Compliance Updates
Swifty Global (Dear Cashmere Holding Company), Confirms the Award of its UK Gambling License
Dear Cashmere Holding Company, known as Swifty Global (Swifty), is a technology company focused on creating ground-breaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Following its award of the Curacao license in November 2021, Swifty is now pleased to announce that it has successfully obtained its UK gambling license. The coveted UK license is the âGold Standardâ and one of the most difficult gambling licenses in the world to obtain. Its award now allows Swifty to upload its eagerly anticipated Swifty Predictions application to the UK Apple and Android stores, allowing users in the UK to download the app and register their account. In addition, Swifty has completed their 3rdparty security audit and is now adding the relevant payment providers. This couldnât take place until the UK license was approved. Once the payment gateway is live, the software will be submitted for certification which, once obtained, will be made available in the licensed regions. Swiftyâs in-house development team are working overtime to ensure that the product goes live as quickly as possible. The commercial team is simultaneously working on obtaining several further gambling licences, including for certain states in the USA.
To grow its user base in the licensed regions, Swifty is preparing to roll out its aggressive marketing plan, with the initial focus being to capture as many users as quickly as possible. From this point, the highly interactive Swifty predictions app brings a new form of engaged betting to users which Swifty is confident will stimulate a substantial amount of viral marketing.
After the successful âsoft launchâ of its Digital Wallet during the month of March, where several thousand users downloaded and used Swiftyâs pre-configured digital currency wallet, the official launch of both the Swifty Wallet and Swifty Predictions app will take place in May. The official launch functions are expected to encompass several celebrity endorsements.
The Swifty Wallet will offer a referral scheme within the wallet itself. This will allow users to refer the app to other users, thereby earning credits which will be cashed in against the Swifty Token. The Swifty Token is scheduled to be launched once Swiftyâs user base has reached a critical mass. The company anticipates this being in Autumn 2022. Referral vouchers will also double up to enter referrers into weekly prize draws.
Swifty will aggressively target the UK market to rapidly gain a lucrative share of the existing market whilst also creating a new category of gambling with its proprietary âswipeâ technology for micro betting. This will create a new market of users who enjoy a more social, fun, and engaging form of gambling. According to the UK Gambling Commissioner, the UKâs online sports betting and casino gambling market was worth 6.9 billion pounds between March 2020 and April 2021. This was up 18.4% from the previous year. Despite the size of the UK market, there are only 287 companies that have a remote betting operating license and 469 companies that have a gambling software development license in the UK.
Swifty Global CEO, James Gibbons, commented, âWe are ecstatic to have finally obtained this license following months of processes to demonstrate our compliance. We were always confident of obtaining the license since, in addition to our compliance, our technology, AML, and KYC capability is both next generation and world leading. However, it is a process that we had to go through, and we are very pleased to now finally be in the game within one of the worldâs most active and lucrative gambling markets. We are excited to launch the Swifty Predictions app, especially since itâs within a few weeks of the successful launch of our Swifty Wallet. I am extremely proud of what we have accomplished and incredibly optimistic about our next quarter of business and beyond.â
Compliance Updates
Aviatrix lands in the Netherlands
Aviatrix, the award-winning crash game, has received its certification in the Netherlands, meaning Dutch players can enjoy the popular title for the first time.
The certification in the Netherlands opens up yet another important regulated market for Aviatrix, which was recently named âGame of the Yearâ at the EGR Operator Awards 2024.
Gross gaming revenue in the Netherlands hit âŹ1.39 billion in 2023, and is expected to continue to grow over the coming years.
Dutch operators will now be able to capture this growth via Aviatrixâs innovative title, which is proving hugely popular in regulated markets worldwide.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âThe Netherlands has been on our radar for some time, so this is a big day for us here at Aviatrix. We canât wait to see Dutch players enjoying the title, and we will be working closely with some very special partners in the Netherlands to ensure this game is widely available very soon.â
Part of what makes Aviatrix so successful is the constant updates to the game, which keeps it fresh and exciting for players.
This has included a full redesign with new, 3D assets, as well as a first-of-its-kind free bets function via in-game promo codes.
Compliance Updates
Comtrade Gaming Receives UKGC Approval to Distribute Gaming Content
Comtrade Gaming has obtained a supplier license from the UK Gambling Commission (UKGC). Players in the UK can now enjoy a variety of games from Comtrade Gamingâs portfolio, including the latest Witch Crashâd, Pilot Piggy, Sweet Treasures, Wild Minner, Diamond King, Diamonds in the Sky, White Elephant and many more.
âThis is a significant achievement for Comtrade Gaming. The UK market is a core part of our growth strategy, and this license allows us to bring our games to more operators and players. Weâre excited to work with all operators in the UK market and provide a unique gaming experience for their audiences,â said Steven Valentine, Chief Commercial Officer.
This milestone marks a pivotal step for Comtrade Gaming as it continues to grow within regulated markets and reach new players globally.
Compliance Updates
Spillemyndigheden: Anti-Money Laundering: Screening of Sanctions Lists
Gambling operators must comply with the EUâs sanctions regarding freezing of assets. Freezing of assets means that it is prohibited to make funds and assets directly or indirectly available to individuals who are subject to the EUâs sanctions.
Freezing of assets must take effect immediately when an individual, business or organisation is added to a list of sanctions. Consequently, a gambling operator must screen their costumers in accordance with the existing and updated lists.
The EU keeps several sanctions lists that are updated regularly. Therefore, the EU has created a database, EU Sanctions Map, which includes all current sanctions lists concerning anti-money laundering. The map can also be used to search across the lists. Individuals, businesses and organisations that are subject to a requirement for freezing of assets is marked with a frost symbol.
In addition to the individuals listed in the EU regulations, gambling operators are also obligated to ensure that the operatorâs customers do not appear from the UNâs consolidated asset freeze list. The list is available on the Danish Business Authorityâs website: UNâs freezing of assets list.
Gambling operators are responsible for ensuring that funds are not made available to a sanctioned individual â for example by paying out winnings. Please note that breaches of sanctions adopted by the EU or UN may be punishable by fine or imprisonment.
See more information on sanctions and asset freeze on the Danish Business Authorityâs website, where a guide on freezing of assets is also available.
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