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Greentube acquires majority stake in CashBet Coin

10th March 2020 10:12 am GMT

Novomatic’s interactive division Greentube has completed the acquisition of a majority stake in CashBet Coin’s (CBC) cryptocurrency and underlying blockchain technology.

The supplier said that the acquisition, for an undisclosed amount, would enable Greentube to enhance the use of cryptocurrency across its social gaming portfolio. It follows a successful trial integration of CBC with Greentube’s GameTwist brand last year.

Greentube’s flagship social casino now offers the cryptocurrency as an alternative payment method in each market it operates, allowing players to purchase Twist credits using CBC across more than 400 games.

“The acquisition of the CashbBet Coin Treasury allows us to expand the use of blockchain solutions and we are evaluating the spread across our B2C casino portfolio to enhance the customer experience,” said Greentube chief games officer Michael Bauer.

“We’ve seen increasing demand from players to offer cryptocurrency as a payment option and the successful integration of CBC on GameTwist has demonstrated the benefits of the technology for social gaming.”

CashBet Coin president Ed Brennan said: “This deal completes our ongoing partnership with Greentube and is testament to the technical excellence and versatility of CBC. Given the scale of the company’s social user base and operations the acquisition will further advance development of the technology.

“With CBC now under the control of a leader in the global iGaming industry, we look forward to establishing greater utility of the token and seeing many more integrations across Greentube’s social products and services.”

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