FunFair Tech issues Isle of Man's first token-based supplier license
FunFair Tech to Issue Isle of Man’s First Token-Based Supplier License
September 23, 2019
FunFair Tech issues Isle of Man's first token-based supplier license
FunFair Tech to Issue Isle of Man’s First Token-Based Supplier License
September 23, 2019

FunFair Technologies, the leading casino platform supplier, headquartered in Singapore, has received the first token-based supplier license from the Isle of Man, a self-governing British Crown dependency in the Irish Sea between Great Britain and Ireland.

It has been reported that according to Gaming Intelligence, the license will enable FunFair to fully conduct its businesses within the Isle of Man’s tier-one gaming framework.

Authorizing Blockchain Gambling Platform

Stefan Kovach, the CCO of FunFair Technologies, stated:

“We’re incredibly proud and excited to have been approved for a license from a tier-one gaming jurisdiction.”

Stefan Kovach

He added:

“Not only does this legitimize FunFair’s blockchain gaming ecosystem but it also keeps us right there as a leader at the forefront of regulated, decentralized technology and token-based gambling.”

Stefan Kovach

As part of the licensing process, FunFair Holdings (IOM) Ltd has been founded by Isle of Man-based FunFair is going to work alongside regulatory bodies on the island and other licensed organizations based outside the jurisdiction.

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Isle of Man: FunFair to Bring New Opportunities

Lyle Wraxall, the CEO of Isle of Man Digital Agency, stated:

 “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 license in our jurisdiction.” 

Lyle Wraxall

He added:

“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 an opportunity for existing Isle of Man operators to take on new products as a result of the license.”

Lyle Wraxall

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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