Blockchain-powered igaming platform provider CashBet has announced the successful completion of its ICO token sale, raising $38 million in capital to further develop its proprietary technology and expand its enterprise.
Closing its ICO, CashBet governance details that investors from 100 countries participated in the funding round, with the company reaching its hard cap target of +140,000,000 tokens distributed, with CashBet having undertaken the industry’s biggest token sale to date.
The new industry incumbent, details that it will use the ICO funds to accelerate the development of its crypto-centric igaming mobile platform, which the enterprise believes will develop fair gaming content, reduce industry transaction costs, and increase player functionalities such as faster payments/payouts.
“The success of the CashBet Coin token sale demonstrates a clear need for compliant, user-friendly iGaming solutions,” said Mike Reaves, CEO and Co-Founder of CashBet.
“We look forward to continuing to build the CashBet community and deliver on our roadmap to develop the world’s first complete crypto-ready mobile iGaming platform.”
In 2018, CashBet has secured its first sports partnership with Arsenal Football Club, as the Premier League club’s official blockchain partner, giving CashBet Coin prominent brand placement via in-stadium advertising at home games in Emirates Stadium.
Furthermore, Novomatic’s Greentube subsidiary will be acceptingCashBet Coin as a payment method on its GameTwist social casino platform