California-founded mobile gaming platform developer, CashBet is looking to raise $40 million through an Initial Coin Offering (ICO) to fund a crypto-ready mobile iGaming platform.
The company believes a crypto-ready mobile iGaming platform would provide the trust, speed and cost effectiveness lacking in existing platforms.
“We are thrilled by the business and cryptocurrency community’s recent support of CashBet’s blockchain integration and upcoming ICO,” said Mike Reaves, CEO and Co-founder of CashBet.
“The iGaming marketplace demands more transparency and flexibility, and we’re confident that our crypto solution will deliver a superior player experience.”
The CashBet Coin goes on pre-sale today with a 20 percent discount. A public sale will follow in March 2018. The currency will be used for payments on any casino app or website powered by the CashBet platform providing customers lower transaction fees and increased speed of payouts, the company claims.