RYKI has stepped up to address the growing demands of the iGaming sector with a new dedicated crypto payment service. This move comes as the global online gambling market, valued at approximately $88 billion in 2025, continues to expand, projected to more than double by the early 2030s according to Grand View Research. The timing reflects a broader industry shift towards embracing digital assets.
In This News
Increasing Role of Cryptocurrency in iGaming
The online gaming industry has seen a major uptick in cryptocurrency usage. According to RYKI, crypto-funded wagers now make up almost 17% of global iGaming bets, and over 30% of online operators support cryptocurrency payments. Still, despite this growth, many systems aren’t built for modern demands—persisting with outdated correspondent banking methods that result in delays and costly conversions. RYKI, a British Virgin Islands-registered Virtual Asset Service Provider (VASP), has executed over $1bn in trades since 2020. They’re now targeting the gaming industry’s needs for faster and more reliable payment systems. The company’s CEO, Lennon Sweeting, noted, “Gaming has become a financial business as much as an entertainment one.” The challenges are clear: slow cross-border transactions, compliance issues, and a lack of efficient crypto on-ramps.
RYKI’s broad Solution
RYKI’s new service offers a streamlined approach—enabling gaming operators to incorporate stablecoin and crypto payments with same-day settlements into fiat currencies. The solution eliminates the double conversion costs and delays tied to traditional banking. By integrating direct US dollar liquidity, RYKI provides a direct pathway for transactions, sidestepping the conventional SWIFT systems that impose timelines and multiple currency spreads. These offerings aren’t just about speed. RYKI also provides compliant custody for digital assets, thereby relieving operators from the burden of creating in-house crypto systems amidst regulatory complexities. Their treasury management services allow operators to handle over 150 currencies, providing real-time visibility essential for businesses managing high-volume transactions.
Regulated and Reliable Infrastructure
RYKI’s registration with the British Virgin Islands Financial Services Commission ensures access to regulated crypto payment services, avoiding traditional banking roadblocks. Gaming companies maintain their licenses while using RYKI’s compliant platform to manage digital asset transactions seamlessly. In practical applications, RYKI claims success in reducing transaction complexities for a major online gaming operator by removing euro-to-dollar conversions. They’ve also developed a model for VIP players, allowing digital assets to serve as gaming credit without the need for immediate liquidation, enhancing the customer experience.
Future Outlook and Industry Implications
As stablecoins become mainstream, gaming operators face the critical task of integrating these into their payment infrastructure. The GENIUS Act in the US and MiCA in the EU are pushing towards more defined regulatory environments. Working with a registered VASP like RYKI moves beyond theory—this is becoming an industry standard. Yet, challenges remain. Operators without suitable crypto infrastructure risk losing crypto-native customers to competitors. The expectation for same-day settlements is growing. Operators must adapt swiftly or potentially lose their edge in attracting high-value clientele. RYKI’s approach underscores a major shift in the gaming industry’s financial strategies. The company’s commitment to offering regulated crypto services positions them as a key partner for operators looking to enhance their payment systems. The next phase for the industry? We’ll see whether traditional operators adapt or fall behind as the digital shift accelerates.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
