OKTO Set to Launch in Germany Following Regulatory Approval
The German gambling regulator, Die Gemeinsame Glücksspielbehörde der Länder (GGL), has approved OKTO’s wallet payment solution.
German bookmakers are now able to use the e-wallet payment service and provide customers with a new, easy-to-use, mobile-first, and phygital (physical + digital), way of funding their accounts. OKTO’s payment solutions were designed to comply with the Payment Services Supervision Act (ZAG), which means that payments to or from a gambling account will be processed using a payment account in the player’s name. This prevents anonymous transactions and helps to promote responsible gambling.
OKTO also offers a complete responsible gambling toolkit that includes a cool-off period, spending limits, P&L control features, and a carefully monitored transaction history.
This approval by the GGL, Germany’s gaming authority, marks a significant milestone for OKTO. The whitelisting means that any online operator can use OKTO’s wallet solution in Germany, and with its cutting-edge technology and commitment to responsible gaming, OKTO is poised to become a major player in the German iGaming industry.
The first site set to use OKTO’s e-wallet solution in Germany will be Bet.3000, and more are expected to join it in the near future. OKTO will also be launching new products designed to meet the specific needs of the German market while adhering to the country’s regulations.