Softswiss is a Business Reporter client.
Cryptocurrencies are revolutionizing the financial landscape and impacting all spheres of business. Its integration into the iGaming sector has unleashed a transformative era, fundamentally changing the way online gaming platforms interact with players. At the forefront of this revolution is SOFTSWISS, the expert in software development for the iGaming industrywhich has been a pioneer in the adoption of digital currencies in online games.
Bringing cryptocurrencies to iGaming
The important role of cryptocurrencies in iGaming is largely due to a single technological innovation: SOFTSWISS. pioneering launch of its Crypto solution in 2013making it the world's first crypto iGaming provider.
This innovative development has propelled the company from startup status to global industry leader over the past 15 years. Today, SOFTSWISS brings together more than 2,000 professionals from 30 countries in four offices around the world.
“In 2010 and 2011, Bitcoin cost nothing,” says Ivan Montik, founder of SOFTSWISS. “My interest in Bitcoin was not driven by its financial promise, but rather by the captivating mathematical algorithm it used. At the time I couldn't foresee its immense potential, but my team and I had faith in its technology. As SOFTSWISS grew from a small outsourcing startup to a product-oriented company in the competitive iGaming sector, we recognized the need for a distinctive feature to differentiate ourselves and meet customer demands. The Crypto solution emerged as that defining characteristic.”
Once a landing page about this product was created on the company's website, it jumped up Google's page rankings. “We received a lot of inquiries from around the world based on cryptocurrency-related keywords, which gave the impression that people were waiting for this solution. And we were the company capable of satisfying their needs,” Montik recalls.
Expanding the market
Setting a new benchmark for the industry, SOFTSWISS evolved into a software ecosystem provider. Within this ecosystem, operators can find all the products and tools necessary to launch and grow their iGaming businesses.
The iGaming industry is experiencing rapid growth: revenue has doubled since 2020 and is projected to reach $110.66 billion by 2025. As a result, this sector is attracting new technologies and top tech talent. Technological superiority has become the key driver of success in this field.
“Our strength lies in our deep technological experience and our high motivation to offer exceptional products. Guided by the principle of “if you want it done right, do it yourself”, we established the SOFTSWISS ecosystem. Whenever our clients found a lack of high-quality solutions in the market, we took the initiative to develop and implement them ourselves. Consequently, our customers now enjoy comprehensive support, covering licensing, payment system integration, game content integration, technical support and game support services,” says Montik.
Anchoring success
In 2020, SOFTSWISS expanded its cryptocurrency strategy by focusing on the emerging crypto casino segment. Initially, these casinos offered only a few basic crypto games. The panorama changed drastically when SOFTSWISS presented its flagship product, the game aggregator. This solution provided thousands of high-quality games, including those designed specifically for cryptocurrency. Their integration allowed platforms like Stake, Roobet, and BC.Game to significantly expand their offerings and become top-tier crypto casinos.
“SOFTSWISS seamlessly integrates cryptocurrency gambling into its strategy, focusing on building expertise and developing cryptocurrency-friendly products,” says Montik. “A notable feature is in-game currency conversion, which allows players to convert their crypto balances into fiat currencies. This functionality allows them to participate in games that may not be inherently compatible with cryptocurrencies. Surprisingly, 85 percent of all bets at crypto casinos powered by the SOFTSWISS Casino Platform are facilitated through this tool.”
Looking to the crypto future
Montik shares his vision: “Cryptocurrency brings notable advantages to the gaming sector, enriching the user experience with its easy-to-use features. Despite the challenges posed by different crypto regulations between jurisdictions, the trend towards the integration of digital currencies alongside fiat money is evident. Blockchain technology guarantees security and transparency, mitigates fraud and fosters trust between players and operators.”
According Statista.com, the global cryptocurrency user base nearly doubled between 2021 and 2023, reaching 575 million in November 2023. This growth is driven by users' technological savvy and desire for convenience. As cryptocurrency adoption expands across different regions and age groups, its growth potential extends to all sectors, including iGaming.
For more information please visit www.softswiss.com.
