Greentube acquires majority of CashBet Coin’s CBC cryptocurrency

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Novomatic’s interactive division Greentube has completed the acquisition of the majority of CashBet Coin’s CBC cryptocurrency and its underlying blockchain technologies.

As a result of the acquisition Greentube is aiming to enhance its usage of cryptocurrency throughout its social gaming portfolio, with the purchase following the successful trial integration of CBC within its flagship brand GameTwist last year.

The 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 its collection of more than 400 games.

Ed Brennan, president at CashBet Coin, stated: “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.”

In December 2019 CashBet agreed a new partnership with Greentube which saw CBC be offered as a payment method across its B2C social casinos. 

The company subsequently began integrating CBC and its underlying blockchain technology throughout its portfolio, offering an alternative way for users to play its online slots, casino, card games and bingo content. 

Stressing that the cryptocurrency enjoys “a strong foothold in Europe,” CBC was to be accepted in all markets where GameTwist operates.

Michael Bauer, Greentube’s chief games officer, explained: “The acquisition of the CashBet 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.

“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.”