Royale Finance has raised $1.45m in funding to help merge DeFi with the iGaming industry.
Participants to the round include Alphabit Fund, AU21 Capital, Fomocraft Ventures, Kyros Ventures and Vendetta Capital.
The iGaming industry is expected to reach $127.3bn by 2021, according to research from Grand View Research. This sector includes online casinos, sports betting, poker, prediction markets, lotteries and more.
iGaming is growing at a compound annual growth rate of 11.5%, with this growth being supported by the rise of digital assets and secure digital payments, the research claims.
Royale Finance aims to bring more transparency and trustworthiness to these digital assets. It offers a randomised number generation to ensure security when transacting with the assets.
The Royale Finance ecosystem is powered by ROYA, a valueless governance token used to coordinate between DeFi liquidity providers within the Royale Finance stablecoin collateral pool, which disperses loans to iGaming startups.
Token holders can vote on which games to support, while developers keep their equity whilst building their games.
Royale Finance CEO Giorgio Andrews said, “Centralized finance has stifled innovation in the iGaming sector. There is a lack of accountability and transparency, with too much control in the hands of few.
“Royale takes a hybrid approach that combines blockchain technology and DeFi to bring both fairness and accessibility to the sector, opening the door to the next wave of innovators. By doing this, not only will iGaming startups earn more, but every online casino operator will soon be able to attract provably fair games supported by our network and token holders.
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