Crypto payments in iGaming are soaring as players and operators adopt digital currencies for faster and more flexible transactions. But with regulatory uncertainty looming and technological advances accelerating, the industry is at a crossroads.
To better understand this shifting landscape, SiGMA News had the pleasure of chatting with Innokenty Isers, CEO of Paybis, a trusted platform for crypto exchange and business-focused crypto solutions, at the SiGMA Eurasia event. His insights offer a detailed perspective on the growing demand for crypto, regulatory hurdles, and the future of digital payments in gaming.
The demand for crypto in iGaming is exploding
“The crypto industry is overwhelming,” says Isers. “We’ve all seen the shift in attitude towards crypto as an industry and payment vehicle.” He highlights the transformation of major financial players like BlackRock, who were once sceptical of Bitcoin but are now investing heavily in crypto exchange-traded funds (ETFs).
BlackRock’s CEO, Larry Fink, once dismissed Bitcoin as a money-laundering tool, reflecting the scepticism of traditional financial institutions. In recent years, BlackRock has reversed its stance, recognising digital assets as a legitimate investment. The company has introduced ETFs, offering institutional investors regulated access to Bitcoin. This shift is part of a larger trend. Major financial players that once rejected crypto now integrate it into their portfolios, seeing its value as an alternative asset and inflation hedge.
BlackRock’s shift didn’t happen overnight. Initially dismissive, the firm gradually softened its stance as the institutional demand for Bitcoin grew. Today, its ETFs mark a complete reversal, signalling how far traditional finance has come in embracing digital assets.
As well as institutional adoption, Isers highlights that demographics are a key factor. “New generations have been used to crypto from the start. For them, it’s just another financial instrument. If you compare crypto to traditional finance, it’s so much better in terms of tech.”
This shift is reflected in player behaviour. Younger players are naturally comfortable with digital assets, while older demographics require more education. “At Paybis, we simplify the process so users don’t get lost. Our platform is intuitive, like Apple products – buy, sell, swap, and wallet functionality without complexity,” Isers adds. “Many traditional exchanges overwhelm users with complex interfaces. We remove the confusion, ensuring an easier experience, regardless of crypto expertise.”
But it’s not just individual players making the shift. “Even companies are now operating in crypto much more than they did five years ago. It’s a totally different landscape.”
Who’s using crypto? The changing player demographic
Younger players aren’t the only ones driving crypto’s dominance. Isers states, “For those over 40, crypto can still be intimidating. That’s why we focus on ease of use—no complex onboarding, no unnecessary confusion.” He explains that many exchanges overwhelm newcomers with complexity. “You sign up for one of the biggest platforms, and you’re lost. With Paybis, everything is straightforward—you just go in, buy, sell, and swap.”
Regulation is crypto’s biggest hurdle
Crypto’s rise in iGaming is undeniable, but regulation is still a major obstacle.
“Regulators are always late, right? Crypto is here now; ideally, everyone should understand what to do with it. But that’s not the case,” Isers declares.
The iGaming industry is one of the most regulated in the world, making it difficult for operators to integrate crypto seamlessly. Isers adds, “Driving change in this market is insanely difficult, and that creates a grey area – uncharted waters where we must stay compliant while targeting long-term growth.”
The regulatory landscape remains fragmented, even within regions like Europe. Isers echoes the views of many industry experts. “Europe is moving towards MiCA regulation, but every country is making its own legislation. Some are fast, some slow. Latvia, for example, is incredibly crypto-friendly, while other nations take a different approach.” He agrees that regulators and industry experts should collaborate and ensure that all stakeholders overcome any hurdles with a united effort.
MiCA (Markets in Crypto-Assets) is the European Union’s attempt to create a unified regulatory framework for cryptocurrencies. MiCA is designed to clarify the sector by establishing uniform regulations for crypto transactions, stablecoins, and service providers across EU member states. Although MiCA was crafted to streamline compliance, its adoption varies as nations implement it at different speeds. Its uneven rollout creates obstacles for companies expanding across Europe. Some implement the framework swiftly while others delay. This causes businesses to navigate an overly complex regulatory landscape.
The U.S., too, has seen a dramatic shift. Isers smiles when we approach the subject of the U.S. and the recent transformation following the election. “We all know that’s a big talk—Donald Trump in the business. He changed the landscape completely. As soon as he got into office, attitudes in banks and acquirers shifted. Now, suddenly, crypto is acceptable.”
Following Trump’s election, financial institutions quickly adjusted their stance. Banks, acquirers, and payment processors that once hesitated on crypto suddenly became more receptive, reflecting a broader shift in the U.S. financial ecosystem.
Are crypto casinos the next big thing?
Crypto isn’t just a payment method. It is fuelling new industry models. Isers is enthusiastic when he sheds light on this. “The biggest recent trend is crypto casinos. Five years ago, they barely existed. Now, they’re booming because younger players feel comfortable using crypto. The pace of growth is staggering. What was once a niche concept has exploded into a booming sector, with new crypto casinos launching almost weekly to meet demand from digital-native players.”
Stablecoins like USDT and USDC are becoming more popular in markets facing fiat currency instability. Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to traditional assets like the U.S. dollar. USDT (Tether) and USDC (USD Coin) are among the most widely used, offering a less volatile alternative to Bitcoin while still benefiting from the blockchain’s speed and flexibility.
“Look at Argentina and Nigeria—when local fiat collapses, people turn to stablecoins. Even in major economies, inflation is pushing more users toward crypto,” says Isers.
Can crypto be trusted?
Security is still a pressing concern, but AI-driven solutions are transforming fraud prevention. Isers says and adds, “Now, we use AI to make fraud decisions in milliseconds. Our approval rate is 95 percent, and gross volume-wise (GV), it’s 90 percent.”
For players, Isers points out that this is a seamless deposit experience. “They don’t see the huge infrastructure behind the scenes. They just make a payment, deposit it into the casino, and start playing. But trust me, there are years of work behind that simplicity.”
Automation and API-driven solutions
Isers says that automation is another game-changer for crypto in iGaming. “All of our services are API-driven. In today’s market, you simply can’t operate efficiently without automation.” An API (Application Programming Interface) allows different software systems to communicate seamlessly, enabling automation by integrating crypto payments directly into iGaming platforms without manual intervention.
But what about integration challenges? Isers says, “Integration itself isn’t the issue—it can be done in days. The real pain points are regulators, fiat rails, and banking restrictions. That’s where companies struggle.”
Future-proofing payments
As crypto adoption accelerates, I ask Isers how operators can stay ahead.
“Stablecoins will be there long-term. For crypto casinos, all cryptos are in play—Bitcoin, Ethereum, and even meme coins like the Trump coin. The new generation will use whatever assets they have.”
But will regulations become clearer? “We’re speaking many years before the world unites on a crypto framework. Every country has its own agenda. There’s not a single topic globally where everyone agrees—crypto is no different.”
So, what key trends should the industry watch? “Clarity around crypto and iGaming regulation is the big one. Europe’s MiCA regulations will be a major development.”
When asked for a bold five-year prediction, Isers keeps it simple: “It will grow. It will grow by a lot.”
As operators navigate regulation, security, and adoption challenges, one thing is clear—crypto’s role in iGaming is only just beginning. Regardless of regulatory stance, players are making their choices with their wallets.
