The global online market continues its impressive growth, with a valuation estimated at around $88 billion in 2025 and projections suggesting it could more than double by the early 2030s, as highlighted by Grand View Research. However, the existing payment infrastructure is struggling to keep pace, according to RYKI, a Virtual Asset Service Provider (VASP).
Digital asset payments are becoming increasingly important in this sector. RYKI references analysts estimating that crypto-funded wagers make up nearly 17% of all iGaming bets worldwide, while over 30% of online operators already facilitate some form of cryptocurrency payment. Yet, much of the demand is still funneled through outdated payment systems that rely on correspondent banking and wire transfers, leading to multi-day settlement times, foreign exchange spreads, and banking cut-off delays.
The issues plaguing gaming businesses are clear. Slow and expensive cross-border settlement processes often take between three to seven days, with foreign exchange conversions adding anywhere from 50 to 100 basis points per transaction. Double conversion becomes a hurdle for operators who cannot find a gaming-friendly settlement partner in the western hemisphere, as these businesses are forced to revert to euro settlements, incurring additional conversions and costs.
Compliance challenges exacerbate these pain points, as standard banking relationships can trigger holds and fund freezes whenever crypto-linked transactions are flagged, straining operational processes and tying up essential working capital. Furthermore, a lack of accessible on-ramps for crypto-native clients complicates matters. Many high-value players and event exhibitors who own stablecoins encounter difficulties in converting them into gaming credits or paying for event fees.
Manual reconciliation across currencies, events, and counterparties only adds to the operational burden, diverting time and resources from finance teams. RYKI, which has been operational since 2020 and has completed over $1 billion in trades, has recognized these challenges faced by operators and has launched a dedicated service line tailored for the global gaming industry.
“Gaming has become a financial business as much as an entertainment one,” says RYKI CEO Lennon Sweeting. He points out that the largest operators deal with significant volumes, manage customer funds, and bear foreign-exchange risks at an institutional level, often utilizing payment infrastructure ill-suited to their customers’ behaviors.
RYKI's new service facilitates casinos, online gaming operators, iGaming platforms, software providers, and conference organizers in processing stablecoin and crypto payments efficiently while allowing for same-day settlements into fiat currencies. The offering is a comprehensive solution that mitigates the complexity of managing disparate payment processes.
Components of RYKI's service include stablecoin payment channels and direct fiat settlement that streamline the process and remove unnecessary intermediaries. Additionally, clients' digital assets are stored in compliant, audited custody, which eliminates the need for operators to develop in-house cryptocurrency systems and navigate regulatory uncertainties. RYKI also provides treasury management services across over 150 currencies, offering real-time visibility and support for businesses managing high-volumes and foreign exchange risks.
The compliance aspect is further enhanced through RYKI's gaming-aware strategies and dedicated onboarding support. The organization’s expertise is built upon its position as a registered VASP, aimed at minimizing regulatory friction and avoiding funding freezes during compliance checks.
Registered with the British Virgin Islands Financial Services Commission, RYKI offers gaming operators access to compliant crypto payment rails, custody, and treasury services, thereby freeing them from the complications of creating their own infrastructure or relying on traditional banks. This arrangement allows gaming companies to maintain their own licenses while RYKI provides the necessary digital asset and payment layer beneath.
Early successes in the gaming sector demonstrate RYKI's value proposition. For instance, in a partnership with a leading online gaming operator, RYKI effectively removed the need for euro-to-dollar double conversions, streamlining operations from two trades to one. This transition not only resulted in same-day settlements but also lessened compliance-related challenges, enabling finance teams to refocus their efforts.
For high-end casinos, RYKI has engineered a crypto credit and settlement system allowing VIP players to use digital assets as gaming credits without mandatory liquidation. This system boasts on-chain verification in approximately 60 seconds, contrasted with the two to five-day waits associated with traditional banking.
RYKI estimates that more than $50 billion in crypto held by high-net-worth individuals remains untapped by premium gaming venues, a significant opportunity. In the events domain, RYKI's services enable gaming conferences to accept stablecoin payments efficiently, streamlining international transactions and reducing denials of sponsorship payments.
These initiatives illustrate the foundational role that RYKI’s infrastructure can assume as operators elevate their digital asset capabilities. Sweeting asserts, “Our customers already hold digital assets, but what they have lacked is a regulated counterparty that can settle quickly, custody securely and clear compliance without surprises.”
With the introduction of a dedicated service line for the gaming industry coinciding with rising market demand and advancements in technology and regulations, many operators are transitioning from merely contemplating digital asset acceptance to actively implementing it. As stablecoins gain traction and legislation such as the GENIUS Act in the US and MiCA in the EU offer clearer guidelines, operators face increasing competitive pressure to develop a robust digital asset framework. Without this capability, the risk of losing valuable crypto-aware clients to more nimble competitors is real.
