implementing AI and thus be able to go further in the compliance of cryptocurrencies. This is due to the fact that Elliptic is increasing its indirect exposure to cryptocurrencies every day. Elliptic, a global leader in crypto-asset risk management, has attracted the attention of Paysafe, a leading specialized payments platform, for its Elliptic Lens solution. Simone Maini, CEO of Elliptic, said, “By choosing Elliptic’s suite of encryption compliance solutions, Paysafe can adapt and scale compliance operations as the company grows its presence and keeps up with regulatory changes to protect the company and its customers.”
With the arrival of Paysafe into the equation, the indirect exposure to all risks involved with cryptocurrencies can now be managed in a better way and thus strengthen their respective control. Through its AI-based services, Paysafe gives iGaming operators and consumers the ability to seamlessly transact using industry-leading capabilities in payment processing, digital wallets and online cash.
By adding Elliptic Lens to its established proprietary AI risk engine, Paysafe acts as an enabler of Know Your Customer (KYC) processes while monitoring interactions between entities related to crypto and fiat payment movements and reducing high levels of exposure to illicit activities.